We've all heard the same old saying. The whole "nice guys finish last" proverb has been a timeless classic for those who seem to lack assertiveness or who tend to be taken advantage of. But does that phrase actually have some merit to it? I believe that there is plenty of historical evidence that being too nice is a surefire way to get left behind or trampled on. But do we really want to live in a world in which everyone is ruled by jerks? I should hope your answer was a resounding no on that one, but there is still a lesson to be learned from that old saying.
There are many reasons why someone would want to start their own business. In some cases, a person simply sees an opportunity and chooses to act on it. However, there are others who get motivated by challenging the status quo, or by fighting some sort of injustice. However well-intent these people may be, if they decide to open a business they're doomed to fail in mass if they're simply driven and ruled by their emotions. I would like to point out before continuing with this article, that in no way shape or form am I advocating for the new business owners to be ruthless in their endeavors. There is a fine line that can be walked between the two opposing sides of being profitable, and simultaneously socially conscious. Learning the balancing act between these two factors can be instrumental in finding long-term success in your newly formed business.
One of the major issues that most "nice people" make when they try to run their own business is that they have a tendency to attach the feeling of guilt with the concept of corporate profits. I've seen several business owners who started up their own shop and aimed to sell their products or services at an "affordable price" because they wanted their community to have greater opportunities in their options. I fully respect that, but there needs to be a tactical approach for any business owner who's model is based on undercutting the prices of their competitors. Doing so without any thought to operating expenses or unforeseen circumstances will inevitably cause your business model to not be sustainable. When the time comes that you ultimately have to shut down because you couldn't afford to maintain the pace and scale your business properly then all of the people of whom you had hoped to better serve will once again be at the mercy of your competitors. So while trying to be ethical is certainly a wonderful quality to have, you'll still need to develop a business mindset. Which tends to be a little difficult for overly agreeable people to do.
With any type of business, there is a cost of production and a price point for making the sale. For some people, they take a look at executives in an industry and feel disgusted about much money that person makes or how a certain business only seems to care about making profits and keeping their shareholders happy. While this is certainly an understandable point of view, it isn't a practical one. Profits are an important part of being able to maintain almost any kind of business that exists, and the idea of making money shouldn't be frowned upon. The simple fact is that we all need money to live, and this truth holds itself to be even more severe as a business continues to expand.
Now you may have read all of that and gotten the impression that the only way to succeed in business is to overcharge your customers and turn yourself into just another money-hungry corporate exec. This is far from the case. If you're someone who believes they fall into the category of being a "nice" person then you should just try to stay aware of your innate tendencies that come with what makes you who you are. There is a perfectly sustainable path that you can take which balances meeting the needs of your target audience without charging them an arm and a leg, all the while keeping your business model in good form. These are actually the same set of tactics that we use at Budd Consolidated. Obviously, we want to maintain our profits, but we also strive to ensure that the extremely useful information contained in our online courses remains accessible to any new entrepreneur. Budd Consolidated was founded so that new entrepreneurs and small business owners could have a better shot at long-term success. For this reason we also offer several options for direct services related to business development such as building business plans, designing websites, personal training or coaching, and even team training for the leaders in your business.
Our mission is to make our living by helping you make yours. So if you're a well meaning entrepreneur and would like some strategic coaching on how to better sustain your business click the button below to book your first free session with a business development coach from Budd Consolidated today, or check out our website www.buddconsolidated.com to learn more about all we have to offer!
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