Fear And The Role It Plays In Your Business
Fear is a part of everyone’s life and how you react to it makes a difference in your life and in the lives of those around you. See how it can affect business.
Fear And Marketing
In some niches, fear can actually increase your profits. Some of these niches are:
- firearm sales
- security system sales
- self-defense courses
- and more
Fear in a business owner when it comes to marketing can potentially slow or stop your business growth.
There are multiple reasons that a business owner may experience fear about marketing and some of these are:
- The business owner cannot clearly see the value in the marketing platform that’s recommended.
- The business owner doesn’t know how to measure the ROI for the type of advertising being proposed.
- The business owner doesn’t have a clear handle on their budget so they don’t how much money is available for marketing.
- The business owner sees marketing as an expense rather than a profit generator.
Marketing when done correctly should generate more business than it costs.
If you, the business owner, know your numbers, you will know how many leads and rejections it will take for you to make a sale.
Far too many business owners don’t know their numbers, don’t have good sales funnel’s in place, don’t have a good handle on the financial health of their business and the budget that they create frequently does not include marketing.
Many small businesses that are sole proprietorship’s have owners that take the DIY approach because they are afraid to put a dollar value on their time, they feel they can’t afford to hire someone to do their marketing or they are afraid to give up control.
Time is your most precious resource and it’s often wasted trying to learn how to market your business yourself instead of spending that time building your business while someone else does the marketing for you.
Fear is a natural part of self-preservation but it has very little use in most businesses.
Every time you have the courage to consistently do something that makes you uncomfortable, you are chipping away at the fear that makes you uncomfortable.
These consistent actions will help you increase your confidence and competence in what you are doing.
Share this with your friends and colleagues then leave your thoughts below.
Last 5 posts in Business Success
- 3 Types Of Additional Income Streams For Local Business - June 17th, 2017
- Does Your Local Business Have A Residual Income Option? - June 3rd, 2017
- 5 Mistakes Local Business Startups Make - December 31st, 2016
- How Reputation Marketing Can Help Your Local Business - September 24th, 2016
- 3 Mistakes Consultants Make With Business Owners - September 10th, 2016