Issue link: https://read.dmtmag.com/i/146145
SALES MARKETING Business Truisms That Aren't True And That Cause Trouble BY JOHN GRAHAM Some business ideas seem to have a life of 2. "I know, but it's a tax-deductible extheir own, particularly since they sound so rea- pense." The worst money mistake I ever made sonable. They're so much a part of the culture was agreeing to make a presentation at a conand so obvious that they go unchallenged, re- ference that was scheduled halfway across the quiring neither proof nor explanation. Since country. The convener held out the occasion they're "self-evident," they gain truism status. as an opportunity to meet and present to possiBut once unmasked, they're revealed to be ble clients. He described it as "a free pass to the what they really are –– untrue. hen house." This was his justification for not But that's not all. Some truisms aren't only paying a speaker's fee or covering travel exfalse; they can also be downright dangerous. penses. Here are seven popular I can still hear mybusiness truisms that deself justifying spendserve a closer look: ing the money since Some truisms aren't 1. "It takes money to at least the expenses make money." This one is were tax deductible. only false; they can so obvious that it has One way or the earned a permanent place other, everyone in also be downright in the pantheon of business business is lured into lore. Yet, it has taken a footing the bill for dangerous. Here are life of its own for a less than things that may not obvious reason. Strangely be worthwhile. Just seven popular busienough, it may survive bebecause something cause it offers unparalleled may be tax deductible ness truisms that decomfort. doesn't make it a "Comfort?" you say? smart move. serve a closer look. How could not having There are times money be consoling? If I when doing somebelieve that it takes money thing for free makes to make money and I don't have money, then sense, just don't justify doing it because it's tax I'm off the hook; home free. Why work hard, deductible. be persistent, make sacrifices, put yourself at 3. "The harder you work, the luckier you risk, or even try when the cards are stacked get." How could anyone question this idea? It against you? not only seems so obvious, but it's ingrained in In other words, if it takes money to make our culture. All that's needed is to hear it money, why waste your time trying to climb the enough times and we become believers. ladder of success when you lack what it takes to Not too long ago, insurance agents were do it? We put limits on ourselves when we per- lured into the business with a compelling enmit an idea such as this to guide us. ticement: "Work hard in the business for 20 AUGUST 2013 26 THE JOURNAL years and then the business will work hard for you for the next 20 years." Many professions offered similar lures. It sounds like a good deal: If you pay your dues, there will be a positive payoff. Of course, the reality is quite different. There's no guarantee to "get lucky" just by working hard. Today, such effort may not guarantee getting or keeping a job, having your business survive, or live comfortably in retirement. Or, to put it another way, entitlement is a myth. 4. "Look at it from 30,000 feet." Seeing the big picture is certainly helpful when it come to keeping things in perspective. At the same time, it can ignore the reality of coming faceto-face with problems. Looking at wildfire fires or a flood from the window of airplane is quite different from what someone sees who races from a home engulfed in flames, waits to be rescued from the rising waters of a raging river or is a first responder to a threatening situation. Some in business can take too much pride in being "big picture" people and do a disservice to those who don't fly quite so high. Because they fight the frontline battles, put out endless fires, correct the mistakes, satisfy customers, make things happen or all of the above, they may the best resource for solving and identifying problems. 5. "You have to believe in yourself." It's a given that it takes a certain amount of self-confidence to do well in business. But quite often, as we've all seen, self-confidence races out of control, leaving a trail of destruction in its wake. There are those who know all the answers,