I’ve worked with dozens of entrepreneurs over the years and there are three things that everyone who is starting their own business needs to know: 1) When to Say NO diplomatically, 2) How to deliver bad news, and 3) How to set a boundary with a client, and enforce it.
One of the biggest concerns for most new entrepreneurs is landing clients. Whoever walks in the door, or reaches out virtually with online sales, in those first few months looks like a lifeline to a drowning man. The temptation for the new entrepreneur is to say and or agree to anything to land the client – this is a tremendous mistake.
Entrepreneurs start their own company because they want to be their own bosses, and then immediately find out that they now have a gazillion bosses – the customer. Each customer is different and demanding in their own way. Each is annoying and unreasonable in their own fashion and the tentative new entrepreneur wants to please all of them in every way. Forget that. You will never please all of them, and there are some you can never please no matter what you do.
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The lesson that every new business owner must learn is when to say no. It’s different for every business – but there are some guideposts. 1) never cut your price below cost on an item, unless you’re making up for it with another, 2) Don’t give in to unrealistic demands – they will only come back to haunt you, and 3) Don’t be afraid to lose this customer by saying No, you will find the right customer by sticking to your instincts.
No one like delivering bad news – but it will have to be done as sure as the sun rises in the East and sets in the West.
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No one like delivering bad news – but it will have to be done as sure as the sun rises in the East and sets in the West. When it must be done, do it quickly, directly and as tactfully as possible without being rude. There is nothing to be gained by beating around the bush, just find the least offensive words, blurt it out, and deal with the fallout. Most people understand that plans change, the unexpected happens and for most of us – it’s not REALLY a life or death situation.
I’m in the service business – I coach clients, and they like to be able to call at all hours of the day and night. Rarely will I allow this. They can call, and leave a message, and I’ll pick it up. If it’s after hours or on a weekend, and it’s truly an emergency (almost NEVER!) I’ll respond and help them, BUT they know they are going to get billed triple time because that’s what in our client contracts. My time is valuable, and I set a boundary with my clients. If they really need me on the weekends or after hours – I’m there for them. But the boundary is that most of the time, my weekend is mine. They way to set a boundary and to enforce is by having it in the contract – you need to have a written contract that spells out in excruciating detail what you are expected to do, and what they are expected to do. That’s good boundary setting and it will save your life as an entrepreneur.
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