Loral Langemeier - Live Out Loud CEO, entrepreneurial wealth-building coach, international speaker, and 5-time New York Times bestselling author!
Money is always a touchy subject, but it’s particularly delicate in the world of business. Every company needs money and the only way to get money is to ask for it, whether it’s selling to a customer or meeting with an investor. There really is no other way around it.
Over the years, I’ve come across a number of entrepreneurs who tell me that they are afraid to ask for cash. It’s not uncommon and many professionals have to work hard to overcome this fear. However, overcoming it is critical because your inability or hesitance to ask is not only detrimental to you, but also to your investors and customers.
Typically, one’s hesitation for asking for money stems from one of two thoughts: you either don’t think you deserve it, or you don’t think you are worth it. Perhaps you doubt yourself as a business professional and assume an investor will think you are inexperienced, or are not ready to drive a company to success. Or, perhaps you think a customer will not share your vision or see the value in the service or product you are trying to sell.
I wish I could say there was one easy solution to shed these fears. There is not. For some entrepreneurs, simply reminding themselves that they are worth it is enough to instill confidence. For others, they may never entirely overcome these inner negative thoughts. While there may not be an easy solution, there is one thing I tell hesitant or self-doubting entrepreneurs. Ask yourself these two questions: “Am I good at what I do?” and “Do I solve a problem and/or meet the needs of others?” If the answer is “yes,” you are not selling; you are serving. You are providing something of worth to people, which makes you worthy of that investment.