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Empathy And Profits by TavershimaAyede(m): 12:38pm On Aug 16, 2022
There’s a lot of talk over the airwaves about how important empathy is to running a successful business.

Is this just buzz-talk or is there something substantial here?

Is empathy important during a sales conversation with a potential client?

And what is empathy anyway?

It’s the ability to understand and share in the feeling of another.

What does this have to do with business and selling?

If you understand the feelings of another, you come across as more relatable and like-able.

This is one of those paradoxes where paying attention to other people’s needs makes it easier for you to achieve your own goals. If people find you more relatable then it’s easier for them to get into a business relationship with you.

Empathy also makes you more effective. This is because if you’re able to suss out what’s really on the other person’s mind and what their REAL interests, values and goals are, then you’ll be able to tailor your pitch or business solution to meet their most acutely felt needs.

If your product or service “hits the spot” with them, then the chances of having an enhanced “customer service” or “user experience” goes up.

When this is high, it increases the chances of people coming back for repeat business, and referring you to other people for the same super experience with you and your service.

So being empathetic can bring more revenue through the front door, as well as keep those revenue streams flowing around your coffers.

So given that this can be a useful skill to have, do we have to employ empathy in every single business situation?

Do we have to be Little Miss Congeniality all the time?

It depends on what kind of sales or business context that you’re in!

If you’re involved in a SIMPLE SALES SITUATION where you sell commodities like egusi, then empathy isn’t important.

You can “turn on” the empathy in the commodity businesses if you want to make someone your repeat customer, but ultimately the main question for the sale of egusi or sesame seed is “do you want to buy or not?”

Is the price right or not?

Is the quality right or not?

Commodity traders have no problem buying from you today and someone else tomorrow if the price and the quality is right. It’s nothing personal here, it’s just business.

In fact the commodity buyer knows that this kind of behavior will force you all in the market to play your prices off each other which is exactly what they want! The lowest possible price.

If you’re selling a complex product or service like accounting services, wedding planning, inverter batteries and alternative power solutions, then empathy is important to drive the conversation forward.

Most people won’t spend #800,000 to buy inverter batteries if they think the engineer is a jerk. The assumption is that the business owner/ engineer jerk will try to screw you over in the future.

In fact that might not be the case. The jerk might actually be the most honest and ethical person you’ve spoken to so far, but the lack of empathy leaves some nagging questions at the back of your mind.

The stakes are also important to consider!

If you want the best brain surgeon to save your spouses life, you’ll be willing to tolerate the fact that the doctor isn’t relatable and empathetic.

You probably won’t go to the nicer doctor who is less qualified when your life is on the line.

So in general empathy is a useful skill to have, but if you’re grumpy and you just want to be left alone to count your money, don’t worry, there are business scenarios in which your grumpy, stuffy outlook will work just fine.

For everybody else however, bringing empathy to the boardroom or the marketplace should work better for you over time.

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