Committing Business Suicide – Part 2

Yesterday I shared my personal experience of how I almost committed business suicide. You can read about it here.

Today I’m going to continue my story by sharing with you 4 more tips to help you on your business journey.

Helping others

Helping others is a good thing but it can seriously damage you and your business if you are not strategic. If you are doing pro bono or free work, make sure that there is a long term benefit to this. I’ve helped many people over the years with their online presence ( and I now wonder why because most of those people are MIA and nowhere to be found and have done nothing to help me in return. ) In the early days, I was keen to build up my reputation by getting to Know people, have them Like me and then also Trust me enough to do business with me.

As a result, my approach was less than strategic as I helped anyone that asked and the consequences were that as soon as the work was done, I never heard from the ‘client’ again. I’m not saying that you must expect something in return because that is not the tried and tested way to do business in our current age.

What I mean by this is that if you are too busy helping others for free, how are you going to build your business and your cashflow reserve? It also has an impact on the use of your time where marketing your business is more of a priority than anything else. If you are too busy helping others, then how are you helping yourself and your business to grow?

Think about it this way, if you must do some ‘free or pro bono work’ then make sure you set aside specific time for that and be very clear with the person involved that it is your ‘time’ and with that comes a boundary on what you are prepared to do to help them. It may sound selfish but really when it comes to the bottom line here, always ask yourself “how is this serving my business and my clients in the long run?”

Avoid taking on too much work, as this will cause you a lot of stress and overwhelm.

Start slowly and accept enough business to pay the bills until you are ready and confident enough to expand. Growing too quickly can be a recipe for disaster if you work for yourself and have no-one to delegate the extra work to. If you gain media or other opportunities, evaluate the benefit and see how you can continue to do your work and cope with the commitments you make to others. Scheduling everything that you do in your diary is a good way to monitor and measure this.

When taking on a new client, go back to your value system and your ‘why’ for doing what you do. Does this client tick all those boxes? If not, refer them to someone else. Taking on every single client because you feel desperate is a recipe for future problems.

Networking

Face to face networking is one of the most important ways to market your business and your personal brand. I learnt about this through social networking. Networking was completely new to me before I started my business. I’d heard about it but never felt that it was for me. Perhaps it was because I was working in a 9 to 5 job.

Networking is like the backbone of marketing because word of mouth builds businesses and when people know, like and trust you, it is easier for them to do business with you and to refer you to their clients and people they know. Social networking online, goes hand in hand with networking because it gives you the opportunity to keep in touch with people regularly and easily and is a much cheaper option.

The only person who restricts your business is yourself and your own fears.

Take a leap of faith occasionally by networking strategically online and face to face.

If you are an introvert or someone who worries about communicating effectively, you may consider joint venturing with a good sales person to be the face of your business, or you will have to brush up and learn some excellent communication skills. But be aware that you will still have to represent yourself to your clients by virtue of what you do irrespective of your sales personnel. Your team will need to understand and know exactly what you do and what your vision is so that they represent your business in an excellent light.

Limiting Beliefs and Thoughts

The biggest lesson I’ve learnt by far is that we limit ourselves by our thoughts and our beliefs. We sometimes feel inadequate and unable to do the work because we think everyone else is so much better than we are because they know how to talk the talk. I discovered that a lot of people in my field are very good at selling and marketing themselves and end up managing very big accounts as a result, but when it comes down to the nitty gritty and I interact with them, I discover that my knowledge far surpasses theirs. Often, I will be approached with questions about how to do something more efficiently and effectively.

See the Opportunites Everywhere

The upside of managing a limiting belief and thought is that it can create ample opportunities to joint venture with people in your field who are better at leveraging their marketing and or sales skills. By stepping back and realising that the monkey mind chatter is a deterrent and by saying ‘stop that now,’ or ‘I’m in the process of acquiring an amazing online client,’ you start to question your thoughts and focus on your strengths more.

An opportunity is created by you leveraging your ‘far surpassed knowledge,’ where your peers can continue to shine and command the successful accounts and you can become a partner in managing and obtaining such accounts in the future. So everyone wins, especially when the client is happy with the outcome.

I hope this was helpful to you and I look forward to some feedback and please share this article on Facebook, Twitter, GPLus or LinkedIn.

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Romany Thresher

Online Presence Brand Strategist
Romany Thresher is a strategic thinker and natural connector with a talent for identifying opportunities for your business or venture. Organising, and overseeing your online digital systems and processes for your webinars and virtual events.  Website set up, email communications,  social media marketing and set up registration and feedback processes.  Ensuring that you collect the necessary information to help you obtain a better understanding of your customer’s expectations. Romany adds value to your business always being on the lookout for new opportunities to connect like-minded individuals who can add value to each other for a mutual benefit. Assisting you in online networking, lead generation, and giving you ideas and strategies to develop relationships with key stakeholders, sponsors, partners, and suppliers in your industry.  Working in the background so you don’t have to.  What do you need to implement and upgrade in your life and in your business and who do you need to align yourself with so that you and those you work with and collaborate with can make a positive impact in your collective environments and communities?  Let’s find out!

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4 responses to “Committing Business Suicide – Part 2”

  1. Denise Avatar

    Thank you for your honesty, I really appreciated your post(s). I think most of us can relate in some way to the feelings/experiences that you have had! All the best x

    1. Romany Thresher Avatar

      Hi Denise
      Thank you for your encouraging feedback and thank you for taking the time to post your comment. I am glad you appreciated my posts.

  2. Evesays Avatar
    Evesays

    Excellent advice. One never knows really when someone is genuine and will help you in return, or just using you to get FREE services.

  3. […] Read my next blog on how I almost committed business suicide […]