Today is going to be a short and sweet episode but I hope you’ll all take it very seriously because I want to talk about empathy.
I know the title is a little click-baity but it’s the truth. In my experience serving hundreds of entrepreneurs over the course of my career, the number one thing that I see holding business owners back from successfully attracting customers or investors is a lack of empathy and probably about 80% of my time spent with clients is centered around trying to get them to be able to empathize.
Empathy is defined as the ability to understand and share the feelings of another; to put oneself in someone else’s shoes and truly understand what they’re thinking and feeling. If you learn to do this, do it well, and act on what you discover, you’ll always know exactly what you need to do to win more customers or attract investors. It’s as simple as that.
At the end of the day, nobody cares about you or your product or your business except you. The only thing anyone else cares about is themselves and how whatever you’re working on affects them. The sooner you can truly accept that and then spend your time trying to understand your potential customer or investor instead of focusing on getting them to understand you, the better. I just want to say that again really quickly – don’t waste time trying to get a potential customer or investor to understand you and why you’re passionate about your business, they don’t need to understand you, you need to understand them and show them exactly how your product or business benefits them so that they can be passionate about it for their own reasons.
If you want to attract investors, show them how they’ll make money and have any other impact they’re looking to have. If you want to attract customers, show them how easily your product fits into their lives and solves their problems. Dig deep into who they are and what makes them tick so that you can serve up what they’re looking for on a silver platter and you’ll be able to close the deal.
If you’re an aspiring entrepreneur, the best thing you can do for yourself is to just get started. Pick up my business planning ebook here to be guided through the whole business planning process for less than $5. More of a video person than a text person? Click here to try my ecourses instead.