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In case you missed it: The three cycles that affect your business and news of Tradie Hour

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In case you missed it: The three cycles that affect your business and news of Tradie Hour

The last 18 months or so has been a rollercoaster ride for our businesses – economically and emotionally. These relate to two of the three different cycles that can affect your business.

So in today’s article, let’s examine these three cycles and how they affect you. These three cycles are the Economic Cycle (the grey line), the Business Cycle (the dotted line) and the Personal Cycle (the black line).

Economic-Emotional-Drivers
The first cycle most business owners think of is the economic cycle (the grey line). No matter how much we wish we could, we can’t control the economy – and this has become especially obvious in recent times!

In business, we follow the economic cycle whether we like it or not. This has its ups and downs, its peaks and troughs. Your business also has cycles – business cycles – which are shown by the dotted line in the diagram.

And if you think about those cycles and what this does for your emotions, you are also going to go on that ride (the black line) – the personal cycle. So, any business – and the people within that business – are dealing with these factors that are trying to push you and the business in different directions.

You will notice that these cycles do not coincide; that is, when your business cycle is up, your emotional cycle might be down. And when the economic cycle is down, your business cycle could be up.

So, how do you manage this? Is it possible to avoid these cycles? Unfortunately it’s not.

Of course, you can’t influence the economic cycle, nobody can – it’s too big and there are just too many variables as we can see all too clearly right now!

There will always be outside factors that affect your business that are out of your control, no matter how well prepared you are.

Governments change rules. New competitors start up. Clients can disappear. Such factors will influence your business cycle whether you like it or not.

And you’re a human being, so even with the best will and the best planning in the world, you too are going to have some ups and downs.

Even the fittest, strongest and most stable of us have up days and down days, or weeks, or sometimes even months.

This can be caused by events in your business or your personal life. None of us is immune to these potential problems. You can’t always plan for them but you do have to be aware they can happen.

If you’re having a good time at home and your energy and drivers are high, your business cycle will be high as a result. When there’s an economic cycle issue, if you are high in the emotional cycle you’ll weather the storm better, and your business cycle will remain largely unaffected.

This is where your energy comes from. So, if you can’t change these cycles, what options do you have to ensure they don’t get in the way of your success?

To make sure that these cycles don’t have an adverse effect on you or your business, you must be aware of and understand – firstly – the economic drivers affecting your business and – secondly – your own emotional drivers.

This will allow you to recognise the factors that influence your business and so success – fully navigate these cycles.

In next week’s article, I will dive deeper into each of these drivers.

Power to you!

Stefan Kazakis

Podcast

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