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

Best Times for Small Businesses to Introduce New Products and Services—Besides January

For a small business, the timing of a new product or service launch can be as crucial as the offering itself. So, it’s essential to understand key factors that help determine the most strategic, data-backed periods throughout the year. This will allow us to identify the best ways to align your launch with consumer behavior, seasonal trends, and economic cycles, thereby positioning your business for maximum success and traction.

Read More »

The Waters Effect

Why some commercial landscape companies consistently outperform their competition Walk into ten commercial landscape companies and you’ll find ten hardworking owners. Long days, talented crews, a genuine commitment to the customer. On paper, they look a lot alike. But some of these companies are quietly pulling ahead. Stronger margins, better retention, steadier growth, and a business that’s worth a lot more when it’s time to sell. The gap isn’t about who works harder. It’s about who built their business on purpose instead of letting it happen to them. The companies that consistently win aren’t necessarily the biggest, and it’s rarely one big idea that gets them there. It’s a set of disciplined habits around the things that actually drive profit: pricing, labor, production, accountability, leadership, and cash flow. At Waters Business Consulting Group, we call the compounding result of getting these things right The Waters Effect™. Not just a better-run company, but a more profitable, more resilient, and more valuable one. Growth can hide a lot of problems A company can add new contracts every single year and still be quietly losing ground. Margins slip. The owner gets pulled deeper into daily operations instead of further out of them. More trucks, more crews, more markets, and somehow, more headaches without more profit to show for it. Revenue creates activity. Profit creates options. The companies that outperform know the difference, and they’d rather grow slower and stay profitable than chase every contract that comes their way. That means asking harder questions before saying yes to new work: Which customers actually produce strong margins? Which services are worth doubling down on? Are the crews hitting their production numbers, or just staying busy? Are estimates built on real labor and material costs, or gut feel? Is this growth generating cash, or eating it? Know your numbers, then actually use them Most owners get a financial report. Fewer treat it like a steering wheel. The best-run companies don’t wait for a bad quarter to find out something’s wrong. They watch gross margin by service line, labor efficiency, job-level profitability, equipment utilization, and overhead as a share of revenue in something close to real time. When you can see how a decision on the ground shows up in the numbers a week later instead of three months later, you stop reacting and start managing. Systems beat heroics Landscaping is genuinely hard to run well. Weather blows up schedules. Equipment breaks at the worst moment. Scope creeps. A small inefficiency on one crew is a rounding error, but the same inefficiency repeated across fifteen properties becomes a real financial problem. The companies that outperform don’t rely on their best people saving the day over and over. They build systems for estimating, scheduling, quality control, and purchasing so employees know what good work looks like, who owns what, and when to raise a hand. That’s not about becoming rigid or bureaucratic. It’s about giving people enough structure that the business runs the same way whether the owner is watching or not. Less firefighting, more consistency, and performance that’s actually easy to measure. Leadership is the real ceiling Here’s a pattern we see constantly: the owner becomes the default answer to every question. Sales, hiring, customer complaints, equipment purchases, financial calls, all of it funnels back to one person. The business can keep growing for a while like this, but every new contract just adds to that person’s plate. Eventually something has to give. The companies that break through this ceiling invest in developing real leaders, not just good crew supervisors. They hand off real authority, not just tasks. When that happens, decisions get made closer to where the work actually is, problems get solved faster, good employees see a path forward instead of a dead end, and the owner finally gets to think about strategy instead of putting out today’s fire. Leadership development isn’t an HR checkbox. It’s a growth strategy, and it’s a value-creation strategy. Pricing is where profit is won or lost A lot of companies lose their profit before a single blade of grass gets cut. An incomplete scope, an unrealistic production assumption, or a price that was never tied to real cost data can sink a job before the crew even shows up. No amount of hustle on-site can fix a bad number on the estimate. The companies that consistently perform treat pricing like the strategic skill it is. They know their true costs, cold. They build estimates on real production data, not last year’s guess. And critically, they go back and compare what actually happened on a job to what they estimated, then use that to get sharper next time. They’ve also made peace with the fact that not every job is worth chasing. The wrong contract, even a big one, can drain crews and cash without actually building the business. Accountability makes strategy real A strategic plan is just a document until someone owns making it happen. The companies that execute well give every important goal a clear owner, a way to measure it, and a deadline. This isn’t about assigning blame when things go sideways. It’s about clarity: people perform better when they know exactly what they’re responsible for, and leaders make better calls when they have real information in front of them instead of a hunch. Regular check-ins, clear roles, and actually following through on commitments do more for a company’s performance than another strategic offsite ever will. Freedom is a sign of a healthy business Plenty of owners find that growth made their life harder, not easier. More revenue, more employees, more equipment, and somehow less time and less control than when they started. That’s usually a sign the business outgrew its own infrastructure. A healthy company can run well even when the owner steps away, whether that’s a two-week vacation or the start of a transition out of the business entirely. That kind of freedom isn’t about working less for its own sake. It’s proof that

Read More »

What to Do with an Unwanted Inherited Business

Owning a business is not something that everyone aspires to do. Sure, many people like the idea of being their own boss. But, there are definitely individuals who prefer to avoid the stress and anxiety of being an entrepreneur. Of course, there are many different sets of circumstances. For instance, children who follow their parents and run the family business, taking it over after their parents retire. Or, people who unintentionally fall into their own business without actually setting out to do so. For example, someone who inherits a business from a relative. Although this might seem a bit far-fetched, it does happen more often than one would think. So, what options are available to an heir who really does not want to take over the business? Types of Inherited Businesses Probably the most common form of an inherited business is a family company. Usually, the children grow up in and around the operation and are at least familiar with it. Other times, the children aspire to follow their own career path and never work in the organization. Additionally, there are heirs who inherit a family-owned business that they have never really been acquainted with whatsoever. If you’ve inherited a company, there might be a lot of questions on your mind. You might not want to be an entrepreneur, or even if you do, you might prefer to work in a different industry. Even if you’re ready to take on the business, you might be unsure about how to deal with current employees and suppliers. —Nerd Wallet Though these circumstances are far less common, they do occur. One prime example is someone who inherits a commercial property. That property is leased by several other businesses and generates a profit. The owners may not even be directly involved with the day-to-day operation and rely on a firm or individual to handle the necessities. These would include things like maintenance, repairs, negotiating leases, upgrades, and more. What to Do with an Unwanted Inherited Business Your first instinct could be to just sell it and be out of the situation as quickly as possible. But, if it’s generating a consistent profit, that might not be a wise idea. On the other hand, even if it does generate a profit and you’re completely unfamiliar with it, it could turn into a gigantic mess. Here are some possible options to explore: Learn about the business. Regardless if you’re set on selling it or remotely considering taking it over, you’ve got to know what you’re dealing with first. It’s imperative that you educate yourself about the business in order to make an informed decision as to which way to go. Don’t make the mistake of letting your emotions take over. Instead, take at least a little time to understand precisely what it is and more importantly, how much it’s really worth. Consider being an absentee owner. Although this is quite common in the business world, it’s always a risky proposition. And, it’s probably why you don’t want to get involved in the first place. If you let other people run it, you’re putting your trust into others and that could easily lead to a very regrettable set of circumstances. However, if it is something like commercial property and your relative was also an absentee owner, at least give it some serious thought. Invest in the business. If you do want to give it a try, don’t go it alone. Bring in a business coach to guide you through the process of taking on an entrepreneurial role and become familiar with all it takes to head up this type of operation. If you find it isn’t a good fit, you can always sell it and move on. What other suggestions would you give someone in this position? Please take a moment to share your thoughts and experiences so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

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.