As business owners, and entrepreneurs we are driven to work for ourselves. We are our own bosses and determine our own outcomes. We are inspired by only our vision to be leaders, innovators, and creators. We are completely “betting on ourselves”. But there comes a time when we lose focus and begin “Chasing the Money”.
The term is widely used within social media, and social circles as well. For the purposes of this short conversation, I will set a clear definition. “Chasing the money” is working with a few customers for less. A few examples that come to mind are:
1. Lowering your price for a customer (not a client)
2. Offering discounts
3. Offering unfavorable terms
I have worked with clients and discovered that “chasing the money” is very common among small businesses and entrepreneurs. As we discuss some of the business processes, I realize that there needs to be a mental shift. For example, view discounts to customers as losing money vs making money. Clients will pay your standard price every time. So why give someone new a discount? You are stealing from your own business!!!
We all want our businesses to be successful. “Chasing the money” is not a successful practice. If it really worked, more successful businesses would be doing this. If you need help with your business, marketing, and or webpage design, send me a message.
Thank you for reading,
Dr. Jason C. Crawley, Founder, and CEO
Crawley Consulting Group, LLC