Given Americans love affair with boxing, pro-wrestling and now the UFC I thought it was time to host my very own small biz smackdown.
That’s right. It’s time for the first ever…
Profit Cage Match!
If you’ve been in business longer than 5 minutes you know this epic battle never ends.
Think about it. Sales always wants lower prices, higher commmissions and better products. Finance always wants higher margins, lower risk, and streamlined products. These desires are in direct conflict with each other.
This is a GOOD thing
No I haven’t suffered a recent blow to my head.
The natural tension between sales and finance helps optimize price and profit, while acting as a catalyst for continuous improvement.
If there is absolutely no friction between finance and sales then you either have poor sales or an underpriced product. Either way I doubt you’ll be in business for long.
Many of you are solopreneurs and may wonder, does this really affect me? Yes!
So I’m supposed to fight myself?!
Nope, we’re going to get you a stunt double.
All of us have natural tendencies and inherent abilities. Take a minute to think about how you handled the pricing for your last sale. Which thought was stuck in your head?
“Making this sale is huge. If we just drop the price…”
or
“I can see this becoming a long term client. A reliable source of income…”
If the first sounds like you, then you need Finance Stunt Double. If the second refrain was running through your head you need a Sales Stand In.
Where do I find my stunt double?
Great question! Clearly posting on Craigslist or calling up your local temp agency is not going to be effective. (Although the temp agencies response may provide a few laughs.)
The good news is that you probably already know this person. Think about your extended network of business associates and colleagues. Chances are within that group is someone who is also a solo or micro business, and needs the other type of stand in.
Start speaking with your direct connections. Share your need and the benefits the other person will receive. Ask them for ideas on who to contact. The more specific you can be, the better your chances of getting a practical lead.
Also, pay attention to social media. If someone in your Twitter feed or a chat shows frustration with sales or finance, reach out to them. It might feel a bit awkward at first, but you’re providing a win-win situation. If done politely and professionally, the worst response you’ll get is a simple no. I’ve done this multiple times with great success.
When the Bell Rings
You’ve got your punching bag partner, now what?
I recommend having regularly scheduled calls or even face to face meetings if you live in the same city. They don’t have to be often, even once a month should be enough.
Prepare to talk about past and upcoming decisions regarding pricing and sales strategies. Even though you are there to represent “the other side,” don’t take it personally if your partner doesn’t always take your advice. The goal is to encourage each other to consider all aspects of the issue before making a decision.
Are you happy to see my cage match is more like those faux sumo wrestling events, with big padded costumes?
Final Thoughts
Do you have a stunt double? How do you find the balance in your business? Is there a specific burning issue you have in the struggle between sales and finance?