Are you spending too much time worrying about the unknown?
One of the number one fears that business owners talk to me about is the fear of the unknown. They’re things that aren’t even happening right now in the business, but just the possibility of them happening fills them with fear.
What if they lose their best salesperson?
What are they going to do if they lose an important client and can’t make payroll?
What if something happens economically and it puts their business at risk?
Listen, it’s normal to worry about things, and it’s normal to think about all of the terrible things that could happen under certain circumstances, but unless you’re using that energy to grow your business so that if and when bad things happen, you’re protecting yourself from the worst case scenario, then you’re just wasting your precious time and energy.
Turn your worrying energy into productive action
Let’s take those three hypothetical scenarios I listed above and transform them from an energy sucking worry into productive action for your business.
A huge piece of this puzzle is your mindset — it’s your perspective on the situation.
What if I lose my best salesperson?
Instead of worrying about what might happen if you were to lose your best salesperson, you should be working with them to document every step of their process — including shadowing sales calls, creating call scripts, and developing email templates — so that every person on your sales team can be trained on these techniques.
Don’t just assume that this person has some sort of unique magic key to sales that no one else could replicate. If they produce results, then figure out how they produce those results, and create a system to replicate them.
Now, instead of worrying about them leaving, you have an entire salesforce who can perform just like them!
Let’s look at the second example.
What am I going to do if I lose an important client and can’t make payroll?
There are a few ways you should look at this fear. One, if this is a concern of yours, is there something that you fear is broken in the relationship?
In other words, are you just being paranoid, or is there something in the partnership that you have the opportunity to fix? If it’s the latter, then you need to evaluate how successful you and your team have been at delivering the products or services you’ve promised them.
Are you really overdelivering the value that they deserve? Are your systems dialed in to the point where they simply would be worse off without you?
Two, and this is probably where your head is truly at, is that you’re worried that you’re overleveraged in this relationship. And here’s the thing: You probably are.
If losing one customer is going to break your business, then you’re simply not diversified enough. That’s the bad news.
But here’s the good news: Your business was able to bring on this important relationship, and instead of looking at it as a fluke or as though it’s some sort of unicorn, your goal should be to bring on more customers of this size and caliber in order to diversify your income.
Create lead generation campaigns targeted on these types of customers. Publish dedicated pages on your website devoted entirely to how you provide value-rich services to premier-level customers. Assuming that your relationship is strong, ask this particular business for referrals, testimonials, and permission to use their brand in your marketing to create more relationships.
Now, instead of worrying about this relationship leaving, you have the opportunity to grow your book of business because of this relationship. Like attracts like. Once other brands catch wind that your business serves their business, they’ll be more eager to jump on board.
What if something happens to the economy and it imperils my business?
While you can’t predict the future, you can be certain that the economy will have its ups and downs. The politics don’t really matter. Some level of instability in the long term is inevitable.
So, instead of dwelling on something bad happening, you should be working on recession-proofing your business.
Some of our clients had their best-ever financial performances in the midst of the pandemic, and it’s because they didn’t panic, they adapted.
Having cash in the bank is vital to your adaptability. You should always have reserves set aside in case of an emergency. While this does provide you flexibility, it isn’t everything.
You also need to remain calm, and maintain a solid sense of leadership in moments of crisis. This is for your team and for your customers. In emergency situations, people are looking for guidance.
Fill that space with good information. Lean on your most trusted team members and mentors to determine how you can adapt your services or even jump into new categories. The point is, there are always opportunities in every situation, no matter how dire it might seem.
If you can remain calm and focused in those situations, your team will stick by you, your customers will stick by you, and you’ll often even create new ones because of your approach.
So now, instead of worrying about economic shifts harming your business, you’re seeing how your business can adapt and grow with an ever-shifting economy.
Interested in learning more about how you can create the sort of life and business that most people can’t even imagine? I’m inviting you to join me and the Cardone Ventures team at our next live event.
You’ve never experienced anything like this before, I can guarantee it. These events have the power to truly change your business and your life, so I would urge you to register now before it’s too late. See you there!