If your traffic, revenues or profits have been consistently going down for a few months, then what your business probably needs is a jump-start–an infusion of new energy, vision and drive. Follow these tips to take a stagnant business and revive it:
Bring on Someone New
If you can bring someone new on board, someone who is excited about re-kindling the new project, that can work wonders for your own sense of excitement. New ideas and new spirit are often easier to bring in when they come from the outside. Outsiders haven’t been exposed to the gradual stagnation of the business and will bring in a much fresher perspective. This new person doesn’t have to be an employee. They could be an investor (even if it is a minor stake), an advisor, a business partner or even a friend who has a vested interest in your success. The bottom line is, bring someone new on board. This alone can reignite an old project.
Increase Your Hours
Businesses that stagnate are often due to simple neglect. If you are running multiple projects and haven’t put the time into your old business, then now is the time to change that. Decide how much time you want to put into this business and put it on your calendar. Tell other people about your new commitment so you have an incentive to stick to it. Sometimes, all a business needs to flourish again is to be given more attention.
Set New, Ambitious Goals
It’s not good enough to just try and keep a dying business going. It is time to get back into the state of mind of the time when you were very excited about the business, when you used to dream about its success, and how exited you felt to set goals for its success. In order to give the business a jump-start, it needs an infusion of “moving forward” energy. Set a few new goals for the business, what you want to accomplish and why, and how it would it change your life if you succeeded. If you have a strong enough reason why to succeed, you probably will. Money is a good reason, but it also helps to have other motivators.
The most important aspect of jump-starting an old business is just committing to its success again. At some point in the past, you probably lost your commitment to your business’s success. Rekindle your commitment. Bring on someone new if possible, set new goals and increase your work hours. Pour new energy into the project and watch it flourish.
