Why Having Unconditional Love Can Be Potentially Dangerous For Your Business!
Entrepreneur are you really passionate about your business, product or service? And would you go as far to say that you have unconditional love for your business?
Careful, because it’s this unconditional love approach than can and does often lead to trouble.(And in some extreme cases bankruptcy!)
For instance; some entrepreneurs/small business owners are such zealots about what they do, that they actually lose sight of “what” their ultimate goal really is!
Which of course is to maximize profits, while serving their valued customer/client base in the process.
Of course right now, you find that hard to believe! But hang on for just a second, and you’ll get concrete proof that this is indeed the case. And far more often than not. Of course you need passion to help fuel the long term vision of your business.
But if you’re not careful and or strategic in your approach, it’s that very same single minded focus, that can and will cost you a ton of long term potential profit!
How And Why Unconditional Love Can Be Potentially Dangerous To The Long Term Profit Potential Of Your Business!
Okay, let’s cut to the chase and address your healthy skepticism about how incredibly powerful unconditional love (and or) passion if you prefer, can be potentially dangerous to the long term health and profitability of your business.
Here’s the first ex: a while back during a live webinar being hosted by a very successful full time Internet marketer, that just also happens to be one of my coaches! As she was doing a rather intense and in depth critique of my blog, (basically pulling no punches!) she mentioned “how” very annoying that my popup opt in box was!
And “how” even though they were rumored to be effective, she had no use for them, and simply refused to use them! Okay, well unbeknownst to her, my popup opt in box actually out performs (both) my inline opt in box and opt in box at the bottom of each blog post by at least 500%! (Seriously!) The numbers back that statement up!
So there is simply no way, that I’m going to discontinue using it! But my main point is this, far too many times I’ve witnessed that exact same mindset by other would be serious entrepreneurs.(Both on and offline.)
Meaning; they will avoid doing and or applying a strategy and or tactic that’s proven to work, simply because they (personally) don’t like it or because it’s not as convenient as something else!Huh? Even if what they’re currently doing isn’t profitable! That’s the unconditional love part that’s being referred to here!
Case in point: lots of times you come across struggling (really) small local retailers. And when you do (what) yours truly likes to refer to as a (floor walk) pre -inventory cash flow analysis.
Here’s “what” you often discover. The entrepreneur, which usually has owned the struggling business for several years. They’ll often have at least two items on their floor space with two distinct (and easily measurable) gross profits margins.
1.) Item # one: Item number one is (typically) some item that the entrepreneur has sold for many years! And it may even be something that they personally created and or a spouse or significant other or other family member created etc.
2.) Item # two: And item # two is something that they’ve recently started selling successfully. So here’s the dilemma; item # one while extremely close to the owner/s heart, it only has a gross profit margin of 13%. At best!
And item # two, (amazingly) has a gross profit margin of 37%! Or more! But here’s the rub!
[cpm-player skin=”classic-skin” width=”100%” playlist=”true” type=”audio”] [cpm-item file=”https://www.youcanmarketonlinenow.com/wp-content/uploads/2014/10/How-to-build-your-very-own-profitable-marketing-funnel-for-literally-pennies-on-the-dollar.mp3″]How to build your very own profitable marketing funnel for literally pennies on the dollar[/cpm-item] [/cpm-player]
The entrepreneur for some odd reason allows the item with the gross profit margin of just 13% to take up (more like) monopolize a staggering 60% of the available floor space!Huh?
While limiting the far better selling item # two, to just 20% (or less) of the available floor space! You see what I’m saying about being blinded by this (potentially destructive) unconditional love approach to their business!
And far more times than not, as you try (usually in vain) initially anyway, to point out “how” their extreme misuse of their limited floor space is in fact costing them money! (And potentially lots of it.)
They initially try and rationalize their decisions! Some of them come around, while others clearly don’t! And you know “what” they say about leading the horse to water, right?
Be Or Remain As Passionate As You Possibly Can! (Just Don’t Let Your Passion Out Weight Your Long Term Good Judgement!)
Well, in any event, hopefully you can see and better appreciate how, in some instances, unconditional love, can be potentially destructive to your long term profit generating potential! Don’t you agree?
Please share your much valued comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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