Why don’t you do more business overseas?

Strange as it may seem, people make most decisions based upon emotion rather than facts.

Sales training courses emphasize the need to engage with the customer emotionally, using the Know, Like and Trust principle.  Anyone who has bought a house will recognize it’s an emotional purchase. When you’re deciding whether to buy a property, there may and should be some filtering of the options based on facts – for example, distance to the station, school catchment areas etc. – but, at the end of the day, the decision will be emotional.

The same is true for other purchases. Cars are bought based on emotional decisions and car manufacturers spend fortunes promoting their brands rather than the mechanical features. 

Do you remember the Janis Joplin song ‘Oh Lord, won’t you buy me a Mercedes-Benz’? That wasn’t an advertisement, but it shows the power of the brand.

In your business, however, emotional decisions can lead you astray. I’ve seen talented individuals leave businesses as a result of disagreements with their managers, when in fact these talented individuals were suggesting business improvements. These improvements were taken as criticism of the managers, who reacted emotionally instead of rationally.

It’s emotional reaction that can hold a business back. You don’t take the opportunity to engage that new supplier or explore that uncharted overseas market because you don’t know what might be involved.  When we don’t know what something might involve, the usual reaction is fear – fear of the unknown.

If you add into the mix a whole range of preconceptions and apocryphal stories that abound, especially when it comes to overseas markets, you have a recipe for poor decision-making! You’ll hear any number of horror stories likely to affect your perception of overseas trading opportunities – but you won’t hear very much about the millions of ventures successfully achieved in other markets.

There’s no rational reason to avoid these market opportunities, but you do have to do your research and plan for them. You should focus on gathering as much factual information as possible and proceed slowly, step by step. The success you enjoy in these new areas will be well worthwhile!

You can’t just choose the good bits

During the festive season I have mixed emotions. On the plus side, there’s the excitement and pleasure of family get-togethers and the happy times they bring. The negative side is trying to avoid the Christmas shopping crowds, corny canned music and over-hyped Christmas deals. And please don’t get me started on the ‘friends and family’ bulletins that some people insist on sending, telling you how wonderful their year/vacation/kids are or have been!

Putting the Grinch aside and focusing on the cheerful is my way forward.

But it’s important to understand that good things are often accompanied by things that are not so good, or even downright bad. This is true in business as well.

Having a leadership position allows you to enjoy many benefits – and I’m not talking about financial reward. These include opportunities to make a difference and help the team who work with you. There can be opportunities to hire or promote deserving individuals. You often get to travel, meet customers and suppliers, and attend events and conferences.

Those benefits are counterbalanced by the less pleasant aspects and responsibilities of leadership. If you’re responsible for hiring people, you’re also responsible for making sure they are performing to the required standard and, if necessary, firing those who don’t make the grade.

You may have opportunities to meet and greet customers, but you’re also responsible for managing those relationships when customers are less happy with you!

My method for dealing with the Christmas negatives – ignoring them and focusing on the good stuff – won’t wash in business. When you’re in business, you need to be able to take the good with the bad, deal with the unpleasant as well as the pleasant, and accept responsibility as well as authority.

You can’t just choose the good bits.