When you launch a business, the prime objective is to achieve the BEP (Break Even Point). Yes, it is the moment when you don’t need to put money from your pocket. It is needless to say that the journey is not smooth. Even if you have a passionate team and enthusiastic business environment, managing the business is more challenging than starting. Once you gain a certain momentum, you need to put efforts in reenergizing and recharging the team. Reintroducing the entrepreneurial spirit is a hard nut to crack. You should focus on core values and alter the organizational structure in such a way that you bring the team back to the track.
Stay connected to the clients, customers and channel partners
Experts say that an entrepreneur starts losing the grip on the business when he or she starts ignoring clients, customers and channel partners. One must remember that the existence of the business is solely dependent on these entities. Listen to their complaints and take their suggestions with an open spirit. Their input is greatly essential for you. Don’t let a thick layer formed in between. You remember the day you started the business? Didn’t you take them into consideration with a true entrepreneurial spirit? Don’t let it stop as your business grows old.
The voice of employees is equally important
You had a team of enthusiastic employees when the business got launched. Also, you had a different approach and attitude while dealing with them. Their voice had importance, and their opinions were considered. That was quite an exciting and rewarding time for your employees. What happened all of a sudden? Why the innovation and creativity disappeared? It is because employees feel that they don’t have any voice in the organization. Policies and processes are stronger than the employee opinion. It is not a good thing from the point of view of keeping a high entrepreneurial spirit. Correct the situation as soon as possible.
Correct the disparity in the organizational structure
Had there been a major organization structural change in the past? If yes, then you need to look into it keenly. Do you feel that the drop in the spirit is visible after the structural change? It happens many times that the steps taken with the intention of making betterment bounce back. Review the structure and make necessary corrections if required.
These tricks are extremely helpful in making the organization lively again.