How to Not Quit Your Business

Take your current yearly income and imagine for a moment that you were able to make that amount of money monthly. Would that shift how you felt about the economy?

I first encountered that concept when I met David Neagle, Income Acceleration Coach in Los Angeles a couple of years ago. He said it to me so matter-of-factly that I had no choice but to believe him. What if this were really true?

What I've seen of David's work with entrepreneurs that I personally know is that he's taken some from low five figure businesses to millionaires, in the past year.

Of course, it's the dream of financial independence that leads many would-be entrepreneurs to start a business in the first place. However, with the recession that currently seems to have so many in a strangle-hold, neither starting nor keeping a business seems to be a viable option.

'Not so' says Neagle - when I recently interviewed him he indicated that 'resources abound and are often right in front of us but if we are in the mindset of giving up, we're actually experiencing a state of lack of resourcefulness.' There's a distinction made here that is important to be aware of -- lack of resources vs. lack of resourcefulness. Put in another way, 'it's out there' (blame) vs. 'I'm responsible'. Or, as Joel Osteen so likes to say, would you be a 'victim' or a 'victor'?

I couldn't agree more, in my own work with entrepreneurs I have found that what stops business owners more from achieving their business goals lies in their actions or lack of actions based on their limiting beliefs rather than any economic limitation. I know, this is likely nothing new to the seasoned entrepreneur, we've all read (or least have been meaning to read) Napoleon Hill's classic, Think and Grow Rich. However, when the going gets tough -- somehow the tough throw the principles of how much our mindset and thoughts influence our outcomes - out the window! We've gotten into the fight or flight syndrome where all the blood rushes from our brains and into our limbs. C'mon, tell the truth, how often have you awoken at 3 a.m. wanting to flee?

We're in the midst of experiencing a very important Universal Law right now called the Law of Rhythm which indicates that there are seasons or rhythms to everything. We can think of this current economic season as a very cold and long winter, the likes we haven't seen since the 1920's. How does the business owner not only survive this turn in the season but thrive?

As part of his Recession Rescue with Rapid Results program that has just started, Neagle makes these recommendations for being resourceful that will increase our resources that will allow us to not quit our business:

1. Understand that this is a time of transition. Do you want to participate in a recession or participate in a transition? What you decide will help you to shift how you move forward. Remember, what and how we think guides our actions. If we're fearful of a recession, we'll act in fear and likely in a defensive manner. If we're open to a transition, we'll act in a manner of optimism and curiosity which will attract what? You guessed it, more resources. This is the stuff of - 'Right time, right place'.

2. Understand that your customer is thinking (and feeling) differently than they were a year ago. Think of how you feel about your circumstances - are you responding to marketing techniques the same way as you were a year ago? No - most people are focused on their problems and whether or not they're going to have an income next week. The feeling of security so many of us had a year ago because we could access credit and know our income is stable -- is all but gone. Does that mean people don't have money to spend? Of course not, people still need to buy things -- they're just being more cautious. David says that if we can find a way to know what our customer's trigger points are and insecurities are - we can start to develop different ways of marketing. More of what we used to do is just not going to work. Have you noticed that?

3. Understand that restructuring your business may be necessary. Okay, so this might not be a surprise but truly, doing more of the same, or an exaggerated version of the same thing isn't going to work. You have to be different than you were a year or two years ago.

Right now, many businesses are doing extraordinarily well. Why? Are they exploiting people's fears? Undoubtedly some are but because consumers have their 'spidey senses' on full force, it's harder to fool people. The threat of severe buyers remorse is keeping money in purses. It may be time to reevaluate how your buying process works - what worked last year may be keeping your customers from buying this year.

All in all, my own experiences with entrepreneurs along with my experiences with David Neagle indicate that these are some very key ways to keep us from quitting our business amidst this current economic transition.

Now, more than ever, we need to think differently and take different actions within our business in order not only survive, but thrive.

Follow Karen Luniw on Twitter: www.twitter.com/karenluniw

Comments

[sustainea]

I like this! I am drawn to the statement of resourcefulness…in these times there is much opportunity to partner and joint venture with others who may be able to help our business. So many resources are right in front of us – often in the shape of other entrepreneurs.

[Karen Luniw - Huffpost Blogger]

It's true, isn't it!! The key is to be in a receptive mindset so you can actually 'see' the opportunity!!

[NickyD]

Your work has taught me so much about ways to change my money blueprint that was imprinted as a child. It's all in the mindset, and I've grown so much with your coaching, your book and your tips. Thank you!

Nicole Dunn
Creative Producer
-Learn how to book yourself on any show with just a laptop, a phone and a good one sheet. www.dunnpelliermedia.com

[Karen Luniw - Huffpost Blogger]

Thanks Nicole! You are so welcome!! AND, you're a perfect example of a business person who is willing to look at new ways of doing business - that will get you anywhere you want to go!

Karen.

[Myrna Park]

Great article, Karen! The times they are a-changin'! I recently was on assignment with a client who was really digging down trying to get more customers. When we reviewed the company's success with this over the past year, it was abyssmal! They had acquired virtually no new clients in spite of great effort. When we drilled down, however, and looked at their current client list, we found absolute gold.

This organization has now spent the past several months working closely with existing clients, getting them to buy more and getting them to buy more often! And every now and then, they even get a referral to get a new client.

So, if you are struggling to get new customers, maybe you should be really getting to know and understand the ones you already have. My client is on track to grow their business by 20% in a down economy. I am challenged to do the same. Are you?

Myrna Park
Communication and Leadership Consultant
www.max-u.com
www.chameleoncommunicator.com

[Karen Luniw - Huffpost Blogger]

Bravo Myrna!! What would happen if we all grew our businesses by 20%? Recession? What recession?

Karen.

[GKM]

I am totally seeing this at work in retail environments - those that don't change with the times and work with the 'old' mindset are failing.

[Karen Luniw - Huffpost Blogger]

It's true, GKM, I've seen this over and over where owners and managers are in a crisis mindset and they tend to go back to what used to work. It's time to let in new information and do new things to keep one's business thriving.

Karen.

[stonecircle]

Whether it's the recession or anything else, it seems to me that we need to get back to the basic principle: It's not your circumstances that are holding you back, it's how you're thinking about them.
Doing well in business and life first and foremost depends on your mindset.

Laurel Vespi
Change Expert
http://www.stonecirclecoaching.com

[Karen Luniw - Huffpost Blogger]

It's the Law of Correspondence, isn't it - as within, so without.

Mindset, mindset, mindset - thanks Laurel.

Karen.

[Heather Picken]

I agree Karen..it's all about what you believe and that starts with your mind.

Also look into what you perceive a crisis as an opportunity to shift gears.

Looking forward to having you speak at The Next Wave Summit :)

Heather Picken, "The Spirit Trainer"
www.TheSpiritTrainer.com

[LornaMcLaren]

Karen thank you for reminding us - it is so true! Not only does every thought we have secrete different chemicals in our brains (that have an effect on how we feel), it also determines how we view and react to our circumstances. As they say, our perception IS our reality.

Lorna McLaren
Better Communication, Less Stress expert
www.LornaMcLaren.com
http://quickcommunicationtips.podomatic.com/rss2.xml

[Karen Luniw - Huffpost Blogger]

Exactly Lorna! When we feel we're in crisis, we automatically go into a fight or flight syndrome and the blood actually rushes from our brains to our limbs. No wonder it's hard to think straight and perceive what's best for us in the now!

Karen.

[Karen Luniw - Huffpost Blogger]

It's so true Amanda!! Thanks for your comment. The cash machine rocks!!

Karen.

[energyworks]

I too am a fan of David Neagle. I particularly like his references to cash machines. Anything we need/want has to exist simply because we think of it. Therefore the access to it has to be right in front of us. We have to train ourselves to see it.

Amanda Maynard
Coach and Intuitive Healer
www.amandamaynard.com