How Passionate Are You About Your Business?
Passion is what drives us forward. It’s what gets us out of bed in the morning and into the office because we demand success, we are satisfied with nothing less and we will face every day with renewed vigour to achieve it. Your passion will be noticed by your customers, suppliers, anyone you come into contact with, and yes, if you are seeking funding from a business angel they will spot it too. Passion is one of the most important things that a business angel looks for in an entrepreneur because they know that it will see you through the tough times and reward you and them in the good times.
I like to think that sometimes life can be simplified into a micro environment, a familiar place that everyone knows where the full wonder of human diversity can be seen and appreciated. This is true of football stadiums and supermarkets and it is also true of retail outlets where you can see every level of human passion (or lack of) in a confined space.
To explain what I mean here are a few typical examples:
- The zombie – It may seem a little cruel but you have to admit that every retail outlet on the planet seems to be required by law to employ at least one of these, and in some cases the poor business owner must have done something wrong in a former life because their shop is over-run by them. A “zombie” can be recognised by the perpetual look of boredom on their face with nothing going on behind their eyes. You are more likely to get actual customer service from a BT call centre than you are from someone like this and business angels will run for the hills at the slightest hint of zombie in you.
- The Rottweiler – Have you ever been in a shop where the assistants will not leave you alone? They follow you everywhere, “can I help you Sir?”, “can I be of any assistance?”, “do you want me to look for your size in that?”, etc. The “Rottweiler” is doggedly determined to badger you into buying something from them and have no interest in whether what they are selling you is what you want. Inevitably they may well make sales, but the returns will cancel out any profit the business may have hoped for. Business angels are not interested in pushy sales tactics used on them or your customers at the expense of the customer service.
- The sycophant – Fawning over the customer is rarely a comfortable sales technique (unless you’re a fan of Pretty Woman). The “sycophant” is often cringe-worthy and avoided at all costs because of the embarrassment of the continuous false praise. Business angels have heard it all, so no amount of praise from a total stranger will make a dent in their armour. It’s best not to try this approach.
- The know-it-all – The old adage “the customer is always right” is of course not always the case, but the customer must be made to feel that they are king. However there still seem to be far too many sales assistants out there with a superiority complex who either will not let you get a word in edgeways to buy or they put you off buying by attempting to look down on you. Whilst your passion for your business may mean that you have more knowledge about it than the business angels you are seeking funding from, humility is always advised during these negotiations.
- The wallflower – They can’t sell to you if they don’t speak to you. Passion for your business should go hand in hand with the communication of this passion. When you are presenting to business angels you must exude confidence.
Would you buy from any of these sales assistants? Would you recommend the shop to your friends? Business angels buy into the dream of a business, its profit potential and the passion of the business owner. If you are seeking additional funding and would like to discuss your business or business idea with a number of business angels then visit www.angelsden.co.uk where you’ll find a refreshingly different approach to business funding.
Image © Neate
