Recently a friend of mine called me up asking me to lend a few minutes of my time to another area small business owner. I agreed simply because I saw it as another potential contact so a meeting was arranged at a local restaurant.
Upon arriving I saw that this gentleman had arrived 20 minutes early.Introductions were made and the conversation quickly turned to business or more to his lack of business. He had purchased an already built business with the understanding that the seller would be turning over all contracts and clients to him. The seller had quickly disappeared before the client information was ever exchanged leaving this man trying to tread water in the deep end of the pool where the big boys swim.
He was ready to give up completely after having tried cold calling had led to no sales. I quickly started explaining to him techniques such as the importance of having professional business cards and a website and explaining to him techniques I had used when I first started out, what had worked and what didn't. I explained to him the importance of having insurance, being bonded, and carrying workmans compensation insurance. The following is briefly how our conversation went from that point.
Him: A lot of what you are suggesting costs money
Me: Let me ask you this, can you do the job ?
Me : are others making money in this area doing the same job?
Me: Whats the difference between you and them?
Him: They have customers
Me: If you were to hire a company to do the same job for you, would you go with the one that had all his insurances and bonding or with the other guy that didn't?
Him: I suppose I would want the insured guy in case something happened
Me: Do you see where I'm going with this?
In the business world you have to be willing to invest in yourself, business is not exactly rocket science in most cases. If spending a few extra hundred dollars a month will enable you to make a few thousand extra that you would have not been able to had you not spent it, the worth outweighs the cost. If the cost does not outweigh the worth then by all means pass on it. See not rocket science at all, just common sense.