Why You Should Park Your Ego At The Door When Building A Business
You have to have a bit of an ego to start a business but if you let it get in the way while you’re doing business you can stifle your growth. See how below.
As a business owner, you hire people to do tasks that you don’t want to do, can’t do yourself or don’t have time to do if you want to build your business.
Unfortunately, too many business owners hire people and then choose to micromanage them instead of trusting them to do the job correctly.
Your ego tells you that no one can do the job as well as you can but your ego may not be right.
Regardless of how good you think you are, if you don’t like doing the task, you won’t do it as well as someone that actually enjoys doing that task. Accept this reality and move on to something that deserves your attention.
If you hired experts to help market your company and they are doing their job properly, give them room to function and listen to their advice.
When you micromanage experts, they will soon feel that you don’t trust them and they will resent you for that mistrust.
Most experts will look for another client that will appreciate their efforts and once they find that new client and have a recurring income in place that is equal to or better than you are paying them you will be fired as a client.
If your business is in a very narrow niche, don’t fool yourself into believing that you have no competition just because you are offering something that is unique.
Unfortunately, many consumers compare apples to oranges and make the choice based on price rather than the quality of the products or services that are being offered.
These consumers cannot tell the difference between the two offerings and many of them would not care if they could tell the difference.
The reason knockoffs of designer clothing sell so well is that people look at the price points more than the quality of what is being offered.
Many consumers need to trust you before they will buy a high ticket item from you.
The price of the low ticket item that will earn their trust will vary depending upon your niche and the types of products or services that you offer.
In many niches, the product or service offering must be under $300 or the chance of moving them up to an item the cost $500 or more will drop dramatically.
If your product line starts at $500 and goes up from there, a lot of people will go to a competitor that offers something similar that they can buy for $100 or less.
You may not see that competitor as a competitor but the reality is that your potential customers do.
These people don’t care that the product isn’t as good as what you offer because they don’t know how to tell the difference and they’re not willing to pay your prices until they find out that that low cost alternative did not solve their problem.
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