Hey everyone my name is Vik Patel on today’s episode of the ‘Entrepreneur within’ we talk about the ‘Fear of Rejection’.
Hey, are you an entrepreneur or maybe you already have your online business launched and ready to go either way. I invite you to join me on my journey. As I learn, apply, and share Internet’s most effective marketing secrets in my business.
So we finally passed the phase of procrastination and we are all fired up with our goals written down, consuming the knowledge on a daily basis, taking things one step at a time. And now it’s finally the time to get in front of people. Talk about what is it that you are doing, share your plan, add value, and be loud about your new journey. But we face this big, bad monster that leaves a lot of entrepreneurs scared and stuck in their tracks. And that monster is called fear of rejection.
Fear of rejection is what stops a lot of entrepreneurs to not do the things they are destined to do, to not take the necessary step towards achieving their ultimate goal. It’s even worse than the fear of starting something new. A lot of times, you will develop a product or service design and art, write a song and decide not to put it in front of people, just because of fear of rejection. Don’t worry about rejection guys and gals.
See what I think is rejections are designed to naturally make you better or lead you towards something much better. So instead of worrying about rejection, seek rejections as they will only make you better businessmen or Businesswoman and make you a better person internally and externally. Worry about not knowing, not finding out. There is a saying, ‘Good thing comes to those who wait’.
I honestly think that’s complete garbage, patience is an important virtue to have but so as being impatient, what I think is good thing comes to those who take action. You will never find a successful person who only says, what if and never take action. If your business is in sales and marketing, which honestly is all businesses in the world(because all businesses include selling and marketing). This next bit is going to be very important for you.
Statistically 50% of your prospect, your potential client will never buy from you, which means half of the people you talk to are never going to buy from you, regardless of how good you are. This is why learning direct response marketing is key to be successful in your business. Out of the other 50%, that’s left 7.5% of your prospect is ready to buy from you right now. And when I say right now, it’s anywhere from zero to 90 days. From the time you started talking to them.
42.5% of them will buy in the next 90 days to 18 months. You know, what does that tell me? You will need to do a lot of followup with your prospect. Not that people don’t want to buy from you. They actually get distracted or become busy. Something comes up, life happens and they just need to be reminded sometimes. Around 44% of the people never follow up the second time. So a lot of people actually only approached someone one time and then they get rejected and never approach them again. Well, here’s the thing. 80% of the sales that happen on the planet requires up to five follow-ups.
Make a rule for yourself that only spent 15% of your time with prospects who show minimal interest(they are just kind in the game) and spend 85% of the time with prospects or clients who are really interested. And they want to make a change in the particular business. And for those asking, how do you know which one’s which well, you will know once you start talking to them, so start, start talking to them.
Now you might argue; Hey, Vik, I’ve started and people didn’t like my stuff, or my friends and family does not even support me. Look, here’s the thing, when people don’t understand something, their natural instinct is to think that it’s beneath them. If you think you can only be successful, when you get the approval of people around you, you are never going to be successful. You are different for a reason. And yeah, maybe you do suck right now, but it’s only the beginning.
Remember gold medalists are not born overnight. They are created by hours and hours of beating on their craft. It takes 10,000 hours to become an expert at anything. If you haven’t put in that time yet, don’t be surprised if people don’t like. Walt Disney was fired from his job for lack of creativity, Michael Jordon was kicked out of his high school basketball team. Have you ever thought if they got depressed and didn’t continue the things that they really love to do, we wouldn’t have Disney today, we wouldn’t have the greatest Chicago Bulls to ever live, MJ today!
Everyone who is destined to be great will have people who don’t like or support what they’re doing. And you know what? That’s totally fine. Every act of rejection that comes in your way is universe’s way of telling you to get better at your craft. Get smarter, become wiser, get stronger inside out. Tell people about your dreams, put it out there and just know if people don’t laugh at you after hearing about your dream, your dreams are probably not big enough. So dare to dream big and just go after it. Do not worry about the fear of rejection. Just do it, get in front of people, start talking, & just get it done. Ladies and Gentlemen, my name is Vik Patel until next time, take care.
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