Ep 87: Let's talk about 3 business boundaries you need to have in place.Jun 17, 2021
In today's episode, we talk about boundaries. Yes, business boundaries are very important and I share 3 crucial ones to put in place.
In life, we all have boundaries (or should LOL.) Many of us have boundaries in terms of food we eat or rules we put in place for our kids. Yes, they are common.
But what many new business owners don't realize is that you need boundaries too.
So here are the 3 boundaries you should have in place:
1 - Limit the number of products/services you offer. Especially if you have a product-based business, you have to watch out. Inventory can get out of control. And, if you give the customers too many choices, they may choose non. Confusion leads to them not buying.
2 - Set boundaries with customers. Think about stores you go to - they have hours they are open and closed. Those are boundaries. Whether you have a physical store or an online store, make sure you have boundaries laid out for your customers to see - make sure they know your response hours for customer support, deliveries, etc. Also - don't give out your personal cell phone number - trust me on this one :) In addition, you need to set boundaries with what they can/can't return, how they talk to you, etc.
3 - Set boundaries with yourself in terms of how much you are learning vs. how much you are taking action. It can be tempting for new business owners to keep learning and learning and learning ...without taking action. So many people who want to start a business get stuck in learning mode...so many who take a few steps then stall because they get stuck in learning mode. It's time for many of you to hang up your learning hat and put on your business owner hat and do what needs to get done to grow your business.
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