ELINOR STUTZ
How To Combat The Ferris Wheel Syndrome
E
ELINOR STUTZ
ntrepreneurship and the Ferris Wheel both provide you with their ups and downs. Our anticipation of the highs, and how we deal with the lows, are quite similar for both experiences. A new client or an advance in business will have you excited and on a high.
Occasional help from a coach or taking a formal class will launch you into your next desired phase. Similarly, the anticipation and experience of being on top of the Ferris Wheel are exhilarating. But the high is only a quick instant in time. People new to entrepreneurship are initially excited and filled with enthusiasm about the idea of being in business. However, they soon see the need to dig in and begin from the bottom. The feeling of exhilaration includes only a tiny percentage of time spent working on the business. Reality provides the lowest of lows. As you begin, there is grand 12 | ENTREPRENEUR PLATFORM MAGAZINE | November/December 2019
anticipation of landing the first few clients. The excitement comes to a frenzy. Once business is finalized, deep concern about remaining in business can take over. A majority of start ups have to close shop before the end of their first year. Occasional calculated risk is necessary for potentially landing further up the mountain of success. At the same time, there is a need to remain current with the news and developing trends. The more challenging learning curve is to find your sweet spot for clientele. Knowing who you serve best, and how to attract that audience are essential factors for increasing business. Relentlessly working your plan and focusing on client care will attract a broad audience. Over time, you will build a stand out brand that differentiates you from your competitors. The final test is to see if you can widen your scope by varying communication and adding to your repertoire of services. Review each revenue stream. As you add new components, verify that they all work well together. You can combat the forever Ferris Wheel cycle by keeping your pipeline of opportunity full and flowing. A daily commitment to seeking out new potential clients contributes to maintaining a full sales funnel. Within a few months, the business begins to trickle and then flow through. The stress lessons as new clients become routine. And the stark contrast of highs and lows slowly begins to disappear. Photo by Matheus Frade on Unsplash
