Business momentum – build a wave and ride it!
It’s a great feeling when business is good. Maybe you’ve had a small win, and that leads to another win, and before you know it you’re riding a wave that shows no signs of breaking.
Surfers might call it a bomb, but in business we call it momentum, and it’s great while it lasts. But momentum is a fragile thing – when that wave breaks, your momentum comes to a grinding halt and in a split second you could be eating sand as everything comes crashing down around you.
Why is momentum important in business?
It’s like they say, success breeds success. When your business has momentum, everything is just easier. Things start happening and you get traction on all stuff you have been working towards. It also provides your business with stability – or perhaps just the illusion of stability – and it increases the power of your brand. And as physics tells us, an object in motion will stay in motion until it meets a resisting force, so the more momentum you build the more success your business will generate.
How can you build momentum?
Momentum can’t be built on shaky foundations. You have to get the basics right – plant the seed, nurture it and watch it grow. Start with your business plan but don’t just use it as a coaster – update it, work to it and keep it alive. It’s also important to prioritise. You can’t do everything now. Think carefully about what makes the most sense to do in the short term and what will add the most value to your business? When you get the basics right, your business will start to thrive. When you have a small win, think about how you can maximise on it. Is there a value add you can offer? Is it the start of a mutually beneficial relationship? This is how you will start to build momentum.
How can you sustain momentum?
When things start to go your way, your business will pick up its own momentum and you can start to think a bit bigger. That doesn’t mean you can take your foot off the pedal because if you do, you’ll lose your momentum just as quickly as you gained it. It’s just a subtle shift of focus – from the operational to the strategic. Sustaining momentum is all about looking to the future – anticipating obstacles and identifying opportunities. To do this, you’ll need to embrace risk and set bigger and greater goals – each one greater than the last.
But the single most important thing to sustain your momentum is to expect the unexpected. Remember that resisting force we mentioned earlier - you better see it coming.
Share this article:
- Growing your business through business acquisition
- 5 reasons businesses fail
- Developing a business exit strategy
- Surviving the holiday season
- Boost your New Year retail sales
- The power of a great testimonial
- Managing change for small businesses
- Get focused to increase the value of your business
- Building business momentum
- Using trust to help you compete
- How to grow a tourism business
- How to avoid small business burnout
- The one page business plan
- How to future proof your business
- Marketing your business for free
- Have a better business budget
- Why competition is good for business
- David and Goliath business lessons
- How to prioritise your social media
- Business survival through adaption
- Do you know what business you are in?
- Tips for small business owners going it alone
- Planning for business success
- 5 steps to a better business
- Managing a seasonal business
- The dreaded Business Plan
- Writing a business plan
- Strengthen your business
- Pimp my business for selling