Should Everyone Be an Entrepreneur?

I worked a 15-hour day the other day with almost non-stop meetings, phone-calls, and regular laptop/smartphone detailed work from 9 am until midnight. Even when attempting to eat or try to catch my breath for a minute, I’d be interrupted. Now, I’ll admit that is pretty exceptional rather than the rule for me right now. I usually work normal 7-10 hours.

However, I had a realization that the busier my business gets, the more days like that I’m going to have.

The good news?

I LOVE it. ❤️ 😃

Sure, it will be necessary to wake up insanely early and require creativity to make time for other things. But, I wouldn’t trade it for anything in the world. Why? Because I value the freedom of determining my own destiny and not answering to a boss over normal hours and a steady paycheck.

If you think you want to be an entrepreneur, understand the trade-offs. You may be happy as an entrepreneur/business owner, but you may be miserable. You may love being employed in a job you love where you feel that your skills and talents are valued, but you’re not responsible for the whole organization or aspects you don’t like. Or, you may prize autonomy over all like I do. It’s up to you. It takes honest thought and self-reflection and trying things to know. Nobody can tell you which is best for you.

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Sell to the Sold: Who am I selling to?

Over the weekend, I had a lively chat with a friend and businessman who is a distributor of snacks, tea, and coffee.

His products are tasty and low-cost and while his sales are decent, he has not done much in the way of branding. Many people consume his goods without being familiar with the name and would purchase similar commodities at a lower price when presented the opportunity.

As he lamented the fact that his brand is basically invisible and he lacks a loyal customer base despite the extensive distribution of his goods, I mentioned that social media and Facebook ads, in particular, could help him grow.

“Ah, remind me of what you do for a living?” he asked sarcastically with a smirk. “Listen, you sell to nerds, but, my customers aren’t on social media.”

While it’s true that his largely Orthodox Jewish customer base is less engaged with social media relative to the wider population and many of the more stringent members of his target audience eschew smartphones, he definitely doesn’t have his finger on the pulse. Living in Brooklyn, I can assure you that a wide swath (the vast majority) of his kosher customer base does use smartphones and social media, particularly Facebook, WhatsApp, and Instagram and they do so with the same gusto as the rest of the population. Not to mention, there are other markets who also enjoy his products, which he could be doing a better job of reaching.

He wasn’t done beating me up. “You understand the virtual business world. In the real business world, people aren’t using this stuff.”

I nodded. “Sure, many businesses get by with minimal social media presence,” I accepted. “But businesses who aren’t building a brand on these platforms will be totally irrelevant in 5-10 years from now and are becoming increasingly irrelevant today.”

“Your sales pitch is terrible,” he mocked.

Ouch. He obviously isn’t able to see the writing on the wall and he doesn’t want to hear the truth.

It’s kind of funny when a business owner acts as if there is a major world of difference between the online business world and the physical one. As if digital marketing is only effective with, as he puts it: “nerds.”

I’ll admit I was surprised to hear this talk from someone under 40 years old. While that line of thinking was understandable in the late 90’s and early 00’s at the dawn of ecommerce or ten years ago when social media was just getting started, it couldn’t be more out of touch with the current times.

Nerds and teens are not the only ones spending an inordinate amount of time using mobile technology. In March of 2017, it was reported that the average US consumer is spending over 5 hours a day on mobile devices.

As I pointed out to him in our brief exchange, people aren’t turning to page 8 to see his ad in a magazine or looking up at billboards or paying attention to TV and radio commercials. Their eyes and ears are glued to one thing — the little smartphone in the palm of their hands. In any other context, say if we weren’t talking about business or marketing, but the state of American youth, he would readily agree.

What kind of world do you think we’re living in? We already live in a virtual world. Thanks to smartphones, the lines between the virtual and the physical are becoming more and more blurry. And, this will only continue as AR, VR, iOT, and audio technology picks up steam. Anyone who is not paying attention to where their customers are increasingly devoting their attention is leaving money on the table and risks getting left behind.

People have options now, which leads to a more divided attention span across multiple devices (laptop, smartphone, tablet, Amazon echo dot, Google Home) and platforms (email, Facebook Messenger, WhatsApp, Alexa, Instagram, review sites, and podcasts) and they can fast-forward or do something else during commercials. The old days of a captive audience willing to hear a pitch from a brand name they do not yet know or trust are gone.

But, I didn’t belabor the point. I was not trying to sell him, because I would never waste my time. I don’t try to sell to people who do not understand or appreciate the value of the service I offer. If the deliverable isn’t something they believe in, and sadly most of corporate America, as well as many small businesses, are still slow to get the memo about the importance of social media marketing, then I don’t waste my breath.

One of the most important rules of sales: Sell to the sold.

Tweet: I don’t sell people on what I do. I sell them on why they should hire me to do it.

It’s counterproductive for me to sell someone on what it is I do. If they are not sold on the service itself, then I can talk until I’m blue in the face, but they will not likely change their mind or, if they do, they won’t stick around for long. However, if they are in the market for social media marketing or content marketing and need the direction of a professional who can help them strategize and execute, now we’re speaking the same language and we can have a conversation. And, it will be a conversation based on mutual respect and understanding, even if it doesn’t lead to a transaction in the short-term. I’ll all for educating the prospect, but I don’t believe in trying to force them to see the value of my industry.

Identify those who would be receptive to the message before you start pitching and don’t waste time on those who don’t even respect what you do for a living. Don’t bother trying to convince them that they need your product or service. First, find out if they have a need or a pain point that you can solve and then respond with your solution. An important part of marketing and communicating with people in general is paying attention to the other party’s needs and responding accordingly.

What are they paying attention to? What do they care about? What are their problems, concerns, or desires?

Listen before you speak.

I think this is one of the most important rules of prospecting and selling.