How to Overcome the Dip and Make Better Business Decisions
May 05, 2023
To grow your business, you will inevitably encounter a dip in short-term revenue. This dip is a common occurrence, but unfortunately, many business owners get stuck here, focusing on the cost of making a good decision instead of the potential medium to long-term benefits.
A lot of businesses will reach a ceiling as illustrated by this image
Often, to break through an income ceiling, you need to experience a dip (ie a short-term drop in revenue)
Here are some examples of situations where you might experience ‘the dip’:
- Hiring a new team member (this may require a higher cost upfront, but can lead to increased revenue in the long run)
- Implementing new technology
- Engaging an expert to help you grow
- Improving infrastructure
- Improving genetics
- Scaling up your business
If you focus solely on short-term profit, you may neglect the decisions that could bring tremendous upside in the medium to long term. This is often what keeps business owners trapped at a ceiling.
Successful business owners understand that it’s okay to experience ‘the dip’ and find comfort in making decisions that will benefit their business in the medium to long run. They take calculated risks and switch their mindset from “what might go wrong” to “what might go right” if they make a particular decision.
To help you make better decisions and overcome the dip, we’re offering free Strategic Roadmap call valued at $997 (we have 20 spots available). A Farm Owners Academy coach can help you gain clarity and develop a plan, so you don’t have to make these decisions alone. Book your free roadmap call at site.farmownersacademy.com/roadmap.
Remember, there’s risk in everything we do, but with the right mindset and support, you can overcome the dip and make better business decisions for long-term success.
Robbo
