Ways Business Owners can Deal with Personal Crisis

Entrepreneurs, by their very nature, are self-reliant. They set goals and achieve them with confidence. When a personal crisis strikes a business owner, it can be very damaging to their corporate environment and even its micro-culture. Suddenly, the dynamics change and can lead to irreparable harm. We’ve all heard the advice not to bring personal problems into professional space, but, some are so large they have a nearly uncontrollable effect. It’s best to bring the situation into perspective, but, doing so might be difficult to accomplish.

Ways Business Owners can Deal with Personal Crisis

In some instances, it’s possible to prepare a business for a crisis. When it’s impending and inevitable, business owners should prepare by speaking with their team members about delegating and assigning responsibilities, seek legal advice (if applicable), and focus on what’s most important. There will be difficulty in maintaining balance but by being proactive, you’ll have less to worry about.

Eventually it happens to the best of us. Something occurs in our personal lives that is so devastating, we have difficulty concentrating at work. It may be the death of a loved one, a divorce, a financial crisis, or serious damage to our homes. When our personal lives are in chaos, it can be hard to focus and get what we need to do done. —Inc.com

Unfortunately, it’s often the case that a personal crisis strikes without warning. When it does occur, it can be very burdensome to get through. Even the toughest entrepreneurs will have difficulty trying to deal with upset in their personal lives while continuing to run their businesses. Here are some ways business owners can deal with a personal crisis:

  • Outsource and be willing to ask for assistance. It’s okay to let go and farm-out work during turbulent times, especially if you’re having trouble staying focused and concentrating. Also, there’s no shame asking for assistance from your team — it’s actually a smarter choice.
  • Be upfront with customers. As soon as possible, let your clients know about the situation. You don’t have to go into details, but you ought to alert them to what’s going on, particularly if you’re not able to work as usual. You’ll find most to be understanding and that helps to give you some peace-of-mind.
  • Surround yourself with positive people. This is something that successful entrepreneurs naturally do but it’s very important when you’re going through tough times. Personally, I lean on others as well as my faith and prayer to shoulder the burdens of crisis. It’s uplifting and it can be a way to see the silver lining knowing others are walking with you.
  • Give team members more flexibility. Your employees are huge assets to your business and during a personal crisis, can be the best go-to source for carrying-out day-to-day operations. Give them the flexibility that’s needed to keep your company running smoothly.
  • Do not put undue pressure on yourself. If there’s one thing entrepreneurs struggle with, it’s the fear of not getting the job done. When you are dealing with personal issues, give yourself permission to lighten your workload.
  • Take time to reflect on what’s most important. This is an ideal time to put everything in perspective. Give yourself time off and reflect on what’s truly important in your life.

In addition to these, you should be honest with yourself about your life’s direction. Some business owners who experience a personal crisis use it as a learning tool advantageously, but others allow the event to cloud their judgment and make rash decisions. When you’re not thinking clearly, be willing and ready to ask for advice from someone you trust. In my life, I have found great opportunity comes from crisis because of my willingness to reflect and make changes. How have you overcome crisis and remained focused and successful with your business?

Want to find out about what a business coach can do for you?

[shareaholic app=”follow_buttons” id=”26833294″]

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest

Related Posts

All Town Auto photo

How All Town Auto Traded Cash-Register Chaos for Real Financial Clarity

.elementor-widget-text-editor{font-family:var( –e-global-typography-text-font-family ), Sans-serif;font-weight:var( –e-global-typography-text-font-weight );color:var( –e-global-color-text );}.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:var( –e-global-color-primary );}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap, .elementor-widget-text-editor.elementor-drop-cap-view-default .elementor-drop-cap{color:var( –e-global-color-primary );border-color:var( –e-global-color-primary );} When Ken and Staci Marcy looked around their 18-bay automotive repair shop in Arizona, they saw a business that was busy, profitable in stretches, and completely unmoored from real numbers. All Town Auto Fleet Repair had built a loyal customer base, but the books ran on cash-basis habits, nobody could say for certain what any given job actually cost to deliver, and a family succession question was quietly building in the background. A Busy Shop Running on Guesswork All Town Auto was a single, high-volume location, and by most outward measures it looked healthy. But underneath, daily and weekly operations weren’t being tracked consistently, and because the accounting was cash-based, the Marcys had limited visibility into their true gross margins. Cost of Goods Sold didn’t accurately reflect what labor and parts were really costing the business job by job, which meant pricing and profitability decisions were being made partly in the dark. Leadership structure was another soft spot. Roles between ownership and management weren’t clearly defined, there were no standardized position descriptions, and technicians and shop leaders weren’t being measured against consistent performance metrics. Onboarding and off-boarding had no formal process, and issues like rework and “comeback” repairs weren’t being tracked in any structured way. On top of all of that, the Marcys were trying to evaluate future growth and expansion opportunities while working with limited capital — a difficult combination even for a well-run shop. Then there was the family dimension. The Marcys’ son worked in the business but wasn’t aligned with its long-term direction; he wanted to strike out on his own and open an independent repair shop. That created a delicate leadership and succession question that had to be handled with as much care as the financial ones. Bringing in Financial Discipline In April 2017, the Marcys engaged Waters Business Consulting Group to bring financial discipline, operational clarity, leadership alignment, and improved profitability to All Town Auto. The engagement started with the basics: daily and weekly reporting requirements were put in place for shop leadership so that performance could actually be tracked in real time instead of discovered after the fact. From there, the team guided All Town Auto through the transition from cash-based to accrual-based financial visibility, and reorganized Cost of Goods Sold so it finally reflected the real economics of labor and parts. Position descriptions were rebuilt around the roles themselves rather than the individuals filling them, and technician and management performance metrics were tied directly to accountability. Leadership responsibilities — including shop-level P&L ownership — were clarified so everyone knew what they were accountable for and to whom. With better numbers in hand, Waters Business Consulting Group built financial forecasts and updated P&L models to support smarter decision-making, and ran a feasibility analysis on the expansion opportunities the Marcys had been weighing. Standardized onboarding and off-boarding protocols were created to reduce the operational risk that comes with staff turnover in a busy shop. Handling the Family Transition Perhaps the most delicate piece of the engagement was helping the Marcys and their son work through an equitable transition plan that would let him pursue his own path without damaging the family relationship or the business. That work paid off: their son went on to open North Mountain Auto Repair, which remains in operation today. The Results The shift from reactive, cash-based operations to disciplined, accrual-based management gave the Marcys something they hadn’t had before: real visibility into their gross margins and the confidence to make informed decisions about expansion and capital allocation. Reporting became consistent and reliable, leadership accountability strengthened at every level of the shop, and standardized processes reduced the operational risk that comes with an unstructured business. Ultimately, that financial discipline translated into increased revenue and stronger margins for All Town Auto — while also giving the family a clean, workable path to launch a second successful shop under different ownership. If your business is running on instinct instead of real numbers — or if a leadership or succession question is quietly complicating your growth plans — a fresh set of eyes can make all the difference. Waters Business Consulting Group works with owners across Arizona to bring the same kind of financial clarity and operational discipline that transformed All Town Auto. Schedule a free consultation to talk through where your business stands today. Contact Waters Business Consulting Group

Read More »
Mental health illustration

How Entrepreneurs can Improve their Mental – and therefore Physical – Health

Even the greatest business titans in history weren’t immune to stress—and today’s entrepreneurs face plenty of their own. Long hours, financial uncertainty, and constant pressure can quietly erode both your mental and physical well-being if you let them. Fortunately, there are practical, proven ways to protect yourself before burnout sets in. Here’s where to start.

Read More »

Imagine Selling Your Business…

How Would Your Life Change?

You didn’t start your business just to stay busy—you built it to create freedom, security, and options for yourself and your family. Selling your business can be life-changing, but the real question is whether you’re intentionally building toward that outcome or simply leaving it to chance.

Sign up below for a free consultative session to learn what your business could be worth today and in the future! 

Thank you for your interest in learning what your business is worth. We will be in touch shortly.