How to DEAL with Life as a Business Owner

Estimated reading time: 3 mins

Being a business owner is a dream for many. For some, it turns out to be a dream come true. But the starting up of a business isn’t the be all and end all for business owners, and it never should be. No, an owner of a business should always be driving their business forward and looking to help it grow and expand. And one way for them to do so is to work on their own business etiquette. Specifically, they should learn how to seal deals, how to spot the right deals and how to deal with adverse situations. For advice on how to do these things, make sure to read on.

Learn how to seal important deals

Sealing all deals, whether they’re important or not, is something every business owner should be able to do. And to do it, a few golden rules should be followed; the most golden of these rules is the fact that the act of deal sealing should begin as soon as interaction with a potential client is made. Yes, the process of deal sealing begins as soon as contact is made, and a deal can even be sealed within the first seven seconds of it. Because of this, whenever you make contact with a potential client or investor, you should ensure you do a number of things. You should exert confidence in yourself and your business, but not over confidence. You should greet them with a firm handshake. You should keep their eye line, the whole time. And you should try to convey the style of business you own in your tone and actions.

Learn how to spot the right deal for your business

As a business owner you are going to be inundated with a host of external forces claiming that they can bring something of value to you and your business — whether what they bring to you is valuable or not. And it’s your job, as the protector of your business, to wade through these proposals and pick out the ones that actually can aid you and it, and not aid the proposer. As well as this, it’s your job to also reject offers that are of no value to your business; so, learn how to say no sooner rather than later. You need to do this because, by saying yes to a bad deal, you could land your business in all sorts of adverse situations, such as financial troubles or even troubles with the law.

Learn how to deal with adverse business situations

However, landing your business in an adverse situation isn’t the end of the world. Yes, it’s not ideal. But no, it need not spell the end of your business. One such adverse situation that you and your business may find yourself in are those regarding negative feedback. Negative feedback is staple of the world of business, and it’s important to remember this. Every business and its owner is going to receive it in some form or another at some point. So, receiving it isn’t the problem; what is the problem, or what can cause a problem, is the way you deal with it. First and foremost, you should always receive the criticism thrown your way without being too defensive about it. When you are too defensive, you open yourself up to being embarrassed both further and immeasurably.

Life as a business owner is all about dealing. It’s about learning to both deal with the deck of cards you have been given, and deal with the deck that you haven’t been given. So, go out there and deal!

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