Founder Turnaround Talk
One of the side effects of being in distress is that distressed business owners may find that they suffer from inertia. This is the state where the company has neither forward nor backward momentum.
Perhaps the fact that the company does not have any backward momentum is great news. However, at the end of the day, distress can only be resolved with a well thought out plan and a commitment to the cause.
Procrastination is a symptom of inertia and is something that is not only problematic, but very difficult to resolve. I recently read an article on entrepreneur.com which points out how companies can effectively address procrastination.
Allow a grace period
The article points out that procrastination is the other side of the perfectionist coin. Business owners are so obsessed about the success of their business that they may suffer from analysis paralysis. This means that they will not be able to take an honest look at what lead to the company’s distress.
The author of the article points out that distressed business owners should be allowed to make mistakes because they can learn valuable lessons from them. This one action can make business owners feel relieved and inspired. The caveat to this is that these mistakes need to be made in a controlled environment where BRPs can help realign the ship.
If your clients are feeling stuck in an endless loop of procrastination, remove the burden by giving themselves the space to fail and learn from their mistakes.
Detach from the results
The article adds that, when a grace period is built into planning or work, distressed business owners may be offering themselves a breather. If they really want to work with inspiration, BRPs should help them remove the outcomes for a short period.
Distressed business owners should complete the task because you enjoy the task, not because they have to do the task. This one act of just letting distressed business owners off the hook can be liberating.
Whenever distressed business owners feel overwhelmed and procrastinate because the task feels so daunting, remind them to detach from the results. This can immediately melt away the tension and will allow them to reconnect with life again, making them feel inspired.
Photo By: Unslash
Do not judge
Distress is an emotional time for business owners who will feel that they are being attacked from all sides about their role in the company’s distress.
The article points out that judging distressed business owners harshly is just inviting procrastination. Whenever you judge yourself, you are starting the vicious cycle that has no end. The first two steps do not guarantee that you will not fail. They are there to get you mobile again after being paralyzed with fear. This third step will help you to cope with the failure in a healthy way if your fear becomes a reality.
The role of the BRP
When it comes to addressing distress, BRPs are essentially tasked with building a culture of accountability within the company. No business owner is important and we all make mistakes from time to time. Believe me, I have made my fair share.
The secret is to humanise distressed business owners. Guide them towards acknowledging their role in the company’s distress, and helping them find inspiration once again.
