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Avoid the post "New Year Hype" blues in your business

Has reality started to set in after the holidays and are you finding business more sluggish than you would like? Eric Billoud explains why it's happening and what you can do to overcome the issue.
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The hype of the New Year gives you wings, doesn't it? It must be that feeling of starting fresh, canceling out all your shortcomings of last year, starting with a clean slate and yes, this time you will get it right!

But the problem with this is that the hype does eventually wear off and then you hit your desk again! Suddenly nothing has changed... your power to walk on water and move mountains in the new year has left you as reality hits.

Eckhart Tolle in his great Book "The Power Of Now" explains how the future will be a replica of the past if you don't make the necessary changes inside yourself right now.

And the same applies to your business doesn't it? If you don't go and look for the bottle necks, the 2 or 3 things that have hindered your profits last year, you are in for the same ride, or possibly a worse ride.

So what are the 2 or 3 radical changes that your business could need urgently? That is the question you need to ask yourself and write the answers down before you get to March with no progress achieved.

• Could it be that you are marketing your name or business name, and you keep forgetting to let your prospects know about your point of difference? If so you are just a "me too" business drowning in a sea of competitors

• Or is it that you have no written profit increase goals and no map to get there with a time line? If so you will not hold yourself accountable and quickly revert to dealing with the day to day business with no focus on growth

• Perhaps you need to go back to your target markets, what has changed? What are the 20% providing 80% of your profits? What are the needs and WANTS of your customers?...Don't take it for granted, it changes all the time!

• The same problems will occur if you don't measure the right things in your business. Your conversion rate is a classic one. Or maybe you are not getting the right strategic information from your accountant

• If you forget about everything else, make sure you do this one: start spending 50% of your time (or more!) on marketing, and make sure you have at least 3 new marketing strategies, tested and systemised by March 2011

• One of my favorites: find out what people say when they are talking about your business over a coffee and think of all the ways you could improve client experience. What would you like your customers to say about your business. How can you get them to buy a lot more from you?

• What about finding at least one formal incentive for your customers to market your business for you?

Whatever targeted change you decide to make, don't just initiate it. It will only deliver for you if you keep doing it and test various ways until it delivers for you. Remember New Year is paved with good intentions... Be one of the 5% of business owners who build from the New Year Hype and thrive this year.

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About the author

Eric Billoud's picture

Eric Billoud is a business coach and fitness guru. Originally from France and having spent 21 years running his own businesses in New Zealand, Eric has built a strong ability to create systems aiming at reaching his goals. Eric is now able to pass on his knowledge through various aspects of business and personal life, with clarity and simplicity.

Eric has helped many people succeed in business and personal improvement. His ongoing focus on getting the basics right has ensured a good following for his mentoring services.

Get your hands on Eric's Free Advertising Report, "The 21 Breakthroughs of Effective Advertising" on http://www.breakthroughbusiness.co.nz