The Emotions of Running A Small Business
Do your emotions get in the way of sound business decisions?
Women, in particular, let their emotions get in the way of sound business judgment. In business it is very necessary to be analytical and logical. Each decision should boil down to one question:
“Will this be good or bad for my business?”
Society views women as nurturing caretakers and many have been raised to fit that model. The problem stemming from this is that women are always concerned about not hurting the other person’s feelings. They feel obligated to “be nice” by transacting business even though the action does not fit their business model or make good financial sense.
Have you ever been expected to make an expensive purchase for your business, and did you go through with it even though it was too costly, for fear of “not being liked?”
Handle business swiftly and politely with a smile to avoid confrontations. Your first response is to acknowledge the request. Then, within the framework of the conversation, explain why you cannot meet the request. For example, I had an exciting opportunity to combine forces with a local TV news program. Their research was impeccable indicating a very high number of anticipated hits on my website and calls to be received if I were to sign up for the program.
After the presentation, and request for $50,000, I agreed it was of great value. I then said, “If your statistics are true, I would need to build up my infrastructure which will take longer than your short timeframe allowed for commitment.”
I agreed with their statements and used their own words to show the flaw in their reasoning for a quick decision. This method enabled me to excuse myself from the project and eliminated hard feelings.
You cannot afford to purchase from everyone. You must learn to remove the emotional side of business and set realistic expectations of others. Too often women will get upset if an acquaintance does not purchase; will not trade links on websites; and will not offer referrals. They feel it’s owed to them.
I suggest you take the “I” and “You” out of the equation and, instead, think in terms of the bottom line for your business.
Relationship selling is based on a win-win strategy. Each business owner must understand the needs and challenges of the other.
When someone tells you ‘No’ at any point in a conversation, the very best thing to do is to stop and ask, “Why?” Getting angry, walking away and stopping all communication is not the least bit helpful.
If you take the time to ask “Why?” and get a history of experiences, there will be three positive outcomes from the question. First, if an error was made, you will know what that error was and will not repeat it elsewhere.
Second, you will become adept at always understanding two viewpoints (yours and your prospect’s) which will work in your favor from that point forward.
The third scenario, and best of all, is by questioning you may easily find a solution that will satisfy both of you.
Once you know who your best prospects are, stay with that market and you will be far happier as more business comes your way. We’ve all heard, “It’s not personal, it’s just business” and now we must heed that expression.
Ask yourself, am I making reasonable requests of others and am I making the best decisions for my business?
Additional Ideas to Build Business you way include, Determine if the goodwill outweighs the cost on smaller decisions; Analyze the pros and cons of larger decisions; Will you still be able to pay your bills after adding the new commitment;
Feminine intuition is an advantage – listen to your initial reaction as it’s usually correct. If you are truly uncomfortable making a quick decision, request a day or two to reflect on the ramifications, good and bad, of the request. No one can be offended by you giving serious consideration to what is being asked of you. This last step will enhance your relationship selling and will present you as highly credible.
Strive to build a sound business environment. Your center of influence will grow And Your Business Will Prosper.