Employee Attraction and Retention and How to Become the Employer of Choice in Your Industry

0:00 The topics and opinions expressed in the following show are solely those of the hosts and their guests and not those of W FOURCY Radio. It's employees are affiliates. We make no recommendations or endorsements for radio show programs, services, or products mentioned on air or on our web. No liability explicitor implies shall be extended to W FOURCY Radio or its employees are affiliates. Any questions or comments should be directed to those show hosts. Thank you for choosing W FOURCY Radio. Welcome to Powerful Business Strategies, where you will find out that everything you have ever learned about growing your business is wrong. Finally, a show where you'll learn the right way to grow your business by learning business and financial strategies that your competition isn't doing. And now here's your host.

0:47 Resident of Next Step CFO Michael Barbarita and joining Michael for today's show as an executive moderator is chooky obia. Yes, this is shookey, and I believe that gratitude is undefeated and growth is about. The next step. It is an honor for me to moderate. Today's discussion with my good friend Michael. Michael, how are you good? How are you Chicky? And Chicky? I want to first on hunder all of our veterans today and thank them for their service. You know, we are the land of the free because of the brave, and so a shout out to all the brave men and women who have served. Absolutely I comprehensively concur with that word of gratitude to our veterans and Michael, just a quick disclaimer before we get started. So, by the way today's episode, folks, we had a record breaking audience in our last episode and today's episode it's titled Employee Attraction and Retention and how to become the Employer of Choice in your industry. This is in hot I demand the nature of today's topic, but quick kind of disclaimed. Michael and I are both affiliated with a number of different organizations and I currently serve as the managing director of business Development for Vetter Price, a global business focused law firm. In addition to that,

2:17 it's truly an honor to collaborate with Michael to moderate business roundtables coast to coast small business owners medium sized business owners to document those insights in how they grow and manage their business. And we call this Powerful Business Strategies Roundtable. We also have a Powerful Business Strategies book. But please note that the views expressed in today's show our personal views based on experience and successful experiences. To be even more specific. Now, my mission as a fearless moderator is to ask the right questions to help you, the listener, learn the best that the competition isn't doing.

3:03 So without I'll toss it back over to Michael. Thank you, Thank you, Cherkey. Well, I got to tell you I am fired up for today's show because we're tackling head, tackling the elephant in the room, the number one problem that I hear from business owners across every industry, and that's finding and keeping great employees. And so last week I was sitting with a client, let's call him Tom. He runs a successful construction company. And Tom looked at me with pure frustration and said, Michael, I've tried everything. I've raised wages, offered better benefits, but I still can't find good people. Is there even any good talent left out there? And maybe you're all all the business owners out there are feeling the same way. Maybe you've posted job after job, conducted interview after interview, only to end up hiring someone who leaves after three months, or worse yet, maybe you've had to turn down business because you just don't have the staff to handle it. Well, I got news for you. Everything that, and I mean everything you've ever learned about attracting and retaining employees is wrong, and I can prove that to you today. Did you know that right now in your market, there's probably a competitor who has a waiting list of people wanting to work for them, same market, same laborpool, completely different results. Today, I'm going to show you exactly how they do it.

4:27 And remember how we've talked about using a position of market dominance to attract customers. I mean we have, Yeah, we have a total show show on that, and we've expressed it in a couple of other of our shows. Well, what if I told you that that strategy, that same strategy, the same exact framework, can be used to become the employer of choice in your industry, not just another place to work, but the place to work. So over the next forty minutes, I'm going to share specific strategies that have helped companies transform their businesses from being desperate for employees to having their pick of the linen, their pick of top talent. And the best part. This works in every industry for construction and retail, from professional services to restaurants.

5:14 And I'll show you how a business went from ninety percent annual turnover that means they were replacing almost their entire staff every year to having ninety two percent retention. Think about that. What would that mean for your business? No more constant hiring, no more training new people over and over, no more turning down business because you're short staff. So grab a pen and paper, because I'm about to share strategies that will completely change how you think about attracting and keeping great employees. And if you're driving, don't worry about it. You can cast this episode again on our podcast at Powerful Business Strategies dot com. So if you're just joining us, we're talking about how to become the employer of choice in your industry and is to show you exactly how to do it. So let me tell you about Tom, Like that construction company owner I mentioned earlier. When I first met Tom, he was paying three dollars more per hour than his competitors. He offered health insurance of four to one, paid vacation all this stuff and beyond, and he was still losing people fast that they could hire them. So know what, Tom, So here's what Tom said. He said to me. He said, Michael, I don't get it more. Yeah, I'm paying more than anyone else in town. What else can I possibly do?

6:38 I have the benefits? And that right there, I think is the first mistake that most business owners make. They think it's all about the money. Well, let me share something that might shock you. We did a study, and there are many many other studies that have been done of people who left their jobs in the last year, and of course, salary ranked fifth, you know, as the list of reasons for leaving, that's fifth place. And here's even something more fascinating. When we asked them why they chose their new employer, salary ranked even lower. It was sixth. So now I can hear some of you out there say, you know, come on, Michael, people say it's not about the money, but we know it is. Well, let me prove it that in a real example. So there is this plumbing company in a market where everyone was fighting for exceptional experienced plumbers. Particular company was offering seventy five grand a year full benefits company ban the Works couldn't keep their competitor down the street is offering sixty five thousand, and they had a waiting list of applicants. Say, market will this completely different results? And so I want to know what that competitor was doing differently. Well, yeah, they.

8:00 Michael, I mean, look you you got us all of this. Man, Well they had. They created what they called a master plumber career path. Every new hire, Yeah to the l angle here. Every new hire got a clear written road map showing exactly how they how they could grow from entry level to master plumber, including all the training, certifications and salary increases along the way. But here's where it gets interesting. They didn't stop there. They created what he called the knowledge bank system. Every senior plumber in the company was paid extra to create training videos, sharing their expertise. These videos became a library that every employee could access twenty four to seven from their phone. So think about that. Think about what it meant for a young plumber. Instead of just getting a job, they were getting in the education. And instead of just earning a paycheck, they were building a career. And instead of just being another employee, they were becoming part of a learning community.

9:09 The ultimate results were is they had turnover dropped to less than five percent per year, their average employee tenure went from eighteen months to over six years. And here's what's really fascinating, Their customer satisfaction scores went through the roof. Why because happy, well trained employees do better work. So now let me show you the second major mistake businesses make when it comes to employees. They create job postings that look exactly like everyone else's. Oh yeah, yeah, it's amazing. If you went to a deed indeed dot com and look up job postings in your industry, you'll see the following phrases in all likelihood seeking hard working individual, yeah, competitive pay yep, great benefits, must be real, liable. It's all that same generic nonsense. It's it's what I call employment jargon. Remember how we talked about marketing jargon and previous shows, Yeah, I hope so marketing. Well, this is I hope so advertising to employees. It's the same thing just for hiring. And let me show you what happened when that plumbing company rewrote their job posting. So instead of the usual boring list of requirements, they started out with this want to become a master plumber of a tie of employers who promised training and never deliver. We're

10:39 the only plumbing company in the region with a documented career path and over three hundred dollars of recorded training from master plumbers with thirty plus years of experience. Wow, take a note of that. The one to become a master plumber, a tie of employers who promise training and never deliver. That's the problem the employee has that doesn't want and the unique solution to that problem, those plumbers unique solution to that problem is really only plumbing company in the region with a documented career path in over three hundred hours of recorded training from master plumbers with thirty plus years of experience. Ladies and gentlemen. That is an example of a position of market dominance to be the employer of choice. And so, yeah, and applications increased by five hundred percent of the first month. But here's what's really powerful. The quality of the applicants went up too.

11:35 Why because yeah, we were they were attracting people who wanted to grow, not just people who needed a job. And so the third mistake, and this is a big one, is treating hiring like a transaction instead of building an employment brand. You see, most businesses only think about hiring when they need someone. That's like only you know, marketing your business when you're desperate for sales. That doesn't work. It's just there's no planning involved. There, there's no thought. But let me show you what a company, what building an employee brand looks like. So this company created what they call the always recruiting system, and here's how it works.

12:24 Number one, they had monthly open houses where people can learn about careers and plumbing. Second, they had partnerships with local trade schools. Third they did they have separate YouTube channel sharing knowledge and expertise. Fourth, they had regular features on their best employees, and five community involvement showcasing their team. And they became known as the place to work if you wanted a career in plumbing. And here's what's fascinating. Their recruiting costs dropped to nearly zero because they had a constant stream of referrals from their current employees. But remember this, and this is crucial. None of this works unless it's real. You can't just market yourself as a great place to work. You have to actually be a great place to work. And that's where most businesses get it wrong. They try to solve their hiring problems with marketing and when they should be solving these problems with substance.

13:30 So before I continue this discussion, we are going to take a ninety second break. Hey, their business owners, let me ask you something. Are you tied of blending in with your competitors? Frustrated with slow growth and slim margins? Well, I've got news for you. Everything you've ever learned about growing your business is wrong. But don't worry. I'm here to let you in on a secret weapon, your position of market dominance. It's what sets you apart, makes you irreplaceable, and has customers lining up at your door. My name is Michael Barberrita from Next Step CFO. I know what you're thinking. Sounds great, Michael, But how do I find my position of market dominance? Well, that's exactly why we've created our game changing implementation program called Next Step to Market Dominance. In just ninety days, we'll guide you step by step to a position of market dominance by uncovering your unique strengths that competitors can't touch. By crafting a message that resonates deeply with your ideal customer by building a strategy that turns you into the go.

14:35 To expert in your field. Now this is in theory. These are battle tests strategies that have helped businesses like you as double, triple and quadruple their revenue. Don't let another quarter go by struggling to standout. It's time to dominate your market period. Go to NEXTSTEPCFO dot net forward slash contact. Fill out the form and in the message section put the word dominate or call us at seven eight. One three two six three A two two. That's next step CFO dot net forward slash contact or call us at seven eight one three two six three A two two. Great.

15:15 All right, Michael, we are back. So a couple of things. Yeah, we do a quick recap and then take some questions. Michael, So, let me just have you do a quick recap on the three mistakes and then we'll take some questions. Yeah. Sure. So the first mistake is, uh, it's all about the money. Yep, that's number one. The second try to look. Figure second mistake. Second mistake, what was it? Oh? Yeah, you mean the marketing of the Yeah, the marketing. And then and then the third is treating hiring like a transaction instead of building an employment brand? Right on.

15:56 The second one was about the marketing. You're right, the jargon that they use, Yeah, brilliant. So Michael really quickly and you're just two questions and it will continue on. So first question is. Would you in. Your job application or the job interview process. It looks like they're asking about the job interview process. How would you approach the job interview process given the fact that you want to have the great retention numbers, you want to be an employer of choice, you want to have this great brand. So how does that impact the job interview process? Well, how it impacts is you want to stress the problem that the employee employee has and doesn't want. So you know, in the case in the case of that, in the case of that plumbing company, you want to address how the promise of training and the promise of delivering the training and reinforcing that because there's other employers who might say it, but they just say it and pass it, but just continue to re enforce that and then go and then go into detail as into your solution.

17:06 It's kind of where like in the conversion formula where you captivated and fascinated. Now you have to educate. So right, so I want to become a master plumber a tie of employers who promise training and never deliver. That's captivate, and then promise talking about the unique solution to that problem where we're the only plumbing company in the region with the documented career path and over three hundred dollars of recorded training from master plumbers with thirty plus years of experience. That's the fascinate and then you educate them with more detail about how that program works. So that's that's really where how the interviews are different from you know, from the traditional interviews really really yeah, it's really reinforcing what that how the problem and the solution, and then educating them more about how that solution will come about.

18:05 Great and a really quick one. It's kind of an interesting question. So the idea of the job posting being just like their competitors job posting, there's some business owners that are saying, well, that's industry standard, So how do you keep industry standard in place but still speak to your uniqueness as an employer of choice. Well, just like with I hope so marketing, you can still use that jock, and it just doesn't do anything because the customer is saying, I hope. So in the case in marketing, and an employer is saying, yeah, I know, you know, I know, I know you know you have this program and that you know you have excellent benefits. Okay, you know, I hope, So I hope you have excellent benefits.

18:48 I don't want to go to a place that has lousy benefits, you know. So it's it's kind of I hope so marketing for employees and it but it's okay to use the jog and it's just that's not what's going to get the attention of. The one exactly. That's right to the employee. It's the problem they have they don't want and the solution, the unique solution that they're looking for that they can't find. That's just like the position of market dominance. Very helpfully, thank you. Okay, So, if you are just joining us, we're talking about how to become the employer of choice in your industry. And I just shared how one plumbing company transformed their hiring through always, through what they called the always recruiting system.

19:34 Now let me show you something even more powerful. I want to tell you about Sarah, who owns a restaurant, and like every restaurant owner I know, she was struggling with staffing. And the industry average turnover is seventy five percent. That means most restaurants replace three quarters of their staff every single year. I mean, think about running a business like that where you're constantly training new people. So Sarah was dealing with all the unusual, all the usual restaurant problems, you know, people not showing up for shifts, constantly changing schedules, drama between the front and the back of the house.

20:14 Probably sounding familiar to many restaurants. Who's yes. But here's where it gets interesting. They they did something that most business owners never think to do. Uh. She actually sat down with her staff and asked them one simple question, what's the worst part about working in restaurants in general? M And what they said was it wasn't pay. Of course, it wasn't the hard work. The number one complaint was unpredictable schedules. They couldn't plan their life, they couldn't arrange childcare, they couldn't even commit to taking a class because their schedule changed every week. So did something radical.

21:02 She created the stable schedule guarantee. And here's how it works. Were schedules were posted thirty days in advance thirty days. Employees got to pick their preferred shift. If management had a change a schedule, the employee you had to work extra not got paid time and a half even if it wasn't overtime. And every employee got two weekend days off per month. Guarantee. Staff could swap shifts to an app with other employees, but management handled the paperwork. Okay, what this sounds like, chokie is a risk reversal?

21:47 Right? Exactly, it really does when you think about it. The employer is taking most of the scheduling risk, if you will. Was this complicated to set up? Yep? It was. Did it require more plan for management? Who bet it did? But here's what happened. Turnover drop from seventy five percent to fifteen Wow, calls Calls decreased by eighty five percent, Customer satisfaction went up forty percent because the employees were happy, and sales increased by twenty two percent. And why did sales go up well because happy experienced staff sell more and provide better service. You know that old adage that that McDonald's you want fries with that? Well, you know, they weren't selling desserts, and so now all of a sudden, the employees are asking would you like to dessert? And they're actually asking the question and it converted exactly. Uh.

22:46 And but here's what's really fascinating. The food costs went down. Why because experienced staff make fewer mistakes and waste less food. Interesting, So let me show you another example that that really drive this home. There was this IT company that was constantly losing people to bigger firms. They couldn't match the salaries that Google and Amazon were offering, so they thought they were doomed to be a training ground for bigger companies. But when they interviewed their team, which is what Sarah did if you were called, they discovered something surprising. The biggest complaint was in salary, It was being on call.

23:27 These tech professionals were tired of getting emergency calls at two am, like doctors and having to handle critical problems alone. So they created the no solo on call policy. So every after every after hours emergency had two people assigned. The second person got paid just for being available if you handled it, and after ours emergency you could come in late the next day and they wrote, they created a rotation so no one was on call more than once every six weeks. Ah. Nice. And then they developed detail emergency protocols so junior staff could handle most issues. And the cost actually was about eight thousand per month an additional on call pay.

24:22 But the result is they have turnover dropped to zero. That's right, zero, No one left for over eighteen months. The savings in recruiting and training alone paid for the program three times over. But here's where it gets really powerful. Remember how the plumber had a position of market dominance employer choice. Well, they turned this into a recruiting message, ted of handling, and that was this tight of handling critical emergencies alone at two am, we're the only IT company that guarantees you'll never have to sew a crisis solo. That was it. Those two sentences to captivate and the fascinate, the problem and the solution. Uh, that's a position of market dominance once again, employer of choice. So here's what happened. Ultimately, applications from experienced technicians doubled, but more importantly, they started to getting applications from senior engineers at bigger companies who were burnt out from being on call alone. And here's something else that's fascinating. Their client satisfaction scores went through the roof. Why yeah, yeah, because two heads are better than one in a crisis. Problems that solved faster and better because people were working together instead of struggling alone.

25:45 But let me show you the real secret to making all this work. Most businesses try to solve their staffing problems by copying what other companies do. Well, that's exactly the wrong way, since when you know, since when does doing what your competition is doing work? It doesn't. So the key is to solve problems that no one else is solving. So think about it. If everyone offers competitive pay and benefits, those things become the minimum expectation. They don't make the special. They don't make you the employer of choice. What makes you special is solving the real problems that really bug employees. So let me take another break.

26:30 This is before we continue this discussion. This is a good stopping point. We'll take another ninety second break. Great, hey, their business owners, let me ask you something. Are you tied of blending in with your competitors? Frustrated? With slow growth and slim margins. Well, I've got news for you. Everything you've ever learned about growing your business is wrong. Don't worry. I'm here to let you in on a secret weapon, your position of market dominance. It's what sets you a part, makes you irreplaceable, and has customers lining up at your door. My name is Michael baber Rita from Next Step CFO. I know what you're thinking. Sounds great, Michael, But how do I find my position of market dominance? Well, that's exactly why we've created our game changing implementation program called Next Step to Market Dominance. In just ninety days, we'll guide you step by step to a position of market dominance by uncovering your unique strengths that competitors can't touch.

27:29 By crafting a message that resonates deeply with your ideal customer, by building a strategy that turns you into. The go to expert in your field. Now this is in theory. These are battle tested strategies that have helped businesses like you as double, triple and quadruple their revenue. Don't let another quarter go by struggling to standout. It's time to dominate your market. Period go to NEXTSTEPCFO dot net forward slash contact. Fill out the form and in. The message section put the word dominate or call us at seven eight one three two six three A two two. That's NEXTSTEPCFO dot net forward slash contact or call us at seven eight one three two six three A two two.

28:16 So welcome back to powerful business strategies. And if you're just joining us, we're talking about becoming the employer of choice in your industry. And I've been sharing real examples of how businesses have transformed their ability to attract and keep great employees. Now I want to show you something that will completely change how you think about employee retention. This particular employer called it the Career Investment System, and it's based on the discovery he made in his manufacturing company. See, this company was losing skilled machine as faster than they could train them. They were offering you know, good pay, good benefit, it's all the usual. But here's what they discuss it when they dug deeper that their best employees weren't leaving for money, they were leaving because they felt stuck.

29:09 So they created something really revolutionary called the skill Investment account. And here's how it worked. So every employee got five thousand dollars per year to invest in their own development. They could use it for any training or certification that they wanted, and if they stayed with the company for two years after using the money, they could keep it. If they left earlier, they had to pay back a pro rated proportion, and they earned additional pay increases for each new skill that they mastered. And so you know, I know that, But you know now, I know that some of you are thinking, Michael, what if I invest all this money in training and they leave? Anyway? Yeah, well let me ask you this. What if you don't invest in training and they stay, which costs more training people who might leave, or not training people who stay.

30:02 So the results were really incredible. Yeah, not only did the retention improved to ninety five percent, but productivity shot up by forty Why because people who are learning new skills are more engaged, more efficient, and simply better. And here's where it gets really interesting. They started getting applications from competitors' best employees. Why because they became known as the company that invests in its people. They became known as the place where you could build a career and not just earn a paycheck. So let me share another example that will really drive this home. This is an accounting firm that was struggling with the same issues every accounting firm faces brutal tax seasons, burnout, and high turnover.

30:54 They created what they called the Life First scheduling program. And what happened is is mandatory no mandatory saturdays during tax season, remote work options, three days a week. Every employee got five consecutive days off after April fifteenth, flexible start and end times, and additional paid time off accrewl during the tax season. Now was the owner of this accounting firm nervous about this? Oh? Sure he was, and his biggest far was that work wouldn't get done. But here's what actually happened. Productivity increased by twenty five percent, error rates dropped on the tax returns dropped by forty percent, client satisfaction scores hit all time highs, and then became known as the best accounting firm to work for in their area. And why did productivity go up when people were working less? Because rested, happy people do better work.

32:01 That simple. Yeah, but here heah. But here's what's really fascinating. Their revenues actually increased as well. Why because their employees started referring high value clients to the firm. They were proud to work there and wanted their friends and family to do business with them. So, now let me show you how to implement this in your business. Now, it starts with what I call the employee experience audit. You need, yeah, and you need to map out every touch point and employee has with your company. That's the key. And those touch points usually are the hiring process, onboarding, daily work experience, training and development, performance reviews, career advancement, recognition and rewards, communication systems, work life balance, and exiting process. And so at each touch point you have to ask yourself or interview employees, is this experience making people want to stay and grow with us? Or is it pushing them? Each touch point you have to make an evaluation as to whether or not it's something that attracts or detracts the employees.

33:27 And so here's an example. A company in the trades completely transform their onboarding process and instead of using instead of the usual first day paperwork and safety videos, they created what they called a success week because they felt that the most important week of employment was that first week that that really set the tone. And so on day one you would meet your success team and mentor. Day two you would learn systems and processes. Day three you would shadow your mentor. Day four you had hands on practice with feedback, and then day five you would plan your first ninety days of growth. And then ninety day retention rate went from sixty to ninety eight percent.

34:14 Why because they showed people from day one that this wasn't just another job, that it was a place where they could actually succeed. And He's the most important thing. None of these strategies work and isolate. You need what I called total employment experience. It's not enough to have good pay, of good benefits, of good training. You need all of it working together, creating an environment where people want to stay and grow. So we've spent the last several minutes talking about the bigger elephant in the room, and the elephant in many boardrooms as a matter of fact, how to become the employer of choice in industry. And now I just want to give you some specific action items that you can implement starting tomorrow. Okay, but first, let me just share one last story that brings all of this together. There was this company in the landscaping industry, and like everyone in his industry, he struggled with hiring and retention, and he was constantly losing people to competitors, sometimes for as little as fifty cents more per hour.

35:31 And one day he said something that really struck me. He said he felt like he was running a training school for his competitors. I hire people, I train them, and then they leave for somewhere else. That probably sounds familiar, especially in the trades. So what he did was something really radical. He turned his company into an actual training school. He created the Green Career Academy. So every employee got certified training and landscape design, they got equipment operations certifications, they got business management training, leadership development, and safety certifications.

36:17 And here's what happened. Not only did his turnover drop to almost zero, but his competitors started sending their people to him for training. He turned his biggest business problem into a profit center, and he charged those He charged those competitors. It just it was just incredible. So let me let me give you five specific actions that you can take this week to stop transforming your business into an employer of choice. So, first, conduct stay interviews with your best employees. Don't wait until they leave to have an exit interview, call it a stay interview. To find out what keeps them around. Ask them why did they choose to work there with you? What would make you leave?

37:08 Be frank, open, honest, This is this is this is just being really open with people. What's the best part of working here, what frustrates to you the most, and what one thing would make this a better place to work. So if you ask those questions that have open and honest discussions with employees, they'll really appreciate it, by the way, but you'll learn so much. The second map out a clear career path for every position in your company. People need to see a future, not just a job. Show them exactly how they can grow, what skills they need to develop, and what rewards will be for them will be available to them. The third thing is look at your job postings. If they look like everyone else's, rewrite them to focus on what makes you truly different. To focus on the problem that employees have that they don't want, because remember, it's not about what you want, it's about what your ideal employees want. And then fourth, you create a total employment experience plan. Look at every touch point from hiring to advancement, and then make sure that one reinforces the other and why you're the employer of choice.

38:31 So look at every touch point from hiring to advancement and make sure that each one reinforces the other and why you're the employer of choice. And then fifth, and this is really, really really crucial, stop marketing your employment brand even when you're not hiring. The best time to find great people is before you need them. It's like the best time to get a credit line for your business is before you need it because banks will never give you money when you need it. Oh, so you you have to be proactive. And it's the same thing in building an employment brand. You have to constantly be working on it, not just when you need people. So let me leave you with this thought before we get to compliments. You know, everything you ever learned about hiring and attention might be wrong, but this is absolutely right.

39:25 The best employees want to work for the best employers. Your job is to become that employer. Tookie, It's it's time for compliments, and then you can set it back for me for some final thoughts. Absolutely, so, look energized by today's episode and Michael I took some really good notes. So thank you. We have three business compliments in our compliments segments today and we have a fourth surprise business. Compliment, so let's get to it. The first is Auto. Seagull is president of Genius Coaching, and they provide family and parental coaching.

40:07 And here's their mission statement. At Genius Coaching, they believe that every human being is valuable and born with an innate ability and desire to find their unique brilliance, and so they encourage this joyful treasure hunt guided by three simple questions, what are you good at, what do you love to do? And who are you? So to find out more, feel free to check out Auto and Team at geniuscoaching dot com. The second business compliments spotlight is Mark Smith. Mark owns five minus locations, so we're all to some extent familiar with midas. They provide auto and car service options. And what Market Team do is they perform all types of services, whether it's break related, oil.

41:02 Changes, on and on and on. And Mark's going to be opening a sixth location before year end, a testament to his success. In addition to that, one of Mark's locations has the largest volume based on service delivery across all of the Midas franchises, so Kudo's market team. You can check out more at Midas of Central Va dot com. So they're located in the Virginia area, So Midas Central Va dot com. The third Marjorie Goldberg. Really energized by the spotlight, so margins with Zenith Gallery and what they do is they specialize in helping businesses communicate their mission and vision using culture and fine art and find craft furnishings. So very creative in how they make an impact in the business community.

42:03 Now the last, but absolutely not the least. This is a surprise, right We on behalf of the Next Step cfour brought a team and really the family and friend network of Next Step CFO. We want to compliment Michael Barbarita, the president of Next Step CFO, for today's compliment. This is also part of our celebration. It's Gratitude month, it's a month. Of Thanksgiving, and we're really just on behalf of all of us when it's to say a big thank you to Michael and part of what we did. And I've had the honor of working with Michael for a while. There are number of folks that I've participated in roundtables with business roundtables as well as in book interviews with and some of these individuals have worked with.

42:44 Michael for decades. So what I did is I catalogued some of their commentary on the impact. That Michael has had in their business. So here are a couple of those. Without Michael's partnership, I would have completely given up my dream of owning and managing my own business. Second commentary, the best way to describe what Michael does for me as a business owner is that he gives me and my family peace of mind and then provides me with the confidence that I need to make sound business decisions. And then the third commentary, I really love this one. So here's why. What this business owner noted. Anyone can crunch numbers and present spreadsheets, but what Michael does is above and beyond the traditional CFO.

43:32 He is so strategic, He has been. There as a business owner, and he totally relates to the challenges that business owners have, both as it relates to finance and strategy. Michael compliments to you so. Back, thank you, thank you, Chicky. That was very kind, too kind. As a matter of fact, I want to know how much you paid each individual person to say that I love it. So last week we were talking about frequency of sales, how to get more sales from existing customers, and I wanted to share one final story that I didn't have time for, and this was a massage therapist who was struggling to get clients to book more frequently, which was basically the topic of our show last week. And like most massage businesses, she was stuck in the when you need it model, but she completely reversed that thinking. And what I mean by the when you need it model is the customer's mindset was, you know, I'll come when I need it. I'll come when I need a massage. So she created what she called the Wellness Journey program. Instead of waiting for clients to book when they were in pain, she created specialized treatment sequences for like the stress Management series that's one of them was called the Athletic Performance Package, the Time Sleep Program, the Office Workers Relief Plan, and each program required regular visits over three or four months. But here's the case.

45:00 She wasn't selling massages anymore. She was selling outcomes, and that's a different shift of mindset. Her average client went from booking six times per year to twenty four times per year in her revenue quadruple without adding a single new client. And so, and let me show you now something really powerful that the next need anticipation system. This is about predicting what your customers will need before they even know they need it. And here's another strategy that's just pure goal, the cross experience enhancement. Let me show you how this worked for a personal trainer. Most trainers think their job is just about exercise, but this particular trainer looked at what else impacts a client's fitness goals, nutrition, sleep, stress management, recovery, and lifestyle habits. So instead of offering a training sessions, he created what he called life enhancement partnerships, and he partnered with nutritionists, a massage therapist, a sleep specialist, a medallion, a meditation coach, and meal prep services. This is really great for our joint venture partnership segment that we did in a previous show. And so he did provide these services himself, he coordinated them, and he became the quarterback for his clients overall wellness. His average client

46:32 went from spending five hundred dollars per month with him the over two thousand dollars a month on various services, and he got a percentage of every referral. But here's what's really important to understand. None of these strategies feel like selling to your customers. You're not pushing products or services. You're solving their problems and enhancing their experience. And let me give you one final example that proves this works in any industry. This is a company that sold industrial supplies. Pretty boring, right, but he transformed transformed his business with what he called the usage optimization program. So instead of waiting for customers to order when they ran out of supplies, he created monthly usage analysis, quarterly efficient reviews, I'm sorry, quarterly efficiency reviews, automated reordering systems, waste reduction programs, and cost savings assessments. His customers started buying more frequently because he made it easier to buy and showed them how to save money by managing air inventory better. And his average customer went from ordering six times per year to ordering every two weeks or twenty six times per year, and his margins actually increased because of the efficiency in larger and more regular orders, not to mention his speed of delivery. To get a copy of the book Powerful Business Strategy, simply go to our website www dot NEXTSTEPCFO

48:06 dot net. It's totally complementary and until next Monday at noon Eastern time for Chucky Obio. This is Michael Barberita, and remember, don't keep doing what your competition is doing. You have been listening to Powerful Business Strategies finding out that everything you ever learned about growing your business is wrong. Tune in next week and every week at noon Eastern time on W four CY Radio with your host Michael Barbarita of Next Step CFO and moderator Chugy Obio