Navigating the Question: “How’s Your Business Going?”
Last April, I made a significant leap by leaving my corporate job to pursue my passion and establish my own business. This transition has been exhilarating, yet it comes with its own set of challenges. At this point in my entrepreneurial journey, I’ve realized that setting concrete milestones can feel a bit arbitrary. Our current focus is on continual growth while ensuring we meet our customers’ needs and strategically preparing for future expansion.
One of the most common questions I encounter is, “How is your business doing?” This inquiry can be challenging to navigate, especially since the definition of success varies from one entrepreneur to another.
To give you some context, I’ve set up a bootstrapped professional services company. Currently, we have 12 clients, generating approximately $330,000 in Annual Recurring Revenue (ARR) and around $350,000 in total sales, including setup fees. We are just beginning to see solid profits, but we’re not yet in a position to pay ourselves. Like many in the entrepreneurial world, my feelings fluctuate daily. Some days, I feel like we’re on the brink of conquering the industry; other days, I second-guess my decision to leave my six-figure salary.
So, how should you approach this question when it comes up in conversation? Here are a few strategies that might help you frame your response:
1. Emphasize the Journey
Rather than simply stating numbers, share your experiences. Talk about the lessons you’ve learned, the relationships you’ve built, and the improvements you’ve made to your services. Highlighting your journey adds depth to the conversation and portrays the business in a more relatable light.
2. Define Your Progress
Discuss your growth in terms of client relationships, product development, or market understanding, rather than focusing solely on financial metrics. You might say something like, “We’re currently building a strong client base and refining our services to better meet their needs.”
3. Be Honest Yet Optimistic
Acknowledge the challenges you face, but balance them with enthusiasm for the potential of your venture. For instance, you could explain, “There are ups and downs, but I’m excited about where we’re headed and the impact we can make.”
4. Invite Engagement
Encourage the other person to share their thoughts or experiences. This can turn a simple question into a meaningful conversation. You could respond, “It’s been a rewarding journey! Have you ever thought about starting a business?”
By reframing your response to the perennial question of your business’s progress, you invite a richer dialogue and portray yourself as a passionate entrepreneur on a unique journey. Remember, every business travels its own path, and sharing yours can inspire others along the way.
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Answering the question “How’s your business going?” can feel daunting, especially for new entrepreneurs who have recently taken a leap of faith like you have. Crafting a response that reflects your journey while providing context can help you not only convey your current status but also engage your audience. Here’s a detailed approach to consider:
1. Frame it Positively
Begin with a positive spin, regardless of your current feelings about your progress. For instance, you could say, “It’s going really well! We’re in a growth phase and focusing on delivering exceptional value to our clients.” By starting on a positive note, you set a constructive tone for the conversation.
2. Share Specifics
Instead of keeping your answer vague, provide some concrete details about your progress. You might mention, “We’ve successfully onboarded 12 clients and achieved approximately $330k in annual recurring revenue.” Providing specific metrics not only highlights your accomplishments but also adds credibility to your success. Tailor these specifics to your audience—if they’re familiar with business terms, don’t shy away from using them.
3. Discuss Your Journey
Acknowledge the ups and downs of entrepreneurship. You might say, “There are days when I feel we are on the verge of something great, but there are also moments of doubt, especially stepping away from a stable corporate job.” This honesty resonates with people and helps them relate to your experience. It also opens the floor for deeper conversations about entrepreneurship.
4. Mention Future Plans
To showcase your vision and ambition, you can say, “We are focused on scaling our services further while maintaining our customer satisfaction.” Briefly discussing your plans not only emphasizes your commitment but also reminds others that growth is a continual process. This can also serve to build a network of potential partners or clients who may be interested in helping you achieve those plans.
5. Invite Their Perspective
Engaging your audience can make the conversation more interactive. You could end with a question such as, “What has been your experience in business growth?” or “I’d love to hear how you navigated similar challenges.” This can lead to valuable exchanges and strengthen professional relationships.
6. Maintain Authenticity
It’s essential to be genuine in your response. If you genuinely feel uncertain, you could say something like, “While we’re making strides, I won’t pretend it’s been smooth sailing. It’s a learning experience every day, but I’m excited about what lies ahead.” This kind of authenticity fosters trust and rapport.
Final Thoughts
Answering “How’s your business going?” provides a unique opportunity to reflect on your entrepreneurial journey, share your successes, and establish connections. Keep your response positive, informative, and open-ended to encourage further dialogue. As you progress, remember that each conversation can help shape your narrative and possibly uncover new opportunities or insights from others in your network. Ultimately, success isn’t just about numbers; it’s about the relationships you build and the impact you create along the way.
Thank you for sharing your insights on navigating the often-loaded question, “How’s your business going?” Your approach to framing the conversation is not only practical but also empowers other entrepreneurs to embrace their journey with authenticity.
One aspect I’d like to add is the importance of storytelling in these interactions. As you mentioned, emphasizing the journey adds depth, and incorporating specific anecdotes can further engage your audience. For instance, sharing a pivotal moment—a particularly challenging client project or a breakthrough in understanding your market—can illustrate the realities of entrepreneurship while making your experiences relatable. This not only opens up the discussion but also humanizes the entrepreneurial experience, making it more tangible for listeners who may be considering their own business ventures.
Moreover, as you contemplate your business’s growth and future, it might be useful to reflect on how to balance that enthusiasm with grounded expectations. Encouraging potential clients or partners to understand the stages of growth can set realistic milestones for engagement and support, allowing for sustained relationships even during the inevitable ups and downs of entrepreneurship.
Overall, your method of opening a dialogue while sharing your journey is brilliant. It has the potential to inspire others and create a community of support among fellow entrepreneurs. Keep up the fantastic work!