Why Is Confidence a Must for Owners to Grow Their Businesses?

January 31, 2020 0 Comments
confidence business owners

Last week, we spoke about letting the customer guide your business and your marketing. This week, we continue our discussion about a marketing mindset for business owners. Our topic today will cover confidence for business owners.

Let’s dig in:

When you’re a new business owner and a small business owner at that, you may initially feel hesitant to market yourself. But as you gain more experience, and feel more secure with your position in the field, you begin to stand tall and talk to people with a relaxed smile. You approach any subject, even those that you know little knowledge of, with more ease, and feel secure in admitting you don’t know it all. Your stance feels more relaxed, and you move in and out of the crowd without stepping on anyone’s toes, literally and figuratively.

 

Reasons Why Confidence is Necessary for Business Owners

After some experience as a business owner, you have your networking in place to help build confidence and connections. Grit and determination has got you this far, but most of all, you have the key: experience. Experience leads to more confidence.

And this aura of confidence can grow your business even more.

Here are some reasons:

1. Having confidence in yourself will secure your brand.

The more secure you are of your identity, and more in touch with what you can offer your clients, the better posture you have. Your customers will trust and believe what you say. When you gain their confidence, they will listen to your recommendations.

Having a strong sense of work ethic will boost this confidence.

You know:

  • who you are and what you can offer
  • your strengths, skills, knowledge, and limitations
  • when to say ‘no’ and when to refer your client to someone else.

This is what separates a marketer from a salesman. You’re not just there to sell a product or service. You’re there to help your clients and meet their needs. Self-awareness is the key.

 

2. Having confidence in your product or services will secure your credibility.

When you know the quality of your product and believe in it, you can easily highlight the advantages and benefits of your products and services to your clients. Even when you may not be the most confident person in the world, when you have faith in what you’re offering to your customers, it will show in your zeal and enthusiasm. Your testimony alone can sway a person to purchase your product or service.

On the other hand, when you know that you’re selling subpar standard products, it would show in your mannerisms. You won’t be able to make eye contact. Your tone will be more defensive. You are prone to making excuses. You’ll find it hard to connect with your customers because deep inside, you’re not convinced about what you’re promoting. You’ll exude an aura of evasiveness and a hurried attitude. Your credibility dims.

 

3. Having confidence in the market will boost your creativity and drive

According to the Quarterly MetLife & the U.S. Chamber of Commerce Small Business Index from the last quarter of 2019, a vast number of small business owners reported confidence, especially in the technology market.

Do you feel confident about the market?

Do you share in the small business optimism?

Such confidence in local economies can drive your hiring plans.

“Through this quarter, small business optimism has continued to grow,” according to Tom Sullivan, vice president of small business policy at the U.S. Chamber of Commerce. He noted that the small businesses ran by millennials, and minorities were increasing their staff even in challenging circumstances.

Do you have the same drive to grow your business?

Have you advanced with the technological innovations available in your market?

 

Casey Stanley, Vice President of Ontario Systems and a U.S. Chamber Small Business Council Member, believes that for businesses to thrive in a competitive market, they should invest in technology, no matter what type of product or service they provide.

 

Invest in Marketing This Year – Especially Digital

Digital marketing is a technologically-driven investment you may want to put your money on in 2020. It is economically efficient, has a broad reach of audience, can be automated, reproduced, and repurposed, and has become a growing trend in the marketing industry.

With digital marketing, you can:

  • analyze your performance
  • track your growth regularly using data analytics
  • engage your customers in a personal way

There are many creative ways to ride this marketing wave.

With digital marketing, you have access to your audience and vice versa through a website, product or service reviews, and social media.

Social media alone can give you numerous platforms to reach out to your customers, educate them, and gain their trust and confidence. Most influencers gain confidence as they become more visible on LinkedIn and YouTube and increase their following. With confidence comes the authority to speak in your given niche. Authority and confidence would then complement each other.

A confident business owner survives and thrives whether the economy is in good health or bad. When others are cutting down on cost and laying people off, confident business owners have plans to grow their staff. The reason behind this positive outlook is the confidence level that comes with skills, knowledge, and experience. No matter the business conditions, their confidence gives them a healthy perspective in life because they know that the quality of their products meets the needs of the customers in any given market and stands the test of time.

For information about how much money to account for your marketing budget this year, watch this helpful video.

And stay tuned next week as we continue discussing business owners and the right marketing mindset!

Leave the Marketing to Us

Not sure how to navigate all the details of a solid digital marketing plan? We can help! Schedule a free business review here to find out how we help. You can use these insights for a positive mindset, and let us do the marketing for you.

References:

prnewswire.com

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Article Name
Why Is Confidence a Must for Owners to Grow Their Businesses?
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To run a business, you need money, time, and determination. But there are other aspects too, including how confidence affects business owners and marketing.
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