Moving Beyond a Sales Plateau
Jigsaw Performance is on a mission to improve the small business ownership experience. Having a profitable business is one of the most important outcomes for a business owner because it provides them with the freedom to pursue their goals - both business and personal. So when they experience a plateau in revenue after a period of steady or rapid growth, they become anxious and frustrated. They may even question their abilities, strategies, and the overall viability of their business, resulting in feelings of discouragement and self-doubt.
Revenue is Stagnating and Stress is Building
"Why isn't the approach that got us here working anymore? How can we continue to grow?"
After driving themselves and their teams even harder, they struggle to get better results and job satisfaction suffers for everyone. Doing more of the same isn't the answer. If what you are doing is becoming less effective, doing more of it is not going to work. It is a frustrating and exhausting place to be. So what's the answer? What shift is required?
How to Address a Revenue Plateau
The key to moving beyond the plateau is to step back and take a higher perspective to see the whole picture of the business. Reconnecting with 'why' the business exists, understanding the changes in the external environment including the shifting needs of customers, evaluating the effectiveness of existing strategies, identifying the company’s key capabilities to continue to grow given changes in the environment, establishing goals and building a roadmap to get there will provide the foundation to get on a better path.
In other words, owners need to step more into the CEO role. Performance plateaus may occur when leaders take a low-level perspective, focused on the operational detail in one part of the business. Without the higher level, it is all too easy to grind away and become stuck rather than soar to new heights.
Step into the CEO Role
Stepping into the leadership role involves a shift in mindset that can best be achieved working the an objective coach who can help identify blind spots and gaps in execution that are limiting their effectiveness.
Working with a coach can be highly beneficial for a business owner facing a sales plateau in several ways:
Objective Analysis: A coach can provide an outside perspective and unbiased analysis of the business, helping the owner identify underlying issues contributing to the sales plateau.
Strategic Planning: Coaches can work with business owners to develop and refine their strategies, offering guidance on how to effectively allocate resources, adjust marketing efforts, and identify new opportunities for growth.
Accountability: Coaches can hold business owners accountable for implementing agreed-upon actions and following through with their plans, helping to maintain focus and momentum.
Skill Development: Coaches can help business owners develop new skills, such as sales techniques, leadership abilities, and time management strategies, which can contribute to overcoming the sales plateau.
Emotional Support: Experiencing a sales plateau can be emotionally draining for business owners. Coaches can provide encouragement, validation, and support, helping to maintain motivation and confidence.
Network Expansion: Coaches often have extensive networks and can connect business owners with valuable resources, industry experts, and potential partners, which can lead to new opportunities and fresh perspectives.
Engage and Mobilize the Workforce
Once the path forward is clearly established, aligning and mobilizing the team to help execute the change will be key in gaining traction. Letting go and delegating responsibilities is a big part of engaging the team.
Provided everyone is truly committed and supported, reaching another level of performance becomes possible and the inertia of the plateau is overcome. Achieving new levels of success together will enable the team to go forward with confidence and tackle the hard work of realizing the vision – breathing life into what had previously seemed an unachievable dream.
It is exciting stuff. It releases passion. It evokes vision. It reminds people why they do what they do. It gives meaning to work. It reconnects organizations to their purpose.
Interested in learning more about how to determine the right path forward for your business? We can help. Reach out and let’s discuss your specific needs and determine the best solutions for your business.