No one starts up a business with the intent of giving free hand-outs. But then again we all know that sometimes, this is exactly what happens.
Perhaps it was easy to do the occasional favour for a friend back in the beginning, during those first steps when it was important to test the waters or when assessing the success of your ideas meant bringing them to life on a smaller scale; but as time moves on and the ideas grow, expand and become real – your time is much more precious.
The business is not just a small spark any more, it’s a lifestyle choice you live…..
It’s critical at this point, to put a value on your time, effort and skills.
Rome certainly wasn’t built in a day and neither was your empire. Equally, without support and carefully developed partnerships, the Romans would have fallen at the first hurdle.
In our digital world of instant contact, internet reviews and expedited delivery across the globe it can be difficult to pinpoint the exact moment that you make the step from ‘start-up’ to becoming a fully-fledged business. Much of that transition depends on the confidence you have in yourself and in your finished product.
Working with other small businesses can bring a sense of connection and support and establishing partnerships early on in the lifetime of a business can be incredibly rewarding. It can seem like a good idea, once given the chance to offer your services to another business, to offer a heavily discounted rate; thereby, almost certainly guaranteeing a glowing review and endorsement of your product or service. However, just as quickly – the credibility of your work can come under the microscope. Questions can arise about shortcoming in your own sense of worth and the worth of the business.
Instead, offering your services at a price you would expect to pay for them, will ensure that there is a mutual understanding and respect. There aren’t many honest, hard-working business owners who don’t understand the difficulty of becoming and being a successful entity and therefore will accept your terms and pricing for the value that they stand for.
Remembering the ethos of being a good business owner is important when it comes to putting a price on what you do and what you hope your business will grow into.
At a certain point, these are no longer favours for a friend, and you aren’t in training any more; you are a BUSINESS providing a quality service / product & need to behave that way.
Respect for growing small-businesses is rich in our everyday lives, not just from others who have started and are starting out just as you are, but also from those consumers who are making informed choices about the people they seek out. Confidence in your product is always going to be your first tool in marketing and to undersell, even to another business can be detrimental to your business health.
Seek out other business possibilities, work out where you can both benefit from the support of one another.