Business Mentor PodcastDealing with Rejection in Business
“Rejections should not discourage you or should it end your dreams.”
As entrepreneurs, you’re going to have to accept that it is highly likely that you won’t please everyone. A customer can love your product/service, but they could also dislike it too. But should you be affected by a sole customer’s decision?
Today on The Business Mentor Podcast, Jay discusses the 4 key areas to focus on when dealing with rejections in business. It’s understood the first rejection will significantly hurt you and that’s okay; We are only human! But you have to accept that there can and will be more rejection in the future. Treat them as motivation that can help you grow and progress in your business. Time to discover more! so tune in...
KEY TAKEAWAY
- Rejection an excellent way to tell you that your product is not good enough for the market. You’ll be rejected not just once, but twice, thrice, or a couple of times. But you should take this as learning instead.
- You won’t please everybody. But you have to have that burning desire to continue what you have started and aim to be successful.
- Get the right people around you. Have a mentor who you can help you grounded and remind you of your long-term goals. Don’t let rejections get to you.
4 Areas to Look At When Dealing With Rejections In Business:
- Don’t take it personally. Your business is a separate entity from your personal life.
- For example, some business owners think that selling their products and services to their family and friends. Though it might be good for your business, there’s a possibility that they really don’t need and buy them. And business owners tend to get hurt when this happens.
- Make it a learning opportunity. Aim for constant learning. If someone tells you something, listen and make notes on how you can incorporate it to improving your business.
- Use it to educate customers. Instead of seeing the customer’s comments as an attack, why don’t you educate them on what you can do for them and what other services can your offer. Give them free trials, demos, etc.
- Take it as an indicator where to go next. Round up 50-60 people, ask for feedback, and evaluate the gathered data.
BEST MOMENTS
- “Rejection is part of the business. You are gonna get rejected.”
- “Rejection is not a bad thing, it’s a positive thing.”
- “If someone or the statistics and the math are telling you that the part isn’t up to speed, it’s a great way to learn, right?”
- “A lot of us assume that the customer we deal with knows everything about our product, they don’t. so, have an option to educate them.”
VALUABLE RESOURCES
- The Entrepreneurs’ Secrets to Success Event: ly/ESSE2019
- The Business Mentor Podcast: A Special Announcement! The Entrepreneurs’ Secrets to Success Event Omny | iTunes | PlayerFM | Stitcher
ABOUT THE HOST
Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0-500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.
Its huge success inevitably brought about outside interest and at the age of 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.
A calling to give back and help others led to Jay being chosen for the highly-coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.
After helping several young entrepreneurs to success as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.
Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.
In the UK alone 95% of business fail within the first five years and Jay’s aim is to reduce that number.
Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.
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