Business and Boxing: Here’s Why Boxers Make Better Entrepreneurs
Fighting has been around for approximately… forever. However, like anything else, there’s a right way and a “not so” right way to fight. The “not so” right way to fight is to go into the street and start swinging wildly at everyone like a maniac. Chances are, you’ll land a few punches but eventually get knocked out or hit by a car (kids, don’t fight in the street). The smarter way to fight is to learn how to box, get a feel for how to move around the ring, and most importantly, study the opposition. Your business is no exception. Here’s why doing business and boxing have stark similarities: You can’t afford to be using your time and money inefficiently by advertising and marketing willy-nilly. That’s how you get knocked out… or hit by a car. You need to learn how to box. Late last year, Gary Vaynerchuk – social media guru, wine connoisseur, (oh, and Bindo investor) – published his book: Jab, Jab, Jab, Right Hook. Two of the main takeaways from this book are to give way more than you ask for. Jab, jab, jab, right hook is a metaphor for give, give, give, ask. No one wants to feel like they’re being sold something, but they’re a thousand times more likely to buy your product if you’ve given them value first. So how do we do this? It all starts with being a part of the conversation. Write, comment on other blogs, and share articles, posts, and anything else that can boost your customers’ visibility and that are relevant to your audience. Give value by contributing to the conversation. Give value by sharing other people’s content. Give value by finding out what your audience wants and how you can fulfill their needs. Only after you’ve done this, should you begin to ask. There is a second piece of the puzzle. For example, let’s take a small retail wine shop. After you’ve thrown enough jabs, you can throw your first right hook. Rather than just throwing it, however, set it up with one more jab. For instance, offer customers a 5% discount off of their next purchase. This is giving them something small, while you’re swinging around that haymaker asking them to come in and spend money at your store. The beauty of it is, you really don’t even need to ask them to come in because the consumer can only take advantage of that 5% discount by coming into your store. That’s how you ask, but where do you ask? The context of your ask is just as important – if not more important as what you’re actually asking. If you’re selling wine, Snapchat probably isn’t where you want to be advertising being that the bulk audience is between 12 and 20 years old. While I’m sure they’d love to be able to buy your finest Bordeaux, they are not your ideal customers for a number of reasons. Twitter, however, may be perfect for you as it allows a quick blurb of what you’re offering and even lets you throw in a pretty picture. Remember, there’s no magic potion for overnight success. As I’m sure you already know, growing a great business takes time and patience. The most important thing you can do is to find a platform that works well for you, keep giving, and then ask. Fighting is easy, but it rarely leads to anything productive. Boxing, however, is an art that when mastered, can lead to tons of success…or at least keep you from getting hit by a car. Learn to box. Your business depends on it. Have you ever used this approach to connect business and boxing? Let us know in the comments!
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