Your business is your baby.

You’ve poured yourself into it over the years – given it your time, attention, love, money, and pretty much everything else you’ve had. You’ve had your ups and downs, but this… this is different.

This is more than just a “down” period. You’re in real trouble now.

Your business is drowning.

What in the world are you going to do?

I’m sure there’s a “Top Ten Things To Do When Your Business Is Drowning” kind of article that could be written here that would include things like cutting expenses, looking for new partnerships, exploring new verticals for your business, etc.

But I’m not going to write that article.

Instead, I’m going to go a little deeper and tell you what needs to happen first. I’d like to share two suggestions that may sound overly simple, but will very likely be hard to follow.

Here they are:

1)      Swallow your pride.

2)      Ask for help.

If you’re an entrepreneur, I’m guessing you’ll admit that these steps are not easy ones for you to take.

And why is that?

Because you’re an entrepreneur.

By the very nature of the word, you make things happen. You started this business, you got if off the ground and running, and you figured out how to make it all work… before this happened.

You’re an entrepreneur.

You’re creative. Resilient. Smart. Resourceful. Self-reliant (sometimes to a fault). Proud of what you’ve been able to accomplish with your business… until now.

You’re an entrepreneur.

You know this business better than anybody. You know the products, services, market, customers and suppliers inside and out. Your brain is working overtime right now trying to figure this all out. If anybody can do it, you can. You just have to fix it before it’s too late…

You’re an entrepreneur, so this is how you’re wired to think. Admitting that you’re struggling and actually reaching out and asking for help may be extremely difficult for you.

But it won’t be as difficult as watching your business go up in flames.

Whether you solicit paid or unpaid advice, you need to find someone with whom you can share your troubles. Get them off your chest. Swallow your pride and admit that you need some help.

 You’re not the only one who has hit hard times; other entrepreneurs who are smarter and richer than you have had their share of troubles, too. But they’ve gotten help and rebounded, and so can you. Lose the ego, call in the troops, and get to work on saving your business.

Bring in some people outside of your industry. Gather a team of people with sound business experience and strategic minds who can offer fresh and different perspectives. Lay it on the line and be up front with the challenges you’re facing. Again, whether they’re paid of unpaid, there are people out there who can help.

But no one can help unless you ask.

Don’t wait.

Don’t let your business drown because you’re too proud to ask for help.

Once you’ve waved the white flag and called for help, you can get started – together – on working your way out of your troubles. You can develop your own customized Top Ten (or twenty…) list of things to do to save your drowning business.

But, for starters, you’ve got to tackle my Top Two list:

1)      Swallow your pride.

2)      Ask for help.

 

Photo: cogal, iStockPhoto.com