As an Entrepreneur, Why Do You Think Other Business Owners Don't Support Your Business? Part I
- Dr. Dawn
- Apr 5, 2020
- 5 min read
Updated: Mar 12
People in general, and solo-entrepreneurs specifically, lament that they have no support. They have no one to talk to, people will not buy their product/service, other business owners won't support them, or even like or share their social media pages or website with others. Some business owners report insufficient financial support or insufficient clients interested in buying products or services. I became curious about "what is the reason for this belief—true or not?" What is causing small business owners to feel this way? So, I took a survey. Here is what I found out. Out of 187 small business owners/entrepreneurs who responded, they believed that:
other people are only interested in helping/supporting if they benefit (41%),
no one cares (24%),
people are afraid of what others think or will say if they help (19%), and
people fear what they don't know (16%)
My survey also identified that most people (42%) will not ask for help because they don't believe they will get the support they need, or don't know where or how to get support (44%). This is one of the reasons why having a coach, advisory board, and/or mentor is so valuable. Sometimes, having an objective person walk you through your beliefs and what is actual can make the difference between being stuck and progressing forward.
NOTE: Use caution when interpreting the data since we can't generalize. I am sure we need more people and tests to confirm how likely it is that people are not getting support or that the underlying reasons are an accurate reflection of reality. Plus, this was a "self-report." Therefore, this is what people believe or feel, not necessarily what is really going on. But, with that said, the data can still give us some insight.
HUMAN BEHAVIOR IS TRICKY!
Human behavior, particularly consumer behavior, is tricky. There are many reasons why people may or may not support your business (or help you on a personal level). I understand that people (generally speaking) are motivated by fulfilling needs. They want to know how buying a product or service will help them. How will sharing your website/URL or social media page directly benefit you? Also, people trust what they know. If you are a new business, people do not yet have a relationship with you. So, some people may be unable to care for something they do not know about. And, yes, people are afraid of appearances---what it may look like, if you are a fraud, or you don't have a good product or service, and they support you. Therefore, it does make sense why those who responded answered as they did. This is not the whole story, however. I will address this topic in Part II of this blog.
WHAT CAN YOU DO?
Again, there are many reasons why people will or won't support your business (or you personally). But, you can't control other people's reasons. Your first action is to see what you can do differently to be persuasive or attract positive attention to your business so that people move their attention to your brand. It may help to start by understanding what is in the way and what you are doing to create the desired results. For instance, are you building trust? Do you have a product or service that your CREAM or ideal clients need, want, or can solve their problems? How many people know about you? What do people know about your brand, product and/or service? These questions can help guide you and help identify how to reach prospective clients. There are also a few strategies you can implement. For example:
Create a strategy for building trust, both online and offline. Remember, this will take time. Be consistent and persistent with your brand, and ensure you implement high-touch marketing approaches to help people get to know you and what you do.
Develop a CREAM client profile to identify your ideal clients and determine whether you are reaching them appropriately.
Master Your Niche First. Think of McDonald's – they're known for burgers and fries, even though they sell everything from breakfast to salads. Their success comes from mastering their core offering before expanding. Your coaching business should follow the same principle: establish expertise in your signature service, build trust through that expertise, then thoughtfully expand while staying true to your central theme. Every service you offer should connect to your core mission, like how McDonald's expansions tie back to fast food. If something doesn't align with your central theme, it's time to reassess.
Identify resources of support. There are people you can talk to. You can hire a coach (such as myself) or find a trusted mentor to help you fine-tune your niche, identify your CREAM client profile, and to help you implement a strong support system. You can also institute an advisory board. Your board should consist of subject matter experts and people who can give you objective, evidence-based guidance.
Ask people what they think. There are thousands of online social media groups. Ask people their opinions about your brand, product, or services. Give a gift card or some reward to increase interest in helping you understand how your business is being perceived.
In addition, the answer to the problems in the survey responses I mentioned earlier is within the reactions:
If people only support if they see a benefit, show them the benefits of helping you.
If no one cares, show them why they should care — let them see what you provide is worth caring about.
If they are afraid of what others may think about supporting you, give them good reason to think positively, build trust, and offer quality products and services.
If people don't know you, create strategies so that they can get to know your brand.
Finally, remember that just because you love your business and think it's great, does not mean your CREAM clients feel the same. Solo entrepreneurs go into business because they are passionate about something (e.g., wanting to help others, believing they have the answer to a problem, etc.). Still, they also need to make a profit. People must see your business is profitable and worth investing in or supporting. Therefore, what you offer is not about what you like. Your liking your business keeps YOU motivated to operate it. However, the results are more about your target client's likes and wants. Your job as a business owner is to ensure your product or service fulfills what people want, expect, and/or how you will solve a problem. You must do this with the focus of quality and building trust in your brand.
Part II of this article focuses on what you can do as a supporter of another person's business. Be sure to read it as a companion to this article.
Dr. Dawn Reid, PCC, is a personal and professional growth architect who transforms aspiring coaches and leaders through evidence-based, culturally and socially responsive coaching. Using her proprietary PARA™ methodology, and Jasiri Kweli coaching approach, she guides clients to achieve work-life-self harmony, reduce imposter syndrome, and build confidence. As a trusted ICF-accredited coach educator with a 90% credentialing success rate, Dr. Dawn empowers individual transformation and professional coaching excellence. Ready to elevate your purpose? Visit: www.drdawnreid.com
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