Hey entrepreneur,
Have you ever bet on a "sure thing" only to watch it unravel before your eyes?
I've been in that spot more times than I care to admit, and it never gets easier.
Let me take you back to a turning point with DigitalMarketer (my first Inc. 500 business), during what should have been our prime.
After years of growth and solid profits, everything stalled. Sales dried up seemingly overnight.
The weirdest part? Nothing obvious had changed.
We were pushing the same products, targeting the same market, using the same strategies that had served us well up to that point.
Yet, suddenly, everything had changed.
In a mix of panic and desperation, I made the hardest decision of my career—I stepped down as CEO and hired a seasoned executive to take the reins.
I bet that bringing in an experienced hand from a big corporation to stabilize things was a "sure thing."
Boy, was I wrong.
The new CEO started cutting costs drastically, which at first helped our cash flow issues. But these cuts were more like quick fixes that didn't address the deeper problems.
Soon, it was evident that things were getting worse, not better. About ten months in, we were spiraling towards failure.
It wasn't until my co-founder threatened to leave that I took back control.
But I was just as clueless and scared as before. I was too proud to ask for help, too embarrassed to admit I was floundering.
I isolated myself, avoiding mentors and peers, trapped by the shame of my perceived failure.
It was only when I finally opened up—when I shared my fears and failures—that I realized I wasn't alone.
In fact, just about every entrepreneur I spoke with shared a nearly identical experience.
Growth itself didn't hurt us.
It was the decision to scale the company to the "next level" after experiencing this massive growth that seemed to seal our fate.
This realization was painful, but it was also strangely comforting.
Again…I WASN'T ALONE!
None of us were. (And you aren't, either.)
And most comforting of all, it wasn't just my peers who identified with this experience.
I soon discovered that my mentors, the people I respected the most because they had "been there and done that," had gone through the exact same experience…many of them MULTIPLE TIMES in their journey.
I'm sharing this because if you've ever felt alone in your entrepreneurial journey, wondering why things aren't working, I want you to know you're not alone.
Here's my takeaway for you: Pause before you pivot.
Before making a critical decision or implementing what seems like an instant solution, ask yourself if it truly addresses the core of your challenge or if it's just a superficial fix.
Often, the best action is to seek advice, open up about your struggles, and learn from those who've been on this path before.
Talk soon,
Ryan Deiss
Host, Get Scalable Live
Co-Founder & CEO, Scalable.co
P.S. If my experience resonates with you and you're curious about finding real, actionable strategies that align with the gritty realities of entrepreneurship, I've got something that might just help.
I'm hosting a webinar on Wednesday called "What's Working Now: High-Octane Hacks To Fuel Rapid Growth in Bootstrapped Businesses."
This session is tailored for established businesses and unveils the most potent strategies currently driving massive results for our 43 portfolio companies.
Interested? Register here for the webinar.
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