Unpopular opinion: tell people about your business

[darkomind]

Why is this an unpopular opinion? The general narrative, pushed by many business gurus online, stresses the "hustle in silence, let your success make the noise".
The main arguments in favor of this narrative are:

• Telling people about your business gives you a dopamine boost which prevents you from putting the work.
• People in the script will try to drag you down to their mediocrity.
• If you brag then fail, you'll lose credibility.

In my (brief) experience as a food entrepreneur, it's been the opposite. Telling friends, colleagues, etc about my business has benefitted me. Some example of positive returns are:

• Specific advice on where to lookup information, or customers. Even my boss's boss gave me advice on some prospects to target (he just happens to live in the same city as me).
• Referrals and contacts for future collaborations.
• Sales: talking to my football teammates about my business got me some sales.

Now, I'm far from boasting on social media that I did X and Y. The "I'm starting my own business" line is simply part of normal conversations I have, followed by a honest question from my side: "Have you ever considered building something of your own?". This open interest is maybe what makes people open and supportive.

What has been your experience in telling friends, family, and connections about your business?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[kr8nt]

Why is this an unpopular opinion? The general narrative, pushed by many business gurus online, stresses the "hustle in silence, let your success make the noise".
The main arguments in favor of this narrative are:

• Telling people about your business gives you a dopamine boost which prevents you from putting the work.
• People in the script will try to drag you down to their mediocrity.
• If you brag then fail, you'll lose credibility.

In my (brief) experience as a food entrepreneur, it's been the opposite. Telling friends, colleagues, etc about my business has benefitted me. Some example of positive returns are:

• Specific advice on where to lookup information, or customers. Even my boss's boss gave me advice on some prospects to target (he just happens to live in the same city as me).
• Referrals and contacts for future collaborations.
• Sales: talking to my football teammates about my business got me some sales.

Now, I'm far from boasting on social media that I did X and Y. The "I'm starting my own business" line is simply part of normal conversations I have, followed by a honest question from my side: "Have you ever considered building something of your own?". This open interest is maybe what makes people open and supportive.

What has been your experience in telling friends, family, and connections about your business?

That is an unpopular opinion, because it's better to show your success rather than talk about it as actions have more power and influence compared to words. Another reason might be to save themselves from embarrassment in case their business fails, or simply not to waste time listening to all of the slowlane talks about it being risky, to get a job and stop playing around and etc. A lot of people are surrounded by mostly slowlane mindset people, so those that work on their businesses choose not to talk about it to simply save their time.

Most importantly, this is not the thing to focus on. What should be your primary focus is to work hard on your business and do what best fits the situation and choose the most optimal option between talking about your business or not.

The gurus make it sound like that to appeal to the younger audience and get more people to buy their courses and because that is true - Actions say more than words.

 

[Oso]

The reality is no one cares. At all. Sure, there's the incredibly slim chance someone you know (typically a boomer) knows 1-3 people that own a business, and are open to connecting you with that person. Most of the time, however, sharing your business ideas/pursuits/goals leads to wasting time in the form of people telling you you're crazy/stupid/etc.

You're attempting to discuss Chess with people who only play Checkers. And unfortunately, even if you end up being successful, unless these people can get something from you (e.g. money, time, material items, etc.), they still won't care.

Cheers.

 

[MJ DeMarco]

In my (brief) experience as a food entrepreneur, it's been the opposite. Telling friends, colleagues, etc about my business has benefitted me. Some example of positive returns are:

I think it depends on the product. If you have something that people in your social circle would avidly use, then by all means tell them.

If I was selling a protein powder and had a bunch of bodybuilder friends, I would tell them.

But your telling your older brother who hasn't seen a gym since high school, not so much.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[parabolic]

It depends on the business. Considering that you're selling food, that is pretty universal appeal since all humans eat food.

I have many associates and friends who are also my customers or who own businesses that my business works with. If they are interested in the products I sell or they own a business that would do well collaborating with mine, then of course I talk to them.

I don't talk much about my business, if at all, to my friends who aren't interested in the products I sell or who do not have a relevant business of their own.

 

[Devilery]

As others said depends on what you're building/selling, but another point is worth considering: "WHY are you telling people about your business?"

Because these people may become your customers, partners, and network that you can leverage, OR - you're doing it to boost your ego: "Look at me, I'm building a business, tell me I'm cool!"

I know I loved to tell about my business ideas because it felt good, I did or at least intended to do something cool. Now, I rarely mention anything apart from: "I'm doing alright" while I've actually progressed a lot.

Most people are not entrepreneurs anyway, so there's not much to discuss with them. I also don't need anyone to know how much or little money I'm making.

But when I do meet people in the same industry, I LOVE to share it all because it serves a purpose - we can exchange value and we might partner on projects together.

 

[Aidan04]

I think it depends on the product. If you have something that people in your social circle would avidly use, then by all means tell them.

If I was selling a protein powder and had a bunch of bodybuilder friends, I would tell them.

But your telling your older brother who hasn't seen a gym since high school, not so much.

Most definitely.

I'm getting a product into production that my friends (male college students) would love to buy, so I tell them all about my process.

My parents? They don't see the appeal.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Mikkel]

As a physical therapist, I talk to 100s if not 1000s of people each year. Every visit, I ask the same questions. "How are you doing today?" "Did you do anything intresting over the weekend?" "Do you have any plans for this upcoming weekend."

It is better than silence. Typically a patient will respond in kind, and I am honest with them. You see the same people 2-3x per week sometimes for months, you get to know them and understand their intrests.

I will usually be honest and tell them about my business, more superficially rather than the nitty gritty. Some people are more intrested in the entrepreneurial journey then others.

As a general rule, most people don't really care about my business ordeals and that is fine. I don't usually tell them to boast but simply to tell them what my weekends are looking like.

However, every once in a while I get someone who engages beyond the superficial and sometimes they provide some incredible value.

I still have coffee with some of my old patients even after then have been discharged from PT.

Not everyone will care, but how will you find others in your community that actually care unless you put the topic out into the open.(Yes, you can go to your local chamber of commerce, but not everyone goes).

I am lucky, I haven't had anyone try and pull me down. Maybe that is unique to me, who knows, maybe it's because they know I can cause them pain "by accident."

 

[Andy Black]

I talk and write about what I think and do. It's how I get business.

I also recommend people starting out consider telling their friends and family what they're doing too. Not to get them to become clients or customers, but to allow them to refer you to people who might benefit from your product or services or who might be able to help you. Obviously don't tell people who will react negatively, but you'll be surprised how many people can help if they know what you're up to.

As they say, no-one will give you a job but everyone will give you advice.

 

[Kak]

I'm in the it doesn't matter camp.

Random people don't need to know what I do, and I can simplify it down really far and most people still think I'm bragging. As somone who rather dislikes braggarts and definitely doesnt want to be one, I just generally ask about them if I am trying to be nice... Or say nothing if I'm not.

Asking about them is funny because it shows how little they care about your business anyway. It almost never comes up.

It should be noted that the chance of a random person I am in conversation with being able to positively change anything for my business is very near zero.

Unless of course I am at a chemical trade show... Meh. You know what kind of person needs YOU to know all about their "business?" MLMers. Realtors. Low rent money managers. Insurance salesmen. General scams.

If the CEO talking one on one with random people is a necessary part of your business development model, you aren't thinking big enough.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Johnny boy]

Get out of the habit of talking too much because you’ll talk to yourself and convince yourself you’ve done shit you haven’t.

Guilty.

It depends what kind of person you are.

I know myself and I need to just stfu and put in the work.

Talking will get you plenty of connections but if you don’t need connections and you just need to put in some work then zip it and get to work.