What would be your reaction if an individual just starting up, or in the difficult early stages of running, his/her business (e.g a book writing and publishing support service) approached you, asking you to consider purchasing part-ownership in it? Would you look objectively at his/her ability, the market potential of his (hopefully) unique offering and other relevant details, in taking a decision?
In other words – if it was there – would you be willing to see an opportunity for a potentially rewarding/mutually beneficial relationship?
Or are you likely to conclude s/he is just someone you can feel sorry for, and help out with say, some money? This article can help prospective investors or clients/customers – especially those in developing societies.
How?
By making them understand why a TRUE entrepreneur will PREFER to request a fair and impartial opportunity to deliver a solution to you, for a fee, you’re WILLING to pay.
It also offers experience based ideas for entrepreneurs who may be plagued with self-doubt arising from poor responses from prospective clients/customers and investors.
True entrepreneurs prefer to EARN what they make through honest and intelligent effort, and typically abhor offers of “handouts” or favours.
Many people in developed societies have enough around them to help them understand that entrepreneuring can be prestigious, and investing in, or patronising an entrepreneur can be quite rewarding.
The fact is that the clients/customers or investors who have to consider what a first-time startup entrepreneur has to offer them, may NOT have the benefit of access to his/her business track record.
That’s because it would be his/her FIRST time. And so there may be no family pedigree or “sensible” ideas to help them make up their minds about the potential benefits of buying from him.
They will therefore have to take something of a “leap of faith” in starting a relationship with him/her.
They would have to carefully evaluate all that s/he is offering them as investors or prospective clients/customers. Then they would use that to decide whether or not the total picture they can see, and the potential rewards promised can justify the monetary or other commitment s/he asks for.
They would, in essence, have to demonstrate a belief in his/her ability to deliver what s/he promises.
The above is actually why this article was NOT written primarily for persons who live/work in DEVELOPED societies.
In advanced societies people have been doing it for decades. Many successful enterprises exist out there today, because investors and customers put their faith – and hard earned money – in an individual who had little or nothing more than an idea, when starting up.
This article has instead been written mainly for the benefit of persons in DEVELOPING societies.
Startup entrepreneurs who also have little or nothing more than an “idea” may approach them to consider investing in or purchasing a product or service.
Specifically, I draw from over four years of experience as an entrepreneur in a developing country – Nigeria. There, in my opinion, there is a generally poor understanding of what the relationship between entrepreneurs and their prospective clients/customers or investors ought to be. Many African nations also share similar traits, incidentally.
The Situation/Problem
1. Quite often the entrepreneur is NOT seen as a provider of valuable – possibly badly – needed solutions to the clients’ NEEDS.
Instead s/he tends to be seen as the unfortunate individual who made the mistake of thinking s/he could earn a decent living outside the security of paid employment…or without access to the right connections.
Those s/he approaches via marketing consequently adopt a position of superiority over him/her – feeling s/he needs them more than they need him/her!
2. As a result of 1. above, many supposed entrepreneurs – out of desperation – agree to sometimes outrageous proposals
This often happens when they deal with greedy, and corrupt individuals in prospective client companies. In some cases, they get the job that way, but earn little in terms of profit, since they share what is paid them with those who influence/approve it.
In no time at all they are back begging for another opportunity.
That certainly conflicts with the Be Your Own Boss concept that starting one’s own business is about doesn’t it?
Who Loses Out/Suffers In The Long Run?
The entrepreneur of course – IF s/he gives in. S/he will lose her dignity and status before clients.
If s/he gets used to it(as has happened to many) s/he’ll probably decide to secure more “easy” jobs and become lazy from getting mostly un-earned income.
Some people have accused me of exaggerating the problem. Others say I want too much change in too short a time.
The truth however is that I see very little effort being made by very few people to do anything about it. Yet, evidence of its presence and ill-effects daily torment hardworking, competent and honest people.
I CANNOT keep quiet in the face of all that. If it is all I can do, I will create awareness about it, and propose workable solutions for the sake of others – including my own children.
Note: This problem occurs in some developed societies. But that – going by the obvious prestige associated with entrepreneuring in many of them – if often the exception, NOT the norm, as tends to be the case out here.
Of course, not everyone here is guilty of doing the naughty things mentioned above either. But majority are…and a large number of those who are not, are often afraid to say or do anything about it.
Don’t Compromise Your Values Or Be Subservient To ANYONE!
“You don’t need anyone’s permission to succeed” – Dan Kennedy
To the entrepreneur, I will make this challenge.
Accepting shabby treatment from clients will not make you gain stature before them.
If anything, you will lower your credibility and worth in their eyes, and those of others who observe your subservience. If you find any client trying to treat you shabbily, you may want to seriously consider walking away from that relationship, as it could end up doing you more harm than good.
Think about it this way: What are the chances of a guy who keeps putting you down, delaying your payments and trying to get you to do more for less – or nothing! – giving you any word-of-mouth referrals/testimonials that result in PROFITABLE jobs?
Read Donna Gunter’s article titled “7 Signs That It’s Time to Fire a Client” () to learn more about why you may need to “fire” a naughty client(s).
Also, I strongly believe it is better to spend your time doing things that IMPROVE your ability to win profitable clients, than to allow abusive clients repeatedly underpay and exploit you!
But then, not everyone has the courage to risk prolonged humiliation that may(initially) come with taking this kind of stance – and the following quote predicts their fate:
“Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them.” – Frederick Douglass
There is a solution – BUT only for those who are willing to pay the price. .
The solution I propose, is for an entrepeneur confronted with the problem(s) described in this article to:
(a). develop additional income earning competencies
(b). explore opportunities for earning income through channels that do NOT allow third parties influence the decision making process. At least not without s/he being given a fair and impartial opportunity to bid.
S/he can do this while continuing to explore the available openings for a fair and impartial opportunity to bid for business.
Countries like India have shown that it can be done e.g. self-employed persons providing digital services(freelance writing, software development, help desks etc) via the Internet.
My achievements as an online provider of high profile products and services, for years now, also confirm persons in Africa, CAN do it as well!
Of course, not everyone will find this a suitable alternative. Though I dare say that now, and in the future, virtually anyone who is serious about earning income with less effort will need to give this alternative MORE serious consideration!
For now, I guess the question will have to be whether those who need this alternative, will be prepared to make the requird long term commitment, to bring their dreams to reality.
Incidentally, success in doing a. or b. above – apart from making him/her more versatile – would further boost the entrepreneur’s sales leads generation!
Read my articles listed below, which discuss the many possibilities, based on my experiences doing it in the real world for over a decade now:
a. “How To Be A Jack Of Many Trades, And Why It Can Make You Succeed More Often”
b. “More Real-Life Proof That Being A Jack Of Many Trades Can Make You Succeed More Often”
c. “If You Lack Capital, Intelligent Multipreneuring Can Help You Get It!“.
Hopefully, from reading this article, if you ever need to buy from – or invest in – and an entrepreneur, you won’t make the mistakes highlighted above.
Except s/he is NOT an authentic, vision-driven entrepreneur, it is highly unlikely s/he will want you to feel pity – or give him/her some handouts.
Especially when you are willing to buy (invest in) the product/service(or returns) s/he claims to be capable of delivering!
If you have read this as an entrepreneur(or one aspiring), I will ask you this question:
How will you deal with the possible lack of interest or patronage from your target audience?
Will you compromise and settle for a one-sided relationship in which people feel they are just doing you a favour by doing business with you?
Or will you work hard to adopt the alternative solution along the lines of that provided above so as to command profitable earnings, credibility and recognition in your line of business?
In my case, when I wrote this article over 8 years ago, I had already made my decision. And you’re reading this artcile, on this blog, today, because it worked for me. Today, I enjoy the consideration and respect of clienrts from diffeent countries, who find me on their own and request my products/services.
As a rule I DO NOT chase clients. Instead I take diligent daily actions – mostly online (and some offline) – that make them come to me.
And they keep coming to me. By phone, email, Skype, Facebook, Youtube, Google+ and even Twitter!
99% of the time they are total strangers. They do not know me, and I do not know them. And yet by the time we’re done conversing, 60%of the time, they go on to send me funds via various agreed channels.
This past week, it has happened three times. In fact I have to travel to Nigeria to meet one of such CEOs soon.
If you want to achieve similar results to mine, you’ll need to learn to do what I do. But first you MUST decide that you are ready to adopt a new approach that will help you command the respect of prospects and clients.
And that you will stick with it, no matter how bleak things look.
If you’re ready to do that, then I can help you. Click here to get in touch with me.