Last week I met a business owner at an educational session I was presenting. After the presentation he asked if we could visit and get to know each other better. We adjourned to the nearby Starbucks, and I asked him to share his story.
45 minutes later I knew everything about this business owner, both personal and business. I learned about his failures and successes; he shared his vision and also gave me a run down on his financial situation. He was very excited about his business and the future potential for his unique product.
To this point I had not shared my story nor told him anything about who I am and what I do. The only contact was the 50 minute presentation I made on How-to Build a Business Plan.( I may have a competitor that is a client and I can divulge information about his firm).
Thus my title, There has to be a little mystery in your story. Enthusiasm is a great tool in building a business. It helps motivate an owner as well as staff, current clients and target market; but, there are certain things that should only be discussed with your own CPA, Attorney, business partner, consultant, etc.
- Your financial situation
- Income or losses
- Business problems with clients, staff, etc.
- Issues in your personal life
- Detailed plans of any kind that will have an impact on the future of the business.
There are times and places where you may need to share the above information, but it certainly should not be at a first meeting with a stranger.
Most people wn sohare this type of personal information, in my opinion, are broadcasting a “hope for help.” They may feel that if they tell their story to enough people, someone will have that magic wand that will solve all their problems.
Yes, talk to people, share your enthusiasm. Be proud of your business, but leave the mystery of the personal issues in your business and personal life locked up in your own mind. Trusted relationships take some time to be established. Work towards establishing a connection of trust. Know with whom you are sharing and, don’t get taken in by title, personal mannerisms, or other “boastings” about successes.
All miscommunications are the result of differing assumptions. Jerry Ballard
Nick J. Petra CFP Building trustworthy relationships is the corner stone of my practice.