Common business owner fears on their business journey.

What worries do business owners face when they begin to Stocktake?

In last Friday’s article, I introduced you to the concept called: Stocktake. This week’s article will go into the details of what worries business owners face when attempting to Stocktake. I am sharing with you these common fears to help you pinpoint them and address them as soon as they arise. Let’s get started!

1-The Business’s Finances

As the business owner begins to Stocktake, they start having this worry about the financial matters of their business. This could be because they might have borrowed money from friends or family to start their business, some might opt for their life savings, whilst others might be feeling the pressures of the business loans they borrowed to launch their business and turn their idea into reality.?

This fear becomes more prominent if the business is not generating enough money to sustain itself. Here, I advise business owners to address their business’s performance and financial situation and recommend that they do not postpone handling this because in most cases it always spirals into something bigger. I know nobody wants that.

2-Overworked and Overwhelmed

I have come across many clients and fellow business owners over the years who have confessed that they feel overworked and still do not achieve their desired results. It’s like the business performance is dwindling no matter how much work is being put into the business.

Business owners at this stage begin seriously worrying about their financial stability and freedom. They begin to wonder, “when will I finally relax?” In many cases, business owners begin spending more time at the office, trying to come up with strategies left and right to help their business stay afloat, however, there seems to be a much deeper-rooted issue.?

3-The Media’s View of Success

We all know how it’s so common nowadays to be bombarded with success stories wherever you go, no matter what channel or platform you are browsing. Company X opened their 30th branch this Monday, Company Y is now going public, and Company Z is run by one of Forbes’ 30 under 30! No pressure, but that automatically triggers you to worry even more about when will it be your turn, your debut. Additionally, te media never fails to let you know when the economy is dwindling and tell you why you should hold off on your spending. So, maybe you should take a break from the media every once in a while. Consider it a detox for your brain!

The Solution

I have worked with countless clients who have bravely applied my principles, which I am sharing with you in this weekly newsletter and have since been enjoying the fruit of their dedication and smart work.?

Financial Stocktake

Stay tuned to next week’s article about Stocktaking. You will be introduced to Financial Stocktake. I hope you enjoyed this week’s article and share in the comments if you’ve ever experienced those worries that many business owners have experienced on their business journey.