M is for Motivation

You'll probably notice that I'm posting out of order this month. As usual, I'm behind so I'm jumping back in at "M" and will backfill when I have time.

We're going to talk about motivation today. Lately, I've heard from many small business owners that they are losing theirs. It's easy to see why. We're almost 24 months into the economic meltdown felt around the world. Small businesses are finding that customers buy less and some have to endure watching their entire market dry up. It has been two years of scrambling and juggling- even for businesses that thought they were on solid ground.  That kind of chronic stress can be wearing and demotivational.

So, how can you get your mojo back? When you feel stuck and snowed under in your business, try these techniques to get re-energized:

1. Take a day off! This is probably the most difficult for small business owners who need every spare moment just to catch up. But taking some time away from your business can help re-charge your batteries and give you a new perspective on the direction you are heading.

2. Go undercover. Put on a hat and sunglasses and go shop the competition. Find out what your competitors are doing that you are not. Find some new ideas for new products or services to offer. See what you can learn about their cost structure and whether their expenses are higher or lower than yours.

3. Attend an industry event. Every industry puts on trade shows or seminars every now and then. These are great places to meet fellow entrepreneurs and learn about what's new in your field. Being surrounded by your peers can re-invigorate you and spawn new ideas.

When you become demotivated, it can have a serious impact on your business and ends up in a downward spiral that is hard to recover from. If you see this happening, try some of the above techniques to re-light the fire.