There is so much planning that goes into starting a business – arranging finances, making a business plan, organizing the infrastructure etc., but there’s something more that is important that one should consider before commencing their entrepreneurial journey – being prepared from the inside & ready to face your fears and the challenges ahead!
To paraphrase Brain Tracy “The Key to Success is to focus our Conscious Mind on Things we Desire not Things we Fear.”
There are many people who aspire to become Entrepreneurs but few make it happen. Every Entrepreneur – failed or successful goes through fear and anxiety before launching their business. However, there is a difference between the two – the successful entrepreneur faces and overcomes fear while the other gives into his fear and quits.
Have you been nurturing an entrepreneurial dream but your inner fears are holding you back?
Entrepreneurship is not an easy task, there are many known and unknown hurdles at every stage that one needs to endure. Like Brain Tracy rightly says; In such situations an entrepreneur needs to focus on his goal and work towards achieving it rather than focusing on his fears and anxieties.
If your fear is holding you back from taking the entrepreneurial plunge, review this list of fears that are holding you back and learn how it’s possible to overcome them:
- Fear of Failure: It is often assumed that entrepreneurs do not fail; every entrepreneurial venture is successful; sadly, this is not true. Failure happens to lots of people. Most successful entrepreneurs have faced failures, endured it, learnt from it, moved on and then succeeded. If fear of failure is holding you back from starting your own business, remember you’re not alone. You have to keep your goal is mind and focus on it instead. Failure is inevitable but it’s how you overcome it, is what determines your entrepreneurial success.
- Lack of confidence, not being an expert: It’s always advisable to venture into an industry/business that you have been passionate about. It’s absolutely essential to have some understanding of the business you are getting into so that you know enough about your product or service to be able to sell it to your clients. At the same time you always have to be open to learning, as willingness to learn will help you grow and succeed & there is so much knowledge that you will pick up on the way.
- Fear of quitting your job: Moving out of their comfort zone is a common fear faced by aspiring entrepreneurs who fear losing out on income and not being able to manage responsibilities. There is no guarantee that your business will make money in its initial stages and therefore the initial days can be difficult especially if you have a family and are the sole bread winner of the family.In such a situation it is best to have your family’s complete support and cooperation. To prepare for this you have to manage your finances to take care of your personal & professional needs. There is no guaranteed timeline as to when you will start generating income. The best solution to overcome this is to plan yourself well (financially, mentally and emotionally) till a period where you guarantee projected revenues.
- Fear of rejection: We want to be accepted, appreciated and rejection is most dreaded. No one wants to be told that their idea is not great, that their services are not better than competitors. The key is to keep in mind that rejections are stepping stones to understand why people are rejecting your product/idea and improve it.
Learning and growing comes hand in hand in Entrepreneurship. Being fearless would also be overconfident which may not be good for a new business. Fear is good and it’s normal to have worries & anxieties as these will help you keep your head on your shoulders and think through the decisions that you make especially when you’re faced by difficulties.
Entrepreneurship is for people with fears, anxieties and who are well prepared and willing to face their fears, learn & overcome them rather than giving up when the Going gets Tough!
I started my career in industrial sales. And like every other industrial sales person, I was also trained to prospect with those customers who experience a pain area, and my product/service/solution would alleviate that pain. Only after establishing that I can help remove that pain area, would I move forward with commercial conversations with the purchase/procurement teams.
This process is almost the norm in the industrial sales sector where salespersons develop their knowledge of a sector and at the same time, continue to develop their relationship with the line managers – people who we then used to refer to as MAN- a person with Money, Authority and Need. Even though the term is a thing of the past, the concept remains the same – prospect with the one who has a need and authority.
When I talk to my ex-colleagues who have continued to work in the same space and have grown from the ranks to manage country level operations and in some cases, multi-country operations, I safely conclude that the sales process remains the same and the gestation to become a good sales leader is still a function of knowledge and connections of/within the Industry.
You may be wondering what this ramble has to do with recruitment?
When I joined Antal, I was pleasantly surprised to learn that Antal’s market development and sales fundamentals closely resonate to what I learned in my formative industrial sales years- GO TO THE PERSON WITH THE PAIN.
And therefore, we emphasize prospecting with line managers – hiring managers – people who are in real pain because they are missing a team member. These line managers have a department goal/ objectives that contribute to the larger revenue and profitability picture of the company as a whole. Having an appropriate team in place is pre-requisite for achieving the goal.
If the right talent is not available, it puts a lot of strain on the Team Lead/Head and the rest of the team- it means stretching self to breaking point, compromising work-life balance and quality of life, cutting a sorry figure with the management team and some cases not using the best of the Technology.
When I prospect, I am looking for pain – I am trained to look for pain. Even as somebody in recruitment, I am looking for the pain the line managers are going through because of lack of great talent in their teams. And if I am able to present the right candidate who can help not only fix the problem but also increase productivity, market share and increase the morale of the team- I believe my role as a specialist recruiter is justified.
But if only, selling within Recruitment was so easy!!
Into this equation, however, I have to very often deal with, is somebody completely unrelated to the pain, Somebody who doesn’t empathise with the pain of the line manager, somebody who is extremely clinical – sometimes to an extent, that they are only talking about number of resumes, lowest quote and not the best candidate. This somebody is the Talent Acquisition (TA) team.
I have been a hiring manager myself within IT industry and I do think that more than the cost savings, the TA team also need to be measured against opportunity costs lost to the business, compromise in quality of life, deteriorating health of the line manager because a great talent couldn’t come on board.
I think it’s time to end the thought that talent is the responsibility of the TA team only.
Talent is the responsibility of the direct supervisor, of the department/delivery head, of the CEO of the company. Great talent enriches the company in more ways than one, and the only way to achieve a great talent mix in the company is to give greater autonomy to department heads in hiring, within a corporate governance and ethics framework.
This article was penned by Mr Vinu Nair, Managing Partner Antal Chennai. He focuses on Head Hunting, recruiting key talent and business leaders for my clients in the ITES industry. Prior to joining the Antal Network, Vinu Nair has worked in the Sales & Marketing and IT sector for more than 20 years. He was Vice President at NTT Data, managing their business in India and Middle East region. He played key roles in the SAP delivery team for many years before moving to Sales and Business Development.
Vinu would be happy to hear from you..any comments and rebuttals either on the blogs comment section or through a direct email to him on firstname.lastname@example.org.
Meet us at the Franchise India Expo, on May 20 & 21, 2017 @ Stall No 7
This summer kickstart your own recruitment business with Antal International.
Antal International is a 24+ year’s global executive recruitment business with 146+ offices across 33+ countries. Antal as a brand came to India 10 years ago and since then we have helped many aspiring entrepreneurs coming from professional backgrounds establish their own successful recruitment business.
Antal International not only gives you an opportunity to earn a significant profit from a relatively low investment (approx. 10 – 15 lakhs) but also grooms you as a recruitment leader & mentor who facilitate the career growth of candidates by coaching them and finding them the right opportunity as well as advice clients on how to meet their business goals by hiring the right people.
As a franchise owner you will be perfectly positioned to develop a profitable business in this low overhead/high return industry. You will launch and operate your business using our globally recognized brand and award winning methodology, all backed by a leading team of recruitment and franchising specialists. When you join Antal you will be joining an award winning Franchisor, externally recognized for their achievements in recruitment franchising, entrepreneurialism and training.
Why Join Antal International
- Leverage from a global brand represented across 33 countries (144 offices).
- Shared business through our global network of offices. Our franchisees add 15-25% to their revenues through sharing candidates, clients and fees
- Access to thousands of blue chip multinational clients
- Comprehensive training for you and your staff throughout the full term of the franchise license
- Regular international networking, training, strategy events and conferences
- Weekly Antal Now call facilitating business sharing
For more comprehensive information on Antal International Network recruitment franchising log onto www.india.antalfranchising.com
Long weekends are a great way to relax and there’s nothing better that having a great book to accompany you. This weekend we are giving you 5 great books that you can get your hands on if you are a sales professional, business owner.
With a goal in mind to inspire you and help you improve your sales skills we asked our Franchise Training Director, Ms. Shinu Jose to suggest 5 of her favorite sales books that she believes are a must-read for anyone who is involved with sales on a daily basis
So here’s her list….
Secrets of Closing a Sale- Zig Ziglar
Zig Ziglar is synonym with sales, if you’re passionate about sales there is a very low change that you may not have reads his books. ‘Secrets of Closing a Sale’ is a must on my list of recommendations because of one of the key things he highlights which I feel that most of us choose to ignore “there’s no room for success in a salesman’s career if he’s taking the fast route, making the quick sale, and then locking the door behind him.” He gives a number of examples through humorous real life situations and thought provoking questions that can be used to influence a yes from your prospects. He suggests techniques that are easy to understand and apply, yet have a far-reaching impact.
How I raised myself from failure to success in selling- Frank Bettger
This is one inspiring story that someone can relate to, how Frank Bettger failed insurance salesman, to owning his own estate and having the possibility for early retirement. This book is a journey through his financial stability with examples from his personal experience. Some overarching themes that his book highlights include the best ways to conquer fear, the power of enthusiasm and more. A must read for someone who is going through a rough patch and is trying to find a find their spark again
Influence- the Psychology of Persuasion- Dr Robert Cialdini
Whenever we are asked to purchase something, do something, meet someone we have to be persuaded before we agree. We simply want a reason behind everything we do. As a sales professional persuading business prospects, customers is part of our daily work routine. In this book Dr Robert Cialdini brilliantly puts down 6 principles of persuasion, talks about why people say “YES” and how to persuade them to say yes.
Negotiation Genius- Deepak Malhotra, and Max Buzerman
A brilliant book by 2 geniuses, who list down proven strategies, principles and habits that can help you achieve positive results in any negotiations. This book is the perfect guide for preparing and executing negotiations – whether its cracking a business deal or negotiating a home deal or your next salary.
Hardball Selling- Robert L Shook
Shook guides sales persons to master hard selling using four basic principles. He focuses on various steps in a sales process such as getting past the “gatekeeper” to the single-minded tactics necessary to close a sale.
Here’s to a great weekend… Happy Reading
Keep Learning, Keep Grow