Feel the fear and do it anyway

2023's got the feeling of a big (scary?) year. ??

Do you know what I mean??

Inflation’s the highest it’s been for 40 years;

?? Fuel costs are through the roof and there’s a cost of living crisis.?

??There’s a war going on in Europe.?

??Public services are straining.?

??There are strikes going on everywhere.?

??The World Bank is warning of a global recession. ?? ??

It can be easy to get caught up in the doom and gloom and start to feel like the world’s coming to an end if you spend too much time listening to the media. ???

And if you run your own business, that’s on top of the usual stresses and strains that you are constantly managing day to day. ?? ??

As an S.M.E business owner life is often already a bit of an emotional rollercoaster?? as I alluded to in my last Linkedin article. So how to keep your head in 2023 when all about you are losing theirs and if you listen to the news the world seems to be caving in? ??

Well, the first thing is, don’t completely ignore what’s going on around you. The best thing is to face the fear head on, face the noise and think about what all of these things mean for your business. ??

Do a quick analysis of your strengths, weaknesses, opportunities and threats and how they are affected by the current environment and then take the action you feel you need to feel like you’ve mitigated some risks. ??

However what I wouldn't say is “now’s the time to batten down the hatches.” Of course, different industries are going to be affected to different degrees but if you’re running an SME, one of the key things to remember is, you only have to win a small slice of the pie to continue to succeed and achieve your goals.???

If the overall pie has shrunk, that doesn’t prevent you from achieving those goals, you’ve just got to be better at attracting, winning and retaining business. ??

One thing I can guarantee though, if you shrink back from your business development activity in a shrinking market, if you do batten down the hatches, then the business definitely will shrink as inevitably some of your clients will stop spending. ??

So much of business success is about mindset, and it can be hard to maintain a positive growth mindset when there is so much negativity around. ??

So I would encourage you, once you’ve taken your key mitigation actions;

??Do your best to not listen to the noise too much.?

??Be clear on what your goals are for the year in terms of customer acquisition, and retention, introduction of new products or services and overall revenue growth and keep pursuing those.?

Think about how you help solve your clients and customers needs and provide for their wants better than your competitors and make sure you are shouting about it.?

Think about your target markets and which of them are more likely to continue to spend in a recessionary environment than others and make sure you are focusing your marketing channels and messaging on them. ??

And keep going. ??

To help you in that I’d do your best to shut out the noise, or not let it in too much. As Benjamin Hardy, PhD outlines in his excellent book, willpower doesn’t work, our environment plays a huge part in how we think, feel and act. If you're listening and reading about terrible things every day, it's bound to knock your confidence. ?? ??

So don’t read the news too much.

Surround yourself with people who are maintaining a positive outlook and continuing to strive so you can spur each other on. ??

Do whatever you need to do to maintain balance and calm your mind on a daily basis, be that meditation, prayer, exercise, taking the dog for a walk, whatever works for you. ??

This is going to be a year where you’re going to have to be disciplined and maintain positive habits to stay in the right mental space to keep driving your business forward - so get ready, focus, and go to it! ????