Do you ever get people responding to you with smiles and nods? We get this response a lot. Especially from small business owners. They will often smile and nod when different business topics are brought up. We learned years ago that the smile and nod is often code for “I have no idea what you’re talking about and I hope you don’t ask me to explain myself.”
At the end of the day, we all have a mess in our businesses and our lives. The question becomes who do we share what parts of that mess with when it comes to our business. As the owner of a small business it’s likely you will go months or years without having to Present yourself or share your story.
Some days it’s easier to stay positive than others. For instance, those days when you land a big new customer or finally bring on board that key new hire. But there are other days when it’s really tough to keep that positive outlook. Simply flip the scenarios mentioned before where instead of landing a big new customer you instead lose a customer that makes up 25% of your business. Or that key employee gives you two weeks notice.
If you’re in the business of meeting a lot of new people during the course of the week, month, or year, one of your keys to success will be to effectively share your story. What do we mean by sharing your story? It’s providing the person you’re speaking with the relevant points about your background that relate to them. You have to decide which parts of your experience you want to share. And how much of your story to share.
At some point during your business life cycle, either you or someone else will ask you this question, “What’s my business worth?” The quick answer is it depends! It depends on a lot of factors. Some of these factors are things you can control while others are out of your control. For instance, you have some control over how you set your selling prices and control your costs, but you can’t control the overall industry growth or how your competitors act.