Step Above & Beyond The Dreaded Plateau
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All of life moves in cycles, and businesses are no different. There are times of struggle, and times when the big orders just seem to keep coming out of nowhere.
Long-term, of course, you’re always looking for growth, with the “ups” outnumbering and outlasting the occasional “downs.”
And then there’s the other position your business can be in: flat. The danger here is that a business which has hit a plateau can create complacency, a sort of “business as usual” mindset.
In a way, it can be more dangerous than a down cycle, because at least a down cycle triggers some corrective action (or at least, it should!).
When a business plateaus— that is, seems to be standing still, not getting any worse, not getting any better— it should be seen as a warning that something is not right, and that change is required.
What you don’t want is for that plateau to become a cliff, with a steep drop just a step away.
3 possible steps if your business has flattened:
1. Try something different. If you keep doing what you’re doing, you’ll keep getting the same results. (By now, we all know the definition of insanity, don’t we?)
But now is probably not the time to try drastic changes in your business model, or to take big risks. After all, you’re not desperate; you’re just trying to stimulate growth.
Try a new marketing method, or a new product line, or knock on some new doors.
Shake it up a little!
2. Refine your budget. Sometimes you can get some profit growth just by pruning back on some of your costs. Take a hard look at all your expenses, and think about ways to send more cash to your bottom line.
3. Invest in growth. Just as you did when you started your business, you may have to regularly reinvest in new tools, new products, a website upgrade, and so on in order to stimulate growth.
The key is, whether it’s big steps or baby steps, never stop pushing forward.
Business goes up and down, it’s normal, it’s active, it’s OK. It’s when it stands still, flat and unjaring that you need to worry a little and take immediate action.
Your turn. Can you think of some helpful tips?
To our mutual success!
Dennis
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Note: I try my very best to write as clear and concise as possible. Despite all efforts I may have missed something or not explained it in the best way possible. Please let me know if this article has helped your marketing efforts. If you have any questions regarding anything here, contact me anytime. Got a topic suggestion; something you’d like to see? Skribit and others will vote on it as well. Either way I would love to hear from you.
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April 1st, 2008 at 1:00 pm
This is very true. Lately I’ve felt like I’m plateauing, but really I’m just getting started.
It’s important to remember that change is constant. While your business may not seem to be changing, the environment around you is, and if you don’t adapt it will eventually catch up with you.
Luke’s last blog post..My Search Results
April 1st, 2008 at 4:17 pm
Very well put Luke, and that statement has never been more true then dealing with the Internet; not to mention technology in general.
Dennis Edell’s last blog post..Step Above & Beyond The Dreaded Plateau
April 1st, 2008 at 7:43 pm
I think the important thing is to feel like the business is always growing, and that it is worth investing your energy and money into.
People start to get down on their business when they feel that it has stagnated or that they are limited in the amount of growth that they can achieve
Steve Mills’s last blog post..Retune your information stream
April 1st, 2008 at 8:21 pm
Well stated Steve and thanks so much for dropping by
This is just one reason why you should do at least 1 productive thing everyday, even if it’s not immediate…
Blog post (maybe an affiliate post), write an article, submit a written article, even answering an important email with a prospective customer or JV partner.
Anything, but at least one thing daily.
April 2nd, 2008 at 1:03 am
In a business it’s important that you have to try other strategies if the other is not effective. A thorough business planning is important in a business. Thanks for the great post!
April 2nd, 2008 at 2:02 am
Oh so true Phil. We all know the definition of insanity “Doing the same thing over and over thinking you will get a different outcome”.
So True.
Thanks for stopping by, don’t be a stranger
April 6th, 2008 at 1:36 am
Hi Dennis,
When my business hits one of those flat spots, I’ve found that the best way to kick start it, is to simply go back to doing things have worked well in the past … when I was growing.
The great majority of the time, it’s not that what we were doing stopped working … it’s more like that we stopped doing what works.
Todd
Todd Morris’s last blog post..10 Ways To Generate Local Leads for your MLM Business
April 6th, 2008 at 8:18 pm
Awesome response Todd. Never stop learning, trying and inputting new methods but never forget the “tried and true” that worked before.
This is all under the assumption that an old technique will still work, as we all know how the Internet is
April 8th, 2008 at 5:13 am
I have hit something similiar to the plateau you mention recently, although I know now that I won´t stay there for long. Good things are coming out of it, since I have given myself the time to reconsider all things I was involved in that really don´t give me a lot of results.
The way I am breaking through this plateau? Completely changing strategies and focussing on things that will get me results, not sweating the small stuff anymore
Mirjam’s last blog post..I´m on a Break!
April 8th, 2008 at 9:18 am
Great ideas! Who hasn’t gotten stuck in a plateau - whether it is professional or personal? I agree that it is always good to shake things up a little! Thanks for sharing!
April 8th, 2008 at 9:27 am
Excellent Mirjam, that’s exactly what needs to be done sometimes, step back and re-evaluate.
As Jenna put it so well, sometimes ya gotta shake things up!
Thanks guys
April 19th, 2008 at 8:35 am
I am not sure that I can completely understand your comments. Would you be so kind as to expand on your reasoning a little more before I comment.
April 20th, 2008 at 11:31 am
Who are you referring to specifically and what don’t you understand?
April 25th, 2008 at 8:23 am
Hey!! I am thoroughly impressed with your knowledge of Niche Marketing. Your insights into this article about Niche Marketing was well worth the the time to read it. I thank you for posting such awsome information. Signed Chris Martin on this Day Friday.
April 25th, 2008 at 8:45 am
Hey Chris, I’m thinkin you accidentally commented under the wrong post, but either way thanks for the kudos!
I’m actually just getting my feet wet in Niche marketing but it’s a wacky & wonderful place
May 26th, 2008 at 12:03 am
Niche marketing is a blast but you’ve got to realise that there is no generic tips available to help improve results. why? because every site and product is different and because general blogging tips do not always apply.
Popular Wealths last blog post..Celebrity Product Endorsements For YOUR Blog
May 26th, 2008 at 6:17 pm
Very true to a point, but I’m not sure what that has specifically to do with this post?
Please explain a little further if you can.