Christy Wright became an entrepreneur at age 23 and now coaches business leaders full time in addition to podcasting and speaking on some of the biggest stages in the world.
Christy shares some remarkable insights on the fears most entrepreneurs face, overcoming them, how to get started, and how to price yourself and your product in the market. Plus, she talks about how to respond when people want things cheaper or simply for free, and how to say no, nicely.
Welcome to Episode 285 of the podcast. Listen and access the show notes below or search for the Carey Nieuwhof Leadership Podcast on Apple Podcasts or wherever you get your podcasts and listen for free.
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Christy Wright | Facebook | Instagram | Twitter | Business Boutique
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3 Insights from Christy
1. When starting a business, start with the baby version of the idea
Most people, when getting into the business space, believe that they know exactly what the market wants. They know what they need to say, what they need to do, and what they need to get sales, but you don’t. Business is a conversation with a marketplace. You have to learn what the market wants before you have a successful business.
To solve this problem, Christy recommends that you start with a baby version of your idea when you are starting a business. When you start with a small version, you can begin to learn what questions the market will have and how your idea sits with the audience you are trying to reach. This real-time feedback from the market will sharpen you for when you launch the full version of your idea.
2. The bait you fish with determines the fish you catch
Pricing your business is like fishing. You use a certain type of bait to catch the specific type of fish you want to catch. When you put out a cheap price, you wonder why you’re getting cheapos. That’s your bait. If you want to raise your quality of client, stop lowering your price at every request.
When you find that person (and they are out there) sales are effortless. You don’t have to twist their arm. You don’t have to talk them into it. The right customer is more than willing to pay for your service because they see the value and understand why the price is so high. Christy used getting a cheap massage as an example. She isn’t comfortable paying for a $25 massage. She is more than comfortable paying for the $75 massage that is guaranteed to be high-quality.
3. In business, your nos are just as important as your yeses
Most leaders are faced with more requests for their time, money, and resources than they are able to say yes to. The problem is that we often let our feelings determine our responses to those requests, we don’t want to “hurt their feelings” or “make things awkward,” so we say yes to the things that end up doing more harm than good to our organization.
Writing out a scripted, but still authentic “no” that you will tell people when they request your time is a discipline that will pay off over and over in your business and personal life. When you write out the no, practice it over and over until it feels like second nature. Then, next time someone makes a request you should say no to, you are ready to respond well!
Quotes from Episode 285
Fear is not a sign you're doing something bad, it's a sign you're doing something bold. @ChristyBWright Click To Tweet In business, the bait you use determines the fish you catch. @ChristyBWright Click To Tweet Nothing will silence your fear of doing the thing, like doing the thing. @ChristyBWright Click To Tweet An honest no is always better than a dishonest yes. @ChristyBWright Click To TweetRead or Download the Transcript for Episode 285
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Next Episode: Dr. John Townsend
John Townsend is one of today’s leading business consultants, leadership coaches, psychologists and best selling author of 35 books. John talks why high performing leaders experience more negative self-talk than others, why it eventually becomes counter-productive, and how to rewire your brain to silence your inner critic. Plus, John shares why most leaders have the wrong kind of relationships in their lives, and how to find the best ones. And as a bonus, John explains how to clearly say no and establish boundaries in a way that doesn’t hurt people.
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