If you’ve ever felt stuck in your business, you’re far from alone.
Small business consultant Barry Moltz says that every business gets stuck from time to time.
And he believes it can happen for several reasons:
“Sometimes it’s the sales “glass ceiling” where your sales just won’t budge in spite of your best efforts. It doesn’t get much more frustrating than this.
There are times when leads are at an all-time low, new customers are barely trickling in and existing customers fade away. Not fun, but we’ve all been there.
Oftentimes, it’s simply a case of burnout. The business owner becomes completely exhausted. Their family suffers, their business suffers and life stops being enjoyable. It’s a real rut and at this point, it is absolutely critical to transform the situation and get unstuck as quickly as possible.”
Moltz, one of the Small Business Trends Judges, specializes in helping businesses get unstuck. There are plenty of resources to help startups, he says, but few that help a company a few years down the road when they need it most. Thus, his niche is the stage when businesses get stuck.
Moltz has written several books to help business owners, including Bounce! The Path to True Business Confidence. He’s a regular contributor to sites like American Express Open Forum, Forbes and Crain’s Chicago Business. He has appeared on TV and radio programs like The Big Idea with Donny Deutsch, MSNBC’s Your Business and NPR’s The Tavis Smiley Show.
Failing for the Lesson of Failure
Like so many entrepreneurs, Moltz has had his fair share of business failures. The lesson, he says, is in the failure itself:
“Failure doesn’t always teach you something. The most important thing is to realize that failure is just part of the business cycle. There will be success and failure. Learn what you can, let go, and take another action to get to success.”
Since Moltz has worked for one of the largest companies in the world, as well as numerous small businesses, he knows how similar (or not) the two are. He says both small and large businesses make mistakes, but larger companies can hide them more easily.
Are We All Crazy?
Moltz says you’d have to be crazy to start a business. Does that mean all of us are crazy for doing what we do?
“If you looked at the statistical chances of financially succeeding, you have to be crazy. The risk is too great! People do it out of passion or a calling.”
Given that we’re risk-takers, over-achievers, and Type A personalities, maybe we are all a little loco.
Editor’s Note: This article is one of a series of interviews of key players in the Small Business Influencer Awards.
Call me crazy! I’m okay with it.
Susan: What’s the meaning of the word loco? 😉
I know exactly what you mean… and when you’ve invested lots of time and money in your dream, sometimes, calling it quits is a hard thing to do even if you have this gut feeling that you need to cut losses NOW. So, the only question left now is.. ‘how far can you go?’
I think it’s nice to know that cutting losses isn’t always the only option, with folks like Barry to help!
If you don’t find yourself stuck, you’re probably not pushing yourself hard enough at the other times. Stuck is a natural and unavoidable (but lousy feeling) pause in a business lifecycle.
It is unavoidable. It’s how you handle the stuck that says whether you’ll continue.
I like the man’s attitude, coming at small business advice from an angle I don’t typically see in my Reader feed: Going after the small businesses who have already started up and had success yet hit that probable wall. Also, the idea that sometimes, failure is just that, failure. Sometimes you just have to gather your pride and move on, not dwelling too much or over-analyzing.
Agreed. There is a lot of focus on the startups, but afterward, who else will help?
I get stuck and I tend to blame it on the lousy economy. There’s probably some truth in that, but it’s not a helpful approach.
At least you know you’re not alone!
Great interview, Susan!
Barry knows business, and is really good at getting to the heart of the matter for small business owners that seem to be stuck.
Barry is a good guy who doesn’t talk down to people who are struggling in their businesses.
I’m glad that I know Barry, personally.
The Franchise King®
He’s got a great niche, doesn’t he?