1740: [Part 2] 3 Hidden Sticking Points That Plague Small Businesses by Michael Mehlberg on Entrepreneurial Focus

[00:00:00] This is Optimal Work Daily. Three Hidden Sticking Points That Plague Small Businesses, Part 2 by Michael Mehlberg of MichaelMehlberg.com. 2. Personal Stress and Burnout We recently polled small business owners and asked the question, what's your single biggest challenge? Of the 75 survey respondents, 52% selected overwhelmed, stressed.

[00:00:25] This validates something that we already know from coaching many small business owners, which is they take on a tremendous amount of responsibility and often carry a hefty burden. This leads to a lot of stress. Being overwhelmed and stressed is an issue that transcends the problem of being too busy and having too much work to do. Overwhelm begins to creep into your personal life and affect your sense of balance. It can impact your relationships and your health.

[00:00:49] When this happens, you can lose your motivation and positive outlook on the business. You begin to question if it's all worth it. Within your company, your colleagues and employees will notice that you're burning out and they will feel the negative stress too. It puts your entire business at risk. Small business owners become stuck with stress because they don't see a way out. They'll often say that they can't afford to get help.

[00:01:11] However, in many cases, the truth is that they can't afford not to get help. It's usually not a lack of resources that is holding them back. Instead, it's an unwillingness to give up control. They simply don't trust others to work with the same level of quality and proficiency as themselves. They can't envision anyone else being able to do things the way they do.

[00:01:32] This is a limiting mindset that draws a box around what you and your business can accomplish. It also fuels the cycle of stress since the business owner is continuously taking on too much responsibility. We recently spoke with small business consultant Brian Roberts about this issue in our post, Two Key Things Small Business Owners Need to Do to Thrive.

[00:01:54] When we asked Brian to discuss what holds small businesses back and prevents them from getting to the next level, he identified trust and delegation as two critical points. When trust is absent, a business owner will hide his or her stress from partners and colleagues. They may also rush to judgment on what others are capable of and be unwilling to provide honest feedback. When it comes to delegation, they fear giving others the freedom to handle tasks in new and different ways. How to get unstuck

[00:02:24] If you're feeling overwhelmed and sense that an unwillingness to cede control might be fueling your stress, it's time to reflect on your workload and take a hard look at areas where you can get some help. Ask yourself this question. Which tasks that I do give me energy and which drain my energy? Pick one area or task that drives you crazy and try handing it off. For example, if you hate bookkeeping, enlist the help of someone who loves and specializes in it.

[00:02:51] While this may feel uncomfortable in the short term, it won't be long before you feel the sense of relief and find more productive and enjoyable ways to use your time. When it comes to building your level of ease with delegation, consider Brian's advice. Quote, Everybody is not going to do everything exactly the way you would do that. And that's not a bad thing because you haven't cornered the market on all the best ways to do everything in an entire company, right? End quote.

[00:03:18] Finally, you need to learn how to gradually transition your knowledge and responsibilities in a way that grows others and leaves you feeling confident. For one proven way to accomplish this, check out our post on using coaching skills to enhance your leadership. It's on our website and it describes a facilitative leadership approach that encourages innovation, ownership, and accountability for your employees as they take on new tasks and greater levels of responsibility.

[00:03:45] Don't waste your energy on unhelpful stress when you can get some help and focus on success. And three, your sales pitch is stale. Many small business owners attract their first customers from their network of friends and close contacts. Why? Because you already have relationships with them. They know you and they trust you. They understand what you do and they can envision how you will help them. You don't need fancy marketing or messaging to reel these customers in.

[00:04:12] Their comfort and familiarity with you are enough to bring them in the door. Your original network might be broad enough to get you through your first years of business and initial phases of growth. However, at some point, you're going to hit the limits of that network. To continue growing and avoid hitting a plateau with your sales and revenue, you'll need to get in front of people that don't know you. You're going to have to convince them that you can solve a problem for them and that what you have to offer is better than other choices they might have. Your sales pitch becomes critical.

[00:04:41] Many small businesses struggle to develop messaging that moves potential customers to action. They focus too much on explaining what they do, not why. They emphasize the features of their products and services, not the problems they solve for their customers. When you have a misalignment of purpose with your messaging and your customers' needs, you hit a wall. How to get unstuck If you find that new potential customers are responding lukewarmly to your messaging and pitch,

[00:05:09] business strategist Glenn Hellman has some great advice on how to shake things up. In a recent presentation titled How to Pitch to the Reptilian Brain, Glenn outlined a sales pitch strategy that is designed to appeal to your customers in a way that you might not expect. His contention, which is based on recent research in neuroscience, is that the primitive reptilian part of our brain is the one that influences decision-making. Research shows that your customers' decision-making power might be similar to a lizard's.

[00:05:36] We often make the mistake of ignoring this and instead try to sell through logical and intellectual appeal. To hook and persuade your customers that they need your solution and need it now, consider reworking your pitch to incorporate the following points. 1. The old part of the brain is selfish and is programmed to avoid pain. Start your pitch by tapping into your client's top concerns and pain points. 2. The reptilian brain sees things in black and white.

[00:06:05] Sharply contrast what makes your solution unique and essential. 3. The old brain doesn't understand ambiguity. Generic terms like world-class or cutting-edge don't resonate. Make your solution concrete and tangible. 4. The reptilian brain responds to familiarity. Use simple analogies to make your products and solutions relative to something the customer understands.

[00:06:30] Offer social proof and references to let them know that they are not taking any risks by choosing your product. You just listened to part 2 of the post titled, 3 Hidden Sticking Points That Plague Small Businesses by Michael Melberg of MichaelMelberg.com. And thanks again to Michael. He is regularly featured across a couple of our podcasts. So if you'd like to hear more from him, just check out our other shows.

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[00:07:24] I thank you so much for being a subscriber and for joining us each and every day. Hope you had a great weekend if you're listening in real time. And I'll see you back here tomorrow for the Monday show, where your optimal life awaits.