Lately, I’ve been looking at what should be next for my business. All the signs are there that it’s time for a change and so it’s just a matter of what kind of change I will make.

In this economy, I’m hardly alone. Many people who have worked as a consultant for many years are likely wondering what’s next for them as well. Companies seem to be centralizing and work is harder to come by. So many consultants are trying to decide if this is still the life for them.

As we all contemplate that, let’s take a look at some of the signs that your business needs a change.

Changing business values

Before my daughter arrived on the scene, I felt confident with what my values were for my company. But after she arrived? They shifted faster than I could fully grasp what they are.

Flexibility was always the top of my list. I was able to sacrifice some reliable income thanks to my savings and other factors in my life.

Nowadays? While flexibility is near the top (I always want to be there for my daughter, after all), it’s not my number one value anymore. Reliable income has leapt to the top of the list. I just can’t take the chances I once did and risk harm to my daughter.

Does that mean I’m ready to jump ship on my business and go in-house somewhere? Not necessarily. It just means that I am MUCH more open to different opportunities than before. If I know that it will provide reliable income for my family, I’ll give it more consideration than I have in the past. And that’s even if it sacrifices some of my flexibility.

Changing economy

Like I said above, the economy has changed drastically. The pandemic ushered in the heyday of remote work, which opened up more possibilities to freelancers and consultants. Work we never dreamed was possible was suddenly at our fingertips.

The last year, however, has been the exact opposite. Companies are tightening up and recalling all of those remote workers. And that has meant less work for freelancers and consultants. Some of the work we already had was also recalled as well. Because proximity has been confused with effectiveness. But that’s another blog post.

If lots of companies are chasing after the same exact work and the pool of that work is shrinking, it’s time to start thinking about a change. And I think that’s true even if you are winning some of that work. It’s not sustainable. Making a change before it gets worse will help keep your business going longer. And yes, this is super difficult to think about when you’re busy, but it’s worth it.

Changing trends

AI shook up the game, and all of a sudden, a significant number of brands thought social media could be done by AI. Do you know what happened then? In an effort to save money, a whole lot of social media marketing people got laid off. This strangely even hit influencers as AI influencers became a trend. And a whole lot of social media marketing people in the job market for almost non-existent jobs meant they were a dime a dozen.

For me, this thankfully coordinated with a time that my daughter needed me more, so I was changing up the kind of work I was doing already. But for other people, it was a shock.

This has now stabilized. There is more work again after companies realized the limitations of AI and its proper place in social media. But it’s still an excellent wake up call to keep up with trends and to continually diversify what you do.

If you’re focused on just one aspect of public relations or marketing, what happens when a trend completely upsets what you do? Have you diversified your skills enough to pivot? Or will you be stuck hoping the pendulum swings back into your favor? If you can’t confidently say that you’ll be safe, it’s time to change your business and diversify what you do.

You’re not happy with your business

If you are not looking forward to your work every day, it may be time to look at what you are doing. I’m not talking about those rough days or those few tasks that are difficult to do. I’m saying that if you are having a hard day most days or if you are having trouble doing most of your tasks, then you need to make a change.

In the end, life is super short. You deserve a good life that makes you happy. Although you can’t make a business easy and fun, most of it should at least be enjoyable. If you are in a place where you’re not finding it enjoyable, make a change now and find that joy in your life again.

Why did you make a change to your business?