5 reasons to persevere through start-up obstacles

They said it was going to be hard. But you had no idea it would be this hard. Exhaustion, a poor diet, a parade of ‘no’s and disappointments. Plus mentors and advisers, including me, listing reasons to pack it in. It isn't easy to maintain your enthusiasm and energy in the face of all that.

So when should you not shutter your start-up?

The only thing I hate to see more than good people burning cycles on lost causes is to see good people giving up too early on good ideas when in reality the opportunity was far more promising than they could see from their trendy co-located office loft.

Persevere

So when are the discouraging obstacles not an apocalyptic sign, but simply short-term hurdles, perhaps requiring just a bit more effort and diligence? Here are just a few clues that it’s time to stick it out and renew the energy and resources to continue:

1.      Required capital was initially under-estimated (this is common) but doors are still open to you for additional resources, even if from friends and family.  You may be reticent to ask again, and that's a fair concern... and indicative that you are being wise with investors' trust and money. Still, it is your responsibility to manage your enterprise wisely and to sell your vision. But never confuse your very real fiscal responsibility with imagined guilt of the risk both you and investors are taking together.

2.      You’ve not yet introduced your MVP (minimally viable product)... but it is because you’ve made a valid pivot from the original plan. If the delay from these pivots are based on honest and useful customer feedback, the delays are valid and a good reason for asking for more runway. 

3.      Your reasons for delays and obstacles are not excuses. There’s a difference between a problem you cannot control and therefore must accept and overcome, versus a crisis you created or could have changed but chose to ignore.

4.      The market gap that your product/service is intended to fill is still not being adequately filled by established competitors. As long as it will fill a genuine need in the market (presuming you’ve done that diligence) then there is still an opportunity to be exploited.

5.      You can identify all the voices telling you that you cannot do it - because they all sound remarkably like you. They are all inside your own head. Take a step back and look at yourself in the third person. Is the negativity you are hearing from yourself the same you’d tell someone in your identical position? Or would you be kinder, more encouraging while still realistic? 

Like my earlier post giving you good reasons to shut the doors, there are no hard and fast rules, and of course, any one of these are not a guarantee of a successful start-up deserving your continued effort. But just as it is unwise to continue to pursue a start-up out of obligation, it is unwise to make a permanent decision about shuttering it without taking a moment to review the real reasons for your current discouragement.

Few if any start-up situations ever meet ideal expectations. But with a deep breath and a little introspection, you might find that the reality of the situation is far from desperate. 

5 reasons to shutter your start-up.

There's no lack of enthusiastic blogs, posters, and gurus out there encouraging you to follow your dreams and strike out on your own. So I am aware that my contrarian posts can be a real downer, as I’ve written several posts that discourage potential start-ups from, well, starting up, including the fallacy of expecting a ‘better’ product to succeed, or the idea that you should chase your dreams.

But there are great ideas that deserve your attention and enthusiasm. Yet once you’ve already sunk your heart and soul and 401K into your business, when is negative thinking just ‘nattering nabobs of negativity’, and when does it become a warning that something is wrong and you need to get out? After all, the sage tells us that ‘everything is temporary given enough time’, and we all know that even expected obstacles cost more and take longer to overcome than ever often predicted.

So when is enough enough? There are a few clues that it’s time to recognize that it’s time to close the doors:

1. You, yourself, are exhausted and cannot continue to infuse your discouraged team with requisite energy to soldier on through the current circumstances.
2. Resources are spent. This seems obvious, but resources are never really ‘gone’, just harder to raise - but if you are spending more time raising funds instead of selling an MVP (minimally viable product), you are on a slippery slope.
3. You’ve made little progress in overcoming objections from potential users either in fact or positioning.
4. You’ve missed initial, and extended, deadlines and milestones.
5. The market gap that the product/service needed to have filled is beginning to be adequately filled by established competitors.

There are no hard and fast rules, and any one of these are not indicative of a start-up needing to be shuttered. But any two or more create an uphill battle that takes the joy, enthusiasm, and health and finances of founders down with it.

Unless your start-up is a cruise line, there’s no glory in going down with the ship. 

Should your start-up consider a convertible debt deal?

Recently a new friend and prospective client asked me about a financing opportunity that had been presented to his bootstrapped start-up. He asked me the advisability of accepting a convertible debt offer versus straight equity financing. The answer I provided was general, as the question was general, and because I was not familiar with his company's valuations or deal specifics. I am familiar, however, through my experiences with other clients and mentees, and through teaching a small business course, with the options.

Fortunately, my friend’s question was whether or not he should even consider a convertible debt deal, not advice on whether he should actually take it. (That took the pressure off of me.) I assured him that it was in fact a common practice for a firm at their level of maturity and it was likely to be a more favorable solution for them. This wasn’t financial advice (I’m a marketing guy, after all) but I thought I’d share my reasoning more broadly.

Firstly, however, let’s define our terms.

Equity financing is financing by issuing shares of the company. While rumored to be the simpler of the two approaches, at least for mathematics challenged types such as myself, in fact the tricky part for early stage start-ups is determining the valuation of the company. There are as many approaches to this as there are founders and investors (and stages of growth), but through several formulations and more than a little guesswork, ultimately the company value is “simply” the figure investors and founders agree that it is.  Post-investment value is just the pre-investment value plus the investment. It can all contained within simple t-chart accounting.

Convertible debt is borrowing money where your intention, and that of the investor, is not to pay back the loan with interest as in a typical loan, but to convert the debt to equity in the company at a discount (typically 20%). The terms, timeframe, discount, any valuation caps, are all negotiable, and vary widely. The debt also has an option to be paid prior to maturity with an outright cash payment should circumstances change.

So which is better?

To quote my old graduate B-law professor, “it depends” (such was his answer for most hypotheticals).

A main advantage for equity financing is that it doesn’t require repayment like debt would, and is a simple calculation - assuming you can settle on an acceptable valuation. Disadvantages include the need to determine valuation (difficult for young companies) and a loss of some management control.

Convertible debt, alternatively, does not need to have a valuation upfront (it converts based on a valuation from a subsequent round of investment when presumably valuations are easier to calculate) but will need to be repaid, like debt does.  While interest will not (usually) need to be paid in cash each month, there is a limited timeframe before it needs to be repaid, or convert automatically into equity at previously agreed terms. If the latter option isn’t part of the agreement, the repayment requirement can lead to unintended fire sales forced by holders of the debt. Still, as most founders believe their start-up will be worth more at a later date, this approach will result in less dilution, by issuing debt and leaving the valuation flexible in order to meet the requirements of the company and those of later investors. I also understand that this is a faster and cheaper transaction when compared to the legal paperwork of an equity play.

In the end, I recommended he welcome a discussion of convertible debt. But I hope he (and you, dear reader), remember this fine print: I’m a marketing guy. I’ve been brief here, and your circumstances will vary from your neighbor’s start-up, and even change as your company matures. Each company and each stage of growth requires a different type of financing. Ask a professional. Whatever you decide, try to limit the dilution, retain majority voting rights, and use your brain, but leave your ego at the door.

(Finance guys who want to clarify any points in this post are asked to comment.)

The 5 Most Important Marketing Spends for a Start-up

As I work with a number of start-up companies, I am often approached by these hungry entrepreneurs (and their investors) to help execute a demand generation campaign,largely in the 'lean marketing' or 'growth hacking' mode. However, there are a number of prerequisites I demand of prospective clients at early-stage start-ups. These prerequisites are fully marketing activities, but also have cross-functional utility because it helps young companies get a sense for themselves before promoting themselves to the outside.

1. Market and competitive research

Useful to finance, sales, and product development, gaining a full understanding of the industries and individuals (personas) that are in the target market is critical. Young companies should know their customers as well if not better than they know their own product or solution. The same goes for the competition – there is always competition, even where the product, niche, or industry is brand new.

2. Positioning strategy

The world of marketing is ruled by Venn Diagrams. Understand the similarities, differences, Unique Selling Proposition, potential black holes and growth opportunities in your market. Know the desired customer behavior and how slow or rapid adoption would reshape the market and your own assumptions.

3. Go to market planning

Plan the routes to market and go to market strategy for each channel; direct sales, online, partner, etcetera. I am always surprised at the number of companies (even large ones) seeking to promote their solution before they even fully understand how they will sell and fulfill orders. Really.

4. Branding and identity

In spite of the myriad number of self-proclaimed designers and fiverr designs out on the market, leveraging the knowledge and experience of a professional designer is critical to bring the above three investments to the public. A designer that understands your market, what you are trying to achieve, the emotional bond you want to create in a customer, how colors, typefaces, and imagery interact. Great marketing is easily undermined by an identity that doesn’t reflect the marketing message.

5. Inbound/content marketing strategy

Finally, the first stage, 'growth hacking' promotional, demand generation actions begin with the foundations of the content management strategy that drives initial value and interest among your target publics. As content management takes some time to spin up, this should be initiated as early as possible, and ideally prior to product release, in order to drive demand upon release.

Once these five prerequisites are established, then, and only then, should any shorter-term aggressive promotional lead generation activity be undertaken. Excepting perhaps the days of being featured on Oprah’s Favorite Things, there are no shortcuts to effective marketing and sustainable lead generation for a start-up, or for any established company.

Leaving the nest

One of the greatest opportunities for a young start-up is to find itself in the feathered nest of a larger firm with whom they’ve partnered. Often these start-ups are services providers for enterprise software, VARs or ISVs; or offer integral technology, new applications, or differentiating product ingredients. The leads from the partner organization are plentiful and the protection strong, and this warm partner nest is an ideal place to find the needed runway and references for a start-up.  

As young start-ups mature however, they often find themselves as overshadowed as they are emboldened by the larger firms with whom they partner.

Therefore it is critical that even while enjoying the partner’s nest, these companies begin to direct their own destinies to grow broader than their current dependencies on their larger partner companies. To accomplish this, they must leverage branding to elevate themselves into an independent and more credible visibility to their industry.

Differentiating and identifying the unique value the smaller organization offers customers of the larger company’s product is the main function of branding for a young company in this type of mutually beneficial relationship. It establishes market credibility for later product extension, product introduction, and establishes a distinct market value helpful for investment, merger and acquisition.

Simply being able to walk through a branding exercise and begin to articulate the unique value provided allows a young company to strategize their growth. As the branding is then communicated out to the marketplace through content marketing, event sponsorship, public relations, or myriad other tools, this strategy begins to identify potential customer personas, inform product and investment decisions, and  that free it from the decisions and whims of their larger partner.

Strategy180 understands that in the cacophony of demands from operations, finance, engineering, and sales, longer term strategy often takes a back seat. Yet it is important that the longer term vision and goals of the organization are tended to with as much attention, or the short term fight for ideal position within a large organization’s nest may soon prevent a young start-up from ever having the option to leave it. 

Your dream is a sunk cost: Facing reality with your start-up

This article from the New York Times underscores a point I've made to unemployed friends, my college students, even in articles a few years ago for the Dallas Morning News, and I've alluded to it in this blog, here.

Treat your dream to build a business as a sunk cost.

Feel good Successories posters and legions of Twitter career coaches would have you think otherwise. They've no skin in the game. Of course they're going to tell you to 'go for it'. They aren't investing their savings, their time, their energy.

A sunk cost is a cost that is irretrievably lost. Business professors tell us to ignore them when making go-forward decisions. Any entrepreneur, hell, any gambling addict will tell you that it's hard to do. One more sale, one more roll of the dice, and it's all alright again. But it's not real. Your dream is a sunk cost. No getting it back - that is, it's there, it's been imagined, it exists. No turning back on having the idea. The 'one day'. It's a yearning, and therefore a drain on your energy, but not yet your wallet, or your family. Turn your back on it. Because everything that follows is not, not yet anyway, a sunk cost.

Now, hopefully this allows you a bit more objectivity. Every additional moment you put toward this dream is a sunk cost. An opportunity cost. At some point you invest in research and site location reports, engineering drawings or trips to see investors or check out competitors. Sunk costs of time, energy, initial but modest expense. But you still have money in the bank and a steady job.

The dream, the drawings, the unsigned lease agreement, a logo, and business cards. Sunk costs.


Now the question is, IGNORING your sunk costs, ignoring the biggest sunk cost, that is, IGNORING the fact that this design/store/studio/idea is 'your dream', are you ready to move forward?

Really?

Because if you are really ignoring the 'sunk cost' of this emotionally compelling dream of telling your boss to f- off and instead go it alone, then you need to be able to tell yourself this: That you are sufficiently distanced from this dream such that even if this was someone else's dream, you'd still invest this level of energy and money into it.

Because in the end, dreams aren't real. Sunk costs, on the other hand, are real. And bankruptcy, particularly self-inflicted bankruptcy, is a nightmare.

Okay, still? Great. Dream's over. Wake up and get to work.

Fast and cheap and unsuccessful

New entrepreneurs. Committed to a diet of macaroni, peanut butter and cases of Mountain Dew for late night 'ideation' sessions. They tell me they're going to be better... because they're faster and cheaper. 

Copying what has been done before in a way that is faster or cheaper is a formula for long-term failure.

Faster and cheaper is not better. Better is better.  

Instead, the success formula is a disruption - a new way to look at things, a new way to define your market. Faster and cheaper is a natural order of established markets, so start-ups dedicated to this proposition will be overrun. Even if you go 'all-in', spend all the angel's money, live a life of sleep-deprived sacrifice to build the mousetrap, there is no guarantee of success if all you are chasing is a faster or cheaper way to do an old thing. Faster and cheaper are only useful long-term when they are outgrowths of the new and differentiated.

If all your new idea offers is a faster or cheaper way to do an old thing, think again.  

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I'd rather fight than switch.

Like the BBD&O Tareyton cigarette ads of years past illustrated ("Us Tareyton smokers would rather fight than switch"), most companies rely on brand loyalty to drive sales of their products among loyalists. Investing in initiatives to build this loyalty is the most effective means of creating easy recurring revenue and lowering costs while gaining share. Yet every day, consumers do change their habits - sometimes temporarily in response to a low price, sometimes permanently when a new product is proven superior. The objective for new product managers is to encourage first use - the first trial of a product among target consumers - in order to create a wedge between their buying preferences (or habits) and a new alternative.

CPG (Consumer Packaged Goods) manufacturers are particularly involved in a this daily battle, often times a battle between brand managers in the same company (P&G, for example, regarding dish soap).

In a new report from the Grocery Manufacturers Association (GMA), Booz & Co. and SheSpeaks, Shopper Marketing 3.0: Unleashing the Next Wave of Value, the authors state three critical weaknesses in the current battle brand strategies - all carry a similar theme, that is, too much concern regarding out-of-store promotion and a disregard for where 59% of purchase decisions are made - in store (pricing, shelf placement, and product packaging). While in-store promotion, pricing and packaging isn't sexy, it is effective. Marketers are often easily distracted by the excitement of promotional activity and the dynamics of mass-market tools, clever use of new media, and the like, but as I've stated before, the marketing function should be, arguably, less than 25% promotion. This report underscores that for CPG - but it can apply to B2B as well - that price, product and placement are very critical factors, particularly the latter when in-store displays, packaging, and 'shelf talkers' (shelf signage) are so very influential to shoppers - 77% of whom do not shop with a list, much less carry a hardened loyalty to a specific brand.

For me, once again this is a reminder that the critical value of marketing lies outside the clever graphics and innovative viral games. While still important, it is actually the pricing, product positioning, and placement that combined with promotion makes the needle move. Marketing must embrace more than promotion - and then measure and use analytic tools if they are ever going to be seen as equal professionals in the boardroom.

And that's a switch worth the fight.

Of Babies and Bathwater

This blog post, ‘Fire Your PR Agency’ by Jason Calacanis, founder and CEO of Mahalo, was sent to me by a client and I thought it’d blog well, so I’ve taken what was to be my email response and posted it here.

I agree that you can, conceivably, do PR yourself. But I think the value in the article is more useful if titled “How to support your PR firm’s efforts”. Better to keep the baby and change the bathwater, as it were. Jason is a natural press agent himself even if he doesn’t own up to it - so PR comes easily, naturally to him… and what he is suggesting requires a completely different set of skills than most entrepreneurs have and therefore they do require the support of a quality PR outfit.

I know plenty of PR firms, however, that can do more harm than good. In fact, I can provide a list. I’ve hired and fired several. Often because my colleagues and I were their lone source of ideas, which flies in the face of what Jason is suggesting, as he thinks this is a good plan. I don’t. While I appreciated the recognition that I was, in fact, brilliant, I’d have liked to have other ideas heard as well. It gets lonely when the only voice you hear is your own. This is not the same as providing your PR firm with information, resources, and access, which is critical and as this blog goes on to recommend. It is a partnership between client and agency.

Still, although I believe his premise – that you can do this yourself – is flawed, he makes some excellent points:

1. Be the Brand: It is easy for Jason to say this, he is his brand. This is useful if the leadership is savvy, well-spoken and political, or at least enthusiastic. Not every CEO is, and in fact, it is sometimes dangerous for firms to become too attached to their founder as it limits later growth, flexibility and potential M&A activity.

2. Be everywhere: This is simply blocking and tackling for start-ups. Too many engineer types think their better mousetrap will drive people to their door. Well, for that I have one word: Betamax.

3. Always pick up the check: The most important point Jason makes in the entire blog post is here: “If you're not a social person, learn to be, because it's your job if you're at a startup company.” See my comment above, #1.

4. Pitching as Jason uses it here is a euphemism for selling. The best PR opportunities aren’t ‘sold’, just like few of the best products are actually ‘sold’. That’s just PR 101. But I know that too few PR types have graduated that class, and others, while aware of it, are pressured by their clients or bosses to do just that. Sell, sell, sell. Ink, ink, ink. I once had a PR agency drop a couple of three ring binders on the conference table to indicate the amount of press they generated for a similar firm. Leafing through it, it amounted to page after page of one paragraph reprints of press releases. And this was a nationally recognized PR firm. Oddly, scrolling to the end of his post, Jason comments to measure press by the pound. Bullsh*t. You can’t blog about targeting appropriately and suggest measuring success by the pound in the same post. That’s oxymoronic.

5. The critical comment in point #5? “Spend just 30 minutes researching the journalist you're pitching.” PR folks can be lazy. Hire ones who aren’t.

6. His point #6 essentially states to make certain the client, not the agency, has the journalist relationship. Actually, both is important, but once again, good common sense is so rare it bears repeating.

7. Number 7’s key takeaway: “Your job as a subject is to say things concisely and with few words.” Not a reason to fire a PR agency. A good reason to have one, even if they only act as editors.

8. Invite people to "swing by" your office. Of course. Journalists are supposed to become your friends. Invite your friends for a visit. Remember what we learned in Kindergarten: To have a friend, be a friend.

9. Attach your brand to a movement - absolutely. But this works only if the environment allows for it. Generally good business advice, but certainly not a reason to fire a PR firm. A good PR firm can find opportunities to do just that.

10. Embrace small media outlets. Again, PR 101.

Further, don’t mistake media relations (making certain you are visible, acting as a resource for reporters, etceteras) for public relations. The former is easier and often used by weak PR firms as an indication of progress. It isn’t. Media relations is a tool, not an objective. Also, regarding hiring PR firms: The key is in the evaluation, and in the evaluation, the key is the people. Make certain it isn’t the A team selling the agency and the B team doing the work. Know who is on the account and their backgrounds, and hold them to their commitments. They need to be savvy, connected, creative, inventive. This needs to be determined upfront, because success or failure in PR can only be measured on the back end.

“Houston, we have a problem.”

All that planning, all that preparation, the harried last minute changes. The product launch ‘event’.

Then, whew, it’s over. Watch it sail forth like a balloon released in the park, bidding the new product a farewell with little consideration of where – how – when – it lands.

Product launches are critical, and by and large there is a critical date or time attached to the launch, the GA (general availability), the press tour, the cocktail party, the trade show demo. All this requires planning, preparation, and harried last minutes adjustments to the plan. But then what?

Without proper consideration of the next steps, the product is just as likely to fade as that balloon will drift to the ground. A product launch is not the end to itself, but rather should be treated not as balloons but like launches of space craft, the start of greater exploration and understanding of the world around it. Product refinements are determined, distribution strategies adjust, the environment changes.

Or not.

Your launch can resemble a balloon release, a faint effort without consideration for the direction the winds may take it, hoping as we do that the winds will be favorable and our carefully planned launch will result in organic interest.

Treat your launches like a rocket, with the fanfare and resources required not only to capture the imagination, but with a longer term plan in mind for long-term revenue contribution, expanding market share, and to continue to address the problem it was created to solve.

That requires an additional step, but offers a giant leap in the promise a new product can have on the bottom line.

Know thyself

"The essence of leadership today is to make sure that the organization knows itself." -- Mort Meyerson

This statement by Perot confidant and former EDS Chief Executive Mort Meyerson is my advice for you in 2008. Not far from the platitudes “Know thyself” and “To thine own self be true”, Meyerson’s statement emphasizes the importance of a widely understood, and closely followed corporate Vision that drives a firm’s mission, principles, and strategic direction. An organization that knows itself knows how to spot opportunities, navigate troubled waters, and work together toward common goals. For individuals, it helps define roles and responsibilities, establishes their individual value to the organization, and builds the foundation for empowerment in decision-making.

To thine own company should each employee be true.

A pie in the Facebook

Like so much in marketing communications, particularly events and public relations, it is often hard to see good efforts working. But you sure know bad efforts when you see them.

Specific to PR, with their widely publicized Beacon debacle, add the golden boys at Facebook to the legions of bad PR episodes, now along side the fake blogging shills for Wal-Mart, promotions for Cartoon Network, executives at Enron, and on-going messes for the Red Cross and FEMA.

Sayeth Josh Quittner at no less a source than Fortune: "What’s harming Facebook - perhaps to a terminal degree - is enormously bad PR. For a social media company, these folks don’t understand the first thing about communication; they have alienated the press by being arrogant, aloof and dishonest. " And still more from CNET: "The big question for users is whether there is anything Facebook can do to regain their trust."

I can't always define bad PR, but I know it when I see it.

The Mouse That Roared

I was recently speaking with a friend who found himself in near panic as he looked around and saw his four employees hunkered down, planning the next great score, mastering the next great presentation, closing the next big deal.

He panicked because he had just received 'the call'. Megamega Company was moving into his market space. All was lost. Or was it? How could he compete when a larger firm was moving quickly into his territory, now finally seeing the opportunity in what they once dismissed as 'crumbs'? As we talked, five key themes emerged:

First, he needs to change his mind, and those of his team.

The competitor can talk big, but he can talk 'niche'. They can talk resources, he can talk service. Every negative a positive, every obstacle an opportunity.

Second, don't mistake the competition as the target.

As much as he needs to make his negatives into positives, it is more important to make certain he can deliver on the real needs of the customer. He mustn't focus on the competition, instead learn the sweet spot that will address the majority of the customer requirements, and then additionally convince them that they need something only he is selling. Don't sell against the competitor, sell the customer toward a solution.

Third, learn to love Inspector Gadget.

Technology is an area that levels the playing field, and in fact often tilts it in his favor because it is far easier for small companies to deploy new technologies than for larger established firms that are, like legacy telecommunications carriers, burdened with the sunk costs of legacy technologies or are required to resolve ROI in months - harder when deployment is made across thousands of employees. He needs to apply technology to create competitive advantage, lower response times, provide data faster and more accurately to his customers. He isn't small, he's nimble.

Fourth, sell. Simply fill that funnel. Do not let one opportunity define a quarter. I knew a salesperson who, with the blessing of his bosses, spent the better part of a year chasing a single Big Fish like some Ahab manaically pursuing Moby Dick. Ultimately, the story ended the same. He needs to be able to create his own luck, seek out new opportunities, so that he can choose the battles he is most likely to win.

Finally, he needs to remain singularly driven on the vision and mission of his company. Every business needs to follow a vision of what they will be in 1, 5, 10 years. This will help him keep his eye on the prize, choosing the right strategies and investing in the right tactics to get him there.

It's not the end. The entry of a big player into a nacsent market legitimizes the offering for all, and the small players, like my friend's company, still benefit from first-mover advantage.

The ying and the yang

I hear all the time that if the customer were simply a, well-informed, and b, rational, a sale would be easy. Well, I'm here to tell you that these represent the two ways to make the sale, and both can be leveraged through effective marketing communication.

If your offering is indeed the smart choice for your customer, then by all means, help your customer get smarter. Educative sales, or consultative sales are effective in this vein, where your marketing communications are targeted toward speaking opportunities, bylines, blogs, and high-profile media relations efforts. This appeals to the educated, rational value buyer. Yer all rational buuyers have a streak of irrationality, so...

If your offer requires a change in impression, assumption, habit; or if you need to compete not on utility and value but on fashion and emotion (irrational) then by all means appeal to the emotions of the buyer - even in a business to business space - to drive out considerations on a strictly formal qualitative form. "Nobody ever got fired by buying IBM" isn't a commonly understood mantra because itt is rational, it is the result of the emotion of fear on the part of the buyer. Tap into fear, lust, comfort, or any of the other 14 or so emotional triggers and fill a need - albeit an emotional one.

Embrace the rational and irrational buying signals as opportunities, not barriers.