What would you feel if your business revenue dropped from an average of £18k per month to just £519?
How would you go about building back your business? Would you even attempt it, or just quit and go find another job?
What would you have to stop doing, sacrifice, cancel, when this amount of change sh&&& hits the business fan?
Let me tell you a story on this New Year’s eve – a true story about me and my business.
A year ago it was a business reboot 2.0…
Since 2008 we worked for closer and closer with a marketing agency doing all their development work while they found clients.
Eventually and without much notice in Nov 2014 we were replaced by a local, in-house team. I won’t go into details why/how – it’s all water under the bridge now anyway.
It’s been a good experience for us though and I don’t regret those years at all.
But when it came to December 2014 I invoiced just over £519.
Our other regular clients were winding down for the holidays. We didn’t have the agency work – and as we were suddenly pulled off projects I’ve scheduled in with them, I didn’t have others planned to start until early 2015.
And that was the income for 3 regular people in business.
As you might imagine… Jan 2015 started major hustle to find new clients, put marketing back as a priority, increase my visibility which I haven’t had to do since 2012.
A do or die sort of scenario…
I gave myself 3 months to get back to “normal” – or I’d have to get some side temping gig. Which is something I really didn’t want to do!!
On top of that, it’s been a year of soul-searching as well.
If I’m rebuilding the business – do I still want to do the same things? What clients do I want to work with? What services and products do I want to offer? How am I positioning myself with the reboot?
I bet you’ve asked yourself these questions when you first started your business (and might still be asking today!).
Of course we had false starts.
- Fireworks Social – when the only thing in social media we currently offer is paid advertising and marketing. Not your daily social media management and content.
- Local networking membership – I do 95% of all my networking online on social media. 5% happen when I go to industry events and conferences.
- Taking too long to rebrand – TB.com website is long overdue a revamp. But for me it was the case of “I need to be clear on my direction and mission before I do it” when it should have been the case of “clarity comes from taking action”.
Now on the last day of 2015 I’m heading into the new year with a 6-figure business, again.
More importantly we don’t have “all eggs in basket” any more. The business is stronger:
- With 2 products for sale plus a membership site.
- With a recurring revenue model for web support services.
- With a strong portfolio of clients.
- With a team of people that I will continue growing and developing.
- With projects booked for Q1 in 2016.
- What a change just one year can bring!
And that’s the power of having an online business.
It doesn’t mean you have to sell widgets on ebay or run an ecommerce site.
It means you leverage online marketing and service delivery to have a global client base, sell your products and services online, are able to leverage your time and expertise.
It comes down to the right strategy (knowing what to do), the right tools and systems (knowing how to do it), the right plan (knowing when to do it, with whom and where).
If you already have this in place for your business – you too can be flying by the end of 2016.
I didn’t do it alone though.
I had a team to support the vision and the strategy I had with delivery and development (thanks!).
I had coaches helping me get out of my own way, re-discover my strengths and call me on my BS (thanks!).
I had and have my mastermind group of like-minded entrepreneurs.
These support elements were vital to keeping us all on track on the road of recovery and success. What support will you have in 2016?
I’m grateful to 2015 for all the learning, connections, experiences, lessons, mistakes, people, places and time… It’s been an amazing year showing me what I can achieve for myself and others, how I want to be in this world, and where I’m going.
So in 2016 I can continue building on the foundations and taking the leap to the multiple 6-figures with a 7-figure business in sight.
My story (or rather this chapter of my story) has a happy ending – party because I stayed on course and didn’t quit when it got tough. Party because I invested in help and support even when financially things were difficult. Party because I already had all the strategy and tech know-how…
I wish you a happy ending for your story’s chapter too in 2016!
Here’s to 2016 – being the best year yet for you and me!