Would you spend money with a business, if you thought they were going broke and you wouldn’t get what you paid for?
That might seem like an odd question, yet since starting my business in the mid 1990′s, I have seen countless small business owners create nervousness within their marketplace, by the often illogical things they do, when times get tough. They see sales drop or lose a big customer and BOOM – their thinking goes into scramble mode and they put panic measures into place. These measures often serve to give the impression that the business in question is acting out of desperation.
Here’s why this is a problem: People do not spend money with, or recommend, businesses that they think are likely to go broke!
Now let’s compare that approach, to what we see when a business is inspiring confidence within the marketplace rather than creating nervousness and doubt.
Marketing with confidence
Ask anyone who has been in business for a while and they will confirm that it’s far easier to attract great new clients or generate more sales, when times are good. One of the reasons for this is that when times are good, we feel confident and that feeling of confidence comes across, not only in our decision making but in our conversations and everything we do.
I was speaking with the owner of a web design business recently, who told me that he had just landed a massive new contract. He believes that the primary reason he won that contract, was that he was able to quote for it from a position of strength. He explained that because business was good, he conducted the meeting with this new client feeling confident and relaxed. Then, he quoted a fee for the project that truly reflected the high quality of his services – Rather than a bargain basement fee, which he had been doing last year as he scrambled for new business unsuccessfully.
Now, I’m not saying that when times are hard, we should just smile and quote higher fees – Far from it! What I am saying, is that we can either inspire confidence in our business, which will help our situation – Or we can generate doubt and make people feel nervous about our commercial future, which will only make things worse.
We can focus on answers or we can focus on problems.
We can focus on what we want or we can focus on what we fear.
If you control your focus, seek advice from people who have the answers you need and work REALLY hard, there are very, very few business challenges that you can’t kick the crap out of!
Jim Connolly can help you grow your business and achieve the breakthrough marketing results your hard work deserves. To find out more, simply click here!
Hey,
Great post and great points. Recently I moved from a company struggling to get by to a company on the upswing. Wow what a change in the general energy of the employees and business strategy. Yesterday I was having a conversation with an old co-worker about needing to have a positive work environment to be successful. Without the drive and desire, no business is going to be successful.
Companies need to be able yo address the issues but focus on the solutions. How can you be sucessful if you don’t keep you eye on the goals and how you are going to get to them.
-T
Hey Teresa. Your point about the importance of a positive working environment. Our environment plays a huge part in the way we think and the actions we take.
Thanks for the comment.
Great article again Jim C.
I find funny to see large & small online service companies die around Me every year.. However I have kept my pace with few (last year 76 clients) but this year is FOCUS to acquire My 1000 goal…
Thanks Jim Connolly
Norman Flecha
Straigh Talk
.-= STRAIGHTALK´s last blog ..Is HUBze ever gonna launch =-.
Hi Norman. It’s good that you are setting your targets higher and focusing on how to achieve them. Kudos!
Kudos once again Jim,
I just saw someone on Twitter bitching about how bad business was generally. Makes them sound both in trouble AND ALSO small minded.
Come on people. You gotta be brighter than that!
I agree Garry. It has always seems strange to me, that people set out to create doubt in themselves or their brand. Thanks for the feedback.
Yep, you can see the biggest example of this with the Big 3 U.S. automakers. Ford was the only one of the three to NOT accept bailout money, and they’re reaping the benefit. The other two accepted the money and raised buyer uncertainty by doing so.
.-= Tom Wanek´s last blog ..Escape The Box =-.
I have been working with a software company who cut staff wages, changed employees contracts, increased prices and then couldnt understand why sales were down.
They lost 7 experienced sales peeople in 2 months, a combined total of 60 years experience walked out the door, they had been the companies backbone for the past 5 years.
Customers notice these things, changes sometimes have to happen, but they have to be managed correctly.
Hi Calvino. I agree that customers notice far more of what is going on behind the scenes, than many businesspeople seem to think. We all need to be aware that our actions are sending out a message to our clients and the marketplace. Thanks for the comment.
The least expensive option often appears the most desperate. And as you say any business in that position and not a current market leader may be viewed as vulnerable. In the end we are all front runners and as Tom mentions with Ford the results speak for themselves.
.-= Kendra´s last blog ..An Alternative Approach To Buying Green =-.
Hi Kendra. I like the way you draw highlight the difference between a market leader with the least expensive option – as opposed to a small business being the lowest quote or fee. Thanks.
Jim, quite often if I am shopping online I will stay away from the lowest price player unless they have superlative ratings that are easy to find. In retrospect it’s probably more important to me that they don’t have a lot of negative reviews from the BBB and other agencies and rating services. There are those that can provide the lowest price while providing great service, NewEgg being a classic example that is generally loved by techies.
.-= Kendra´s last blog ..Getting Lost With Ceramics =-.