Confidence for Small Business Owners

MAROUBRA, Australia - Dec. 31, 2015 - PRLog -- It's not easy to get your project and your own business started, but once you do, it still needs regular maintenance, and that maintenance does not only refer to keeping the place in good order – you need to be emotionally and psychologically willing to do what's best for your business and for you. One of the main aspects that a small business owner needs is confidence. They are the ones calling the shots, so they need to feel sure that they can handle it. Insecurity leads to bad business decisions (http://abundancecoaching.com/business-and-executive-coaching-with-us/)  and can make the business unprofitable on the short or the long run. Let's take a look at some of the most common aspects in which your confidence as a business owner needs to show.

·         Fair pricing

Fair pricing means not undecharging or overcharging. In small businesses, undercharging is more common, however, it is quite harmful. It prevents you from making a profit and sends the message that your services and products are not as “good” as others. You need to set a good, fair price that will allow you to maintain your business. A lack of fair pricing shows a lack of confidence.

·         Saying “no”

While it's perfectly fine and healthy to have discounts and holiday promos, it's important not to give out discounts or not to do things for free just because someone asks. Your time and effort, as well as your products, are worth money and you need to say “no” if you don't feel comfortable with a request. It's better to lose a sale than get trapped in a pattern where you can't ask your clients to pay.

·         Set boundaries

You need to show what you will do and what you won't do, what is the scope of your business. You may do deliveries or not, you may have a specific refund policy or a fixed service provision (e.g., you deliver the products, but not install them, for example). You need to have a consistent set of boundaries to avoid others taking advantage. Be consistent with what you will and won't do.

·         Focus on your business

You need to be aware of the competition, but truly, the main competitor you have is yourself. Your business needs to improve and grow, and it's important that you focus on improving yourself rather than on competing with others. From the outside, other businesses may look like they are doing better, but that may not be the case. Also, there are strategies that work for others, but may not work for you. Focus on doing what's best for your business and on having confidence that you know if something works or doesn't and what you can do to make your business better.

Sometimes, we can have difficulties building our confidence and feeling like the leaders of our own businesses. If that's the case, you might consider seeking some life coaching. We offer our services through www.abundancecoaching.com and welcome you to contact us to improve your confidence. Contact us for a consultation or a coaching session to see how our coaches can help you! We offer our services in Sydney, Australia.