Identify Your End Goal
The first step in this journey is to clarify your end goal. What do you envision for your business? During a recent coaching session, a client expressed concern about work being slow and the temptation to take on unprofitable projects. When I asked her about her end goal, she revealed that she wanted to pivot toward servicing portable homes rather than continuing with new builds and renovations.
Understanding your ultimate aim is crucial. If you’re looking to specialise in a different area or reduce your team size, taking on jobs that don’t align with this vision can derail your progress.
Reflect on Your Choices
When work slows down, the fear of not having enough can lead to hasty decisions. Instead of reverting to old habits and saying yes to jobs that don’t serve your end goals, use this time as an opportunity to reflect. Ask yourself:
- Is this job moving me closer to my end goal?
- Am I letting fear dictate my decisions?
Recognising these patterns can help you avoid the common pitfall of chasing after work simply for the sake of keeping busy.
Focus on Profitable Opportunities
When considering new projects, evaluate whether they align with your goals and profitability. Here are a few strategies to help you filter out unprofitable jobs:
- Define Your Ideal Client: Know who you want to work with. This will help you identify which jobs to pursue and which to decline.
- Set Clear Criteria: Establish parameters for what constitutes a profitable job for your business. This can include factors like project scope, budget, and time commitment.
- Communicate with Your Team: Keep your team informed about your goals and criteria. Regular check-ins can ensure everyone is aligned and focused on profitable opportunities.
- Create Accountability: Work with a coach or mentor who can remind you of your goals and hold you accountable for your decisions. This support can be invaluable, especially during challenging times.
Pivot with Purpose
If you find yourself saying “yes” to projects that aren’t profitable, take a step back and reevaluate. Is this a sign that it’s time to pivot? If your ultimate goal is to move in a different direction, consider gradually transitioning away from less profitable work.
Reflect on the following questions:
- What does my ideal workload look like?
- Am I comfortable saying no to projects that don’t align with my vision?
As you work through these questions, remember that it’s okay to say no. Prioritising your business goals will lead to better long-term results and greater fulfilment.
Ultimately, the key to stopping unprofitable jobs lies in understanding your end goal and making decisions that align with it. Use quieter periods as a chance to reflect, redefine your objectives, and ensure your actions are moving you in the right direction. By setting clear boundaries and focusing on what truly matters, you’ll position your business for sustainable growth and success.
Are you ready to take control of your decisions and stop taking on unprofitable work? Reach out to us for support and guidance as you work towards achieving your business goals!
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