Fear-Based Decisions Are Bad for Business
At
one point, every business owner will find herself in a troubling situation.
Revenue is down. New clients are scarce. Profits are falling, and a peek at the
financials is enough to bring on a full-fledged anxiety attack.
Unless
you’re Mark Zuckerberg or Bill Gates, chances are you’ve experienced that
sinking feeling of a business that’s trending downward, too. But how you handle
it can mean the difference between continued success and business-killing
burnout.
Here’s
where a lot of coaches get it wrong. They start to worry about money, and that
worry leads to poor decisions that ultimately have a negative impact not just
on finances, but—maybe more importantly—on morale, too. Maybe you know what I’m
talking about.
You Take On The Wrong
Client
When
business is down, it can be tough to keep your ideal client avatar in mind.
Instead, you jump at the chance to work with anyone who comes along. The
trouble with this scenario is you can find yourself with a roster full of
clients who:
·
Aren’t willing or able to do the work required
·
Spend all their time telling you why your ideas and advice won’t work
·
Drain your energy and make you dread your office
You Stop Creating
And
who can blame you? With profits down, you have to pull back. You can’t afford
to spend time and money creating new programs, so you recycle the ones you’ve
already produced.
Now,
this would be ideal if you were repurposing with a positive intent. Turning
your ebook into a group coaching course? Perfect! But that’s not what your
fearful brain is telling you.
Your
fearful self is saying, “Just re-release this same product again, so I don’t
have to have new sales copy written or record new videos.”
And
while this might help bring in a bit of cash short-term, it won’t do anything
for your reputation or your self-esteem.
Yikes!
That’s no way to operate a business, but that’s just what a fear-based mindset
can do to you. Better (much better) to hold out for that perfect client. And
while you’re waiting, take what you’ve learned from your drop in sales and
create the killer program your audience is clamoring for!
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