Sept. 24, 2024

Increasing Prices

Strategies to Increase Prices Strategically and Tactically

Powerful Business Strategies is broadcast live Mondays at 12 Noon ET Music on W4CY Radio...

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Strategies to Increase Prices Strategically and Tactically

Powerful Business Strategies is broadcast live Mondays at 12 Noon ET Music on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com January Jones Sharing Senior Success is viewed on Talk 4 TV (www.talk4tv.com).

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The topics and opinions expressed in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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or its employees are affiliates. Any questions or comments should

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be directed to those show hosts. Thank you for choosing

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W FOURCY Radio.

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Welcome to Powerful Business Strategies, where you will find out

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that everything you have ever learned about growing your business

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is wrong. Finally, a show where you'll learn the right

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way to grow your business by learning business and financial

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strategies that your competition isn't doing. And now here is

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your host. Resident of NeXTSTEP CFO Michael Barbarita and joining

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Michael for today's show as an executive moderator is chooky.

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Obia, Yes, yes, yes, this is chooky, and I believe

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that gratitude is undefeated and growth is about the next step.

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It is an honor for me to moderate today's discussion

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with my good friend Michael.

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Michael, how are you.

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How are you, Chooky? How is your weekend?

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Weekend was phenomenal?

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Yeah, Mike Dallas losing.

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Yeah, exactly, yeah, yeah, the Cowboys loss something. I probably

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have to get therapyfore later this week. How was your weekend?

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Really good? Really good? Thanks? Great? And my name is

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Michael barbera president of Next Step CFO, and next Step

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CFO is a fractional CFO and strategic implementation firm. In

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Our vision is to ensure overwhelmed business owners achieve the time, freedom,

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and consistent profits to build a legacy and live the

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life they desire. And our mission is dedicated to guiding

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small business owners to leverage their time, exploding their profits,

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and build a meaningful legacy. The show Powerful Business Strategies

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and our book of the same name, is a step

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toward accomplishing that vision and mission. So with that, I'd

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like to hand it back to my co author and

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moderator for the show today, Chooky Obio.

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Michael, Look.

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I am energized about today's episode. The title for today's

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episode is increasing Prices, and I know that we've got

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quite a few insights, practical insights to share. Before we

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do that, just a quick disclaimer Michael Look. As our

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regular listeners know, fact, we have a number of new listeners.

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Michael and I are both affiliated with a number of

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different organizations, and I currently serve as the managing director

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of business development for Better Price, a global business focused

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law firm. In addition to that, it's truly inspirational to

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collaborate with Michael to moderate a number of business roundtables

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really close to co and then meet with small business

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owners and medium sized business owners and document best practices

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from those business roundtables. And look, this is part of

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the inspiration for our book, Powerful Business Strategies. But please

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note the views expressed in today's show are our personal

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views based on success stories and successful experiences. My mission

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as a fearless leader and moderator for the discussion is

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to ask the right questions and help you as a

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listener to really learn the best strategies that the competition

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isn't doing. And Michael Look, giving your CFO and CEO experience,

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I am truly truly energized by today's episode because we're

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discussing something that a lot of business owners might find

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counter intuitive.

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Increase in prices.

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Yeah, yeah, absolutely fearful even Yeah, it's something that they fare. So,

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as Jokey pointed out today's show, we'll show you how

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to raise your prices and charge your worth without losing

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new business. But please understand that it's value, not price,

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that attracts consumers and prospects. If you can increase the

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value of your product or service, you'll be able to

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increase your prices, your profit margins, and increase your sales.

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And there are some common mistakes made by business owners,

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so you first should first familiarize yourself with price fundamentals.

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But before I get into that, one of the things

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this is really interesting, how one of the ways that

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I increase the value of coming to my ski stores.

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When I was in the ski business, one of the

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ways that I added value was I used to offer

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free freshly popped popcorn. I bought a large popcorn popper

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from a local carnival and when I pop the popcorn,

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you could smell it throughout the store. And the core

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concept in retailing was to get people in the store

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and let your merchandizing sell the product. Even if somebody

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comes into the store and doesn't even want to buy,

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the concept is is that get them into the store

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and have your merchandising sell the product for you.

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Interesting.

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So yeah, so people used to come into the store

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just for the popcorn, okay, and and then and at

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the end then walk out with product in their hands.

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And it was you know, the popcorn was hot and fresh.

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It we kept you know, some some days we had

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to do six or seven batches, and it drove revenue.

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It added value versus going to our competitor. Our competitor

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never ever, our competitor is never ever did such a thing.

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And you're going to see a little later on how

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Japanese auto dealers do a similar thing. And what we

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did with the popcorn alone justified any small price hype

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we may have implemented. And so just coming up with

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ideas to adding more value to your product or service

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is really important when it comes time to increase prices.

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So low price consumers think about this fundamental. Low price

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consumers will mostly consume your time if you're competing on price,

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and it's almost always the case. Typically they're the loudest

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and demanding value, and it's oftentimes it's oftentimes it's thought

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that the contrary is true, with the customers that pay

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the highest prices demand the most value. Not really true.

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If you really analyze who the customers are that are

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allowed it and are heckling the loudest, it's usually the

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low price customers that are the loudest and are consuming

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your time. So who Those who spend the most for

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anything should be entitled to the best treatment, and that's

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exactly what they get. But those customers that pay the

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highest prices, they simply make less complaints about value. Think

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about that, and let's look at two tactics where you

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could rapidly boost your pricing without any noticeable influence on

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your overall number of clients, both of which would improve

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your worth considerably. But here's the most important thing to note.

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The beautiful thing about being in business and price increases

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is you could always test your prices. You can always

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test it with a couple of customers, test it with

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a couple of quotes, test it on the reflay retail floor.

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You're not married to it. You can always revert back.

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So here are those two tactics. First, in cases where

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an uptick and price won't scare away too much customers

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too much, it would be worthwhile to consider simply raising

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your prices just a tad a product or service that

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normally sells for ninety two dollars may have its price

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increase to say ninety seven. What if you just increase

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it slightly, Customers are likely to not even notice the priceike,

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as they likely see no meaningful difference between the new

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and old costs. And one of the things that we

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learned is that even with a small price increase over

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time that could mean it definitely means more gross profit dollars,

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but it also also means an increase in your gross

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profit percentage. Two of the things that we always want

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to look at, part of the vital five that we

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always want to look at, and one strategy is to

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think about raising the prices of anything you sell that

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presently costs between ninety and ninety six dollars, eighty and

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eighty six dollars, seventy and seventy six dollars, and so on,

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and change the final digit to a seven or an

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eight or a nine even but today it looks like

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seven or eight are the sweet spots. So a product

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that's selling between ninety and ninety six dollars, make it

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ninety seven or ninety eight, and doing so will often

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result in no pushback and have no effect on conversion rates.

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You know, once again, if the thought of trying this

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makes you nervous, run a little test, double check your findings.

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In the event of client resistance, you have the option

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to revert back to your previous price structure. It's one

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of the beautiful things about business and about being in

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business for yourself.

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You have the opportunity to test exactly right, Michael, I

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want to pick up on that point. So we are

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getting some skeptics, right, as you might imagine. Right, So

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there's some business owners are a little skeptical here, right, Like,

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let's go back to just the point.

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That you made about testing this, right, I.

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Mean, there's some folks who are saying, well, look, I mean,

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how do I even start to kind of build that

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kind of a test profile.

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What are your thoughts related to that?

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Well, you know, I mean, if you're a retail store,

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change a couple of prices in the store to you know,

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increase them slightly. See what the impact is. If you

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are a service organization that provides quotes, make a increase

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your hourly If you're a service organization you probably have labor,

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increase your hourly rates slightly and do a couple of quotes.

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See what the impact is every or every time, or

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whatever price list you have. Maybe if you even if

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you have a subshop, okay, you change the price just

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one week for one week to test it, the price

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of a ham sandwich, I mean, whatever it is. You

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can always test it and revert back if you get

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the resistance that you're that you may or may not

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expect exactly. And that's and that's really how it's done.

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And that's the beautiful thing about price increases. You can

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test them. You're not married to them. It's not like

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you know, you have to announce them to the world.

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You don't, and so it's really an effective way to

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maximize the optimum price. And so the second tactic tactic

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is something I have suggested with my clients for years

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and it's proven very successful. And by the way, before

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you do any of these tactics, you should always understand

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your competition's pricing, if for nothing else, just to know

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it and know where you stand compare it to your rivals.

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But what I tell clients is if you get resistance

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or complaints due to high prices, twenty five to thirty

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three percent of the time, you're probably priced correctly. If

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you get resistance or complaints due to high prices less

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than twenty five percent of the time, then you're likely

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priced too low. And when you get resistance or complaints

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to high prices more than thirty three percent of the time,

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you should probably keep your prices where they are, except

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if it becomes more than fifty percent of the time,

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and then you should think about retracting some of the prices.

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Michael, Yeah, it's funny.

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You just got a nice kind of compliment here, So

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it seems as though that could be part of the test. Right,

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So you gather these data points and then you use

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some of the thresholds that you called out, For example,

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the twenty five percent threshold, you use that as a

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way to measure the effectiveness of your price increased strategy, right.

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Right, And and you know, if if your complaints a

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below one out of four or twenty five percent, then

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you're probably priced too low. Then you can start creeping up.

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Stop testing the creep you know, not testing the creep up,

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and and and that way you'll be right on top

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of it. Now, it's important to track your metrics on that.

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You know, retails, and retail you ask the people on

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the floor. What's the resistance on price? If if you're

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in the service business, you should keep track of what

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percentage of the time your quotes are denied because of price.

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People will usually tell you if it's price, you know,

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they're they're getting a quote, a smaller quote from someone else.

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That's always and sometimes that line is not really true,

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of course, but yeah, but you know, I think that

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if you kept track of it, you know, customers a

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good deal, they'll keep their mouth shut when you have

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a good when they when when they you know, when

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they're ready to buy right away. So I think I

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have always had success, My clients have always had success

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measuring that using those ratios to measure whether or not

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their prices are in line. So let's talk about commodity

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based businesses because they have difficulties when trying to raise

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price without a corresponding value added component. And notice, you know,

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notice I said without a corresponding value added component. To

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justify a price increase for a commodity based business, you

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have to zero in on what makes your product or

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service stand out from the competitors, and that includes how

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it's delivered. In other words, and you've heard us say

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these words before. If you've listened to any of our shows,

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you need a position of market dominance, and we have

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shows dedicated to explaining that at Powerful Business Strategies dot com.

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And if I have time at the end of the show,

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I'll explain some of the general mechanics of a position

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of market dominance. Again, but you're best served by going

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to Powerful Business Strategies dot com and there'll be a

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show there that talks about position of market dominance. And

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you should listen to that show and get a really

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good idea because it's critical to your ability to increase prices. So,

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and let me give you a quick example of a

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commodity based business who established a position of market dominance. So,

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a dry cleaning business and drag cleaning businesses are very

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popular and for the most part, our commodity based business.

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You know, there's a lot of dry cleaners around. There's

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not one at every corner, but every town probably has

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two or three, and so for the most part, they're

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what I call commodity based businesses. But one of the

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dry cleaner both picked up and delivered your clothes. Do

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you think that company could raise prices without losing customers?

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I would say that it's very likely, absolutely, and you

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can see just by that how a position of market

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dominace sets you apart. The value it has is undeniable

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and immeasurably high. So how how do you raise prices

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gradually and avoid annoying customers? So basically, yeah, you basically

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have to follow these steps for the most effective implementation

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of this technique. And this is quite lengthy what I'm

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about to say, but it's well worth it, and there

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are some very insightful questions that I'm going to pose,

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So be honest with yourself. The preliminary work is to

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make a list of your rivals and write those names down.

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So that's the first thing. You got to write down

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a list of your competitors, their names, the services they provide,

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any discounts they might offer, any uh any, the various

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forms of advertising and promotions that they use. And to

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get this information, you could collect their advertisements, join their

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mailing lists, go to their stores, call them as a

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phony customer. I used to do that all the time.

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I used to call my competitors and have a sock

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over the phone so just in case somebody could pick

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up my voice, I love it would be difficult intelligence, Michael,

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I know, I give that all away, you know, and

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you could browse their websites. Uh, and and the list

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goes on. Uh. Then you should ask yourself the following questions. First,

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how much do you typically charge for your main offerings? Second?

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When was the last time you did a price increase?

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Because you really should do prey increases at a minimum

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of points a year. And then third, how competitive is

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your pricing and relation to those of your rivals? Fourth?

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In what ways does your product excel over those of

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the competition? Fifth? Is there anything more that you can

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offer with your goods that the buyer sees is increasing

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its value? Please give that number five the most thought,

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by the way. Six, it's simple for customers to go

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elsewhere to get or is it simple for customers to

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go elsewhere to get lower prices for the products you sell? Seven?

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Do you have an understanding of your competition's greatest area

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of vulnerability? That's a really important question. Where is your

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competitive where are your competitives? Week? And how can you

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exploit that? Eight? Do you or are you able to

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make up for your competitive shortcoming after you analyze what

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that shortcoming is in order to achieve market share. Nine,

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in what ways do you think taking advantage of your

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competitive shortcomings will affect your sales and conversion rates? And

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number ten, how much more money could you make if

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you increase your pricing by simply three percent? And I

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know this is a lot of research what I just

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went through, but if you're planning to create a solid business,

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you'll do well to understand what would happen if you

301
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boost your prices by three percent while retaining your existing

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sales conversion rate. Would three percent be noticeable by your

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client or customer. It's kind of what we said at

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the beginning of the show. When you have a product

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00:19:55.440 --> 00:19:59.680
between ninety to ninety six dollars, have it end with

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00:19:59.680 --> 00:20:02.759
a seeven or an eight ninety seven or ninety eight dollars?

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And is that going to be noticeable? So doing this

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research is essential if you're a business owner and you

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want to stay ahead of your competitors. But most business owners, however,

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are already stretched too thin to devote much more time

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and energy to make the most of the resources available.

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So consider contacting a local business school. By the way

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I've done this, consider contacting a local business school or

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community college about hiring a student to conduct this research

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00:20:35.160 --> 00:20:41.599
on behalf or even better, advertising an internship position. The

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internships are a great, great way for business students to

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receive hands on experience in the field while also getting

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you are getting some free assistance with the research, or

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if it's not free and I've gotten free, but there

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is sometimes you have to pay a minimum wage. And

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by the way, if you're in a state like Massachusetts, uh,

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there's a program that pays for training for Massachusetts based employees.

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Do a Google search for Massachusetts Workforce Training Fund Program.

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Let me say that again. If you're in the state

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of Massachusetts, do a Google search for Massachusetts Workforce Training

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Fund Program. If you have an existing training program, you

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should definitely go. You definitely should do that Google search.

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And if you're planning on hiring interns for any reason

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and you have put together a training program of any kind,

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whether it's interns or not, doesn't have to be in terns,

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you should do a Google You should do that Google

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search because the state of Massachusetts will pay you up

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to two hundred thousand dollars for training employees. So you know,

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if you don't have the time to do the research yourself,

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just hire a business student for next to nothing to

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do the groundwork, answer, answer your questions, and compile the

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results of those ten questions, and don't forget to include

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the following details like a list of the competitors and

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their contact information, a synopsis of each competitives product or

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00:22:22.200 --> 00:22:24.920
service You could go and when you hire someone to

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00:22:24.960 --> 00:22:27.880
do it, like an intern or a business student, you

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can go into these details. The prices at which it's

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currently being offered, the competitives relative strengths and weaknesses, and

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a statement of your competition competitors marketing goals and objectives.

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You should learn as much as you can about your competitors.

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What if they have risk reversal techniques, You should understand

347
00:22:46.920 --> 00:22:52.160
if they have those customer service shipping costs, all that stuff,

348
00:22:52.240 --> 00:22:56.079
any guarantees or warranties or other payment conditions that can

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sway a customer and make a purchase. The point is

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to get you thinking about which of these will give

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you the greatest chance of success. And the best places

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uh to look for answers are the ones that will

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cover next. So whomever ends up doing the study should

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go there first. So start with their start with their

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online presence, then become a secret shopper, and you could.

356
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You got business students a great secret shopper, by the way,

357
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and visit stores or locations, even if they're service companies.

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Visit the location, see if there's any advantage to being

359
00:23:37.440 --> 00:23:41.839
at the location they're in. Even make purchases. I used

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to buy competitors' products. If I didn't have it, I

361
00:23:45.160 --> 00:23:48.440
used to buy it to see if it works. Talking

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to consumers, analyzing advertisements, attending speeches or presentations, and checking

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out trade exhibits and displays. These are all ways to

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get new information, not just about product services, but about

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00:24:01.240 --> 00:24:07.519
your competitors. You can investigate a variety of printed materials,

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from online directories to annual reports, to databases, to industry surveys,

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to trade organizations publications, to local newspapers, periodicals and journals.

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I know this sounds exhausting, but it's been proven that

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the more you learn, the better your chances of success.

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And there are three essential things that can readily justify

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a price hike. And I know you're all going to

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say that's easier said than done than it is, but

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these are the things that really help we business owners.

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And once you have this crucial data that I mentioned

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and once again, you get an intern to do it,

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you can utilize it to implement three changes to your

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business that will allow you to charge whatever you choose.

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One is you're in a dominant position in the market.

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Means that means you have a position of market dominance,

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and you have great value versus the competitors, your products

381
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are in high demand. And three, the risk connected with

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buying your products or services have been reduced or eliminated altogether. Now,

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if a company has these three things, it may easily

384
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become the dominant player in the market. Once again, it's

385
00:25:33.559 --> 00:25:37.119
easier said than done. But one of the things that

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Chuchy and I do is we help business owners with

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00:25:39.759 --> 00:25:45.160
these three exact things. And let's deal deeply now into

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each of these areas. So your company's ability to dominate

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00:25:48.920 --> 00:25:51.240
this market. This is what we call the position of

390
00:25:51.279 --> 00:25:55.279
market dominance. This one thing is the most crucial fact

391
00:25:55.519 --> 00:25:59.759
in achieving business success. And it's the position of market

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00:25:59.799 --> 00:26:05.000
dominance that attracts customers to your company rather than those

393
00:26:05.039 --> 00:26:08.680
of your competitors. So think about this now, do you

394
00:26:08.759 --> 00:26:11.359
have a position of market dominance, and aps do you

395
00:26:11.400 --> 00:26:14.359
make your position of market dominance clear to your potential

396
00:26:14.400 --> 00:26:17.799
customers in all of your advertising, in all of your

397
00:26:17.839 --> 00:26:22.279
sales calls, in all of your interactions, including your answering machine.

398
00:26:23.799 --> 00:26:26.559
What is it that you provide that makes it silly

399
00:26:26.599 --> 00:26:30.279
for them to consider purchasing from someone else. If there

400
00:26:30.279 --> 00:26:36.160
are one hundred customers in a market and nineteen firms

401
00:26:36.200 --> 00:26:39.759
like yours, you'll only attract five percent of those prospects

402
00:26:39.759 --> 00:26:43.839
if you don't have a position of market dominance, and

403
00:26:43.920 --> 00:26:47.880
in most industries, that's not enough. The position of market

404
00:26:47.920 --> 00:26:55.880
dominance is that critical component that identifies it identifies what

405
00:26:56.039 --> 00:27:02.839
makes you different. So never underestimate the power of having

406
00:27:02.839 --> 00:27:06.240
a really strong position of market dominance, especially if you're

407
00:27:06.279 --> 00:27:08.359
ready to take your business to a whole new level.

408
00:27:08.400 --> 00:27:15.400
And imagine disempowering your rivals, okay, because that's what it does,

409
00:27:16.240 --> 00:27:19.079
and actually it hits them. They don't know what hit

410
00:27:19.119 --> 00:27:22.839
them when you have this real powerful position of market dominance,

411
00:27:22.839 --> 00:27:26.440
and that's what it can do. And you need to

412
00:27:26.480 --> 00:27:29.519
put an effort to create your position of market dominance

413
00:27:30.039 --> 00:27:32.480
and then make sure it comes over clearly at all

414
00:27:32.519 --> 00:27:36.240
of your marketing materials and all of your phone interactions

415
00:27:36.240 --> 00:27:39.920
and other points of contact with your customers and prospects.

416
00:27:40.960 --> 00:27:44.359
Since this is so important, the initial series of lessons

417
00:27:44.960 --> 00:27:49.240
is aimed to teach you how to establish your company

418
00:27:49.279 --> 00:27:54.480
as the market leader. You know, you may increase the

419
00:27:54.519 --> 00:27:57.680
perceived worth of your product or service by leaps and bounds,

420
00:27:57.720 --> 00:28:00.240
and if you can convince potential customers that you have

421
00:28:00.279 --> 00:28:06.079
a commanding position in the market, successfully increasing prices at

422
00:28:06.079 --> 00:28:08.240
that time will yield the biggest results, and it won't

423
00:28:08.279 --> 00:28:12.559
be a big deal because you're offering the value. But

424
00:28:12.640 --> 00:28:15.799
if you don't work on strengthening your position of market dominance,

425
00:28:15.839 --> 00:28:18.640
your your potential customers won't be able to tell you

426
00:28:18.680 --> 00:28:21.960
apart from the competition. And there's only one way that

427
00:28:22.000 --> 00:28:25.200
they'll be able to tell you apart, and that's price.

428
00:28:26.599 --> 00:28:29.240
And that's what these and that's what business owners have.

429
00:28:29.359 --> 00:28:34.359
The business owner runs into they don't have a strong separator,

430
00:28:34.680 --> 00:28:37.799
they don't have a strong position of market dominance, and

431
00:28:37.839 --> 00:28:41.039
as a result, they're only leaving the customer. It's one

432
00:28:41.119 --> 00:28:44.200
choice to compare you against somebody else, and that's price.

433
00:28:45.839 --> 00:28:48.880
You have to constantly increase the value of your product

434
00:28:48.920 --> 00:28:51.480
or service and you have to be able to communicate

435
00:28:51.519 --> 00:28:57.920
it very easily and readily. And this suggests that you're

436
00:28:57.960 --> 00:29:01.640
simply another you know when your when your competition can

437
00:29:01.759 --> 00:29:05.480
tell you apart, it suggests that you're simply another face

438
00:29:05.519 --> 00:29:10.759
in the crowd. Uh and you know and and at

439
00:29:10.799 --> 00:29:14.839
that moment you're competing on price. Never lose sight of

440
00:29:14.839 --> 00:29:17.799
the fact that a prospect will only use pricing as

441
00:29:17.799 --> 00:29:23.759
a differentiator if everything else is equal. Secondly, in order

442
00:29:23.759 --> 00:29:27.960
to maximize value, many firms follow a standard operating procedure

443
00:29:28.039 --> 00:29:32.279
that's widely used by other organizations in the same industry. See,

444
00:29:32.720 --> 00:29:37.400
most companies can only adapt so much from other fields

445
00:29:37.440 --> 00:29:41.839
because they were founded within their current economic niche. That's

446
00:29:41.880 --> 00:29:45.519
why it's so important for company owners to make to

447
00:29:45.559 --> 00:29:49.400
make it part of their routine to research companies in

448
00:29:49.480 --> 00:29:53.039
other fields. Take a look at different ways that lawyers

449
00:29:53.079 --> 00:29:55.640
in the UK advertise and run their business, or that

450
00:29:57.119 --> 00:30:01.839
travel agencies in Australia provide this services, or the methods

451
00:30:01.960 --> 00:30:04.640
auto dealerships which I'll give you an example in a

452
00:30:04.720 --> 00:30:10.920
moment in Japan used to close their deals. The next

453
00:30:10.960 --> 00:30:14.880
step is to determine how you can borrow successfully from

454
00:30:14.920 --> 00:30:18.720
their methods and implement them to your own. And this

455
00:30:18.799 --> 00:30:22.599
is all part of the education process of adding more value.

456
00:30:23.559 --> 00:30:27.119
Look and see what other companies and other industries are doing.

457
00:30:29.759 --> 00:30:33.279
In a nutshell, you'll rule your industry if you're able

458
00:30:33.279 --> 00:30:35.680
to do this. And so let me explain the customary

459
00:30:35.720 --> 00:30:40.680
practice that Japanese auto dealerships. So, the customary practice that

460
00:30:40.759 --> 00:30:44.839
Japanese auto dealerships is to provide potential customers with a

461
00:30:44.920 --> 00:30:48.559
drink menu on a laminated card and then may have

462
00:30:48.759 --> 00:30:52.200
anything to drink from a selection that includes iced coffee,

463
00:30:52.480 --> 00:30:57.880
hot tea sodas, hot chocolate, and water. What does that cost?

464
00:30:58.759 --> 00:31:00.920
It seems like there would be a lot of companies

465
00:31:00.920 --> 00:31:03.519
who would benefit from using that kind of protocol. What

466
00:31:03.559 --> 00:31:06.039
would you what do you think? What would you think

467
00:31:06.079 --> 00:31:08.440
if your bank did something like that for you? Or

468
00:31:08.480 --> 00:31:12.920
a spa, a floris, the doctor, an accountant, a hairshop.

469
00:31:13.599 --> 00:31:16.839
This is this is a basic illustration of a service

470
00:31:16.880 --> 00:31:20.960
with additional value. These services don't break the bank, but

471
00:31:21.119 --> 00:31:24.359
make your company look much more valuable.

472
00:31:25.799 --> 00:31:28.680
Think of these types of things for sure. It's interesting.

473
00:31:28.960 --> 00:31:32.640
We just got a nice kind of comment related to that, Michael.

474
00:31:32.759 --> 00:31:37.960
Like these businesses that you listed out, they have a

475
00:31:38.000 --> 00:31:42.359
feature of their service that requires wait times. Right, So

476
00:31:42.599 --> 00:31:47.440
taken advantage of when your prospective client, your prospective customer

477
00:31:48.119 --> 00:31:51.519
is waiting for a service, and you leverage and that

478
00:31:51.680 --> 00:31:55.799
to deliver a high quality service to that individual as

479
00:31:55.839 --> 00:31:56.319
they wait.

480
00:31:56.480 --> 00:31:57.960
So that's really interesting, Michael.

481
00:31:58.359 --> 00:32:00.359
Yeah, no, that's a good way to expand on that.

482
00:32:00.359 --> 00:32:04.160
That's right. So, you know, any any business that requires

483
00:32:04.400 --> 00:32:06.759
that somebody has to wait for something. You have to

484
00:32:06.759 --> 00:32:09.559
wait for a salesperson in an auto dealership, you have

485
00:32:09.599 --> 00:32:13.759
to wait for a doctor and a doctor's office. That

486
00:32:13.799 --> 00:32:18.759
would be an awesome opportunity to provide something, whether whether

487
00:32:18.920 --> 00:32:22.559
whether it's drink, food, whatever it whatever it is. Like

488
00:32:22.599 --> 00:32:26.880
I said, we provided popcorn nice and we you know,

489
00:32:27.559 --> 00:32:30.960
customers had to wait, but the popcorn was really for browsing,

490
00:32:32.599 --> 00:32:35.480
you know, and because people would come in just for

491
00:32:35.519 --> 00:32:38.279
the popcorn and browse and I can't tell you how

492
00:32:38.319 --> 00:32:44.519
many times they left with buying something remarkable. So when

493
00:32:44.559 --> 00:32:47.599
selling a product, this difficult product, it's often a great

494
00:32:47.640 --> 00:32:50.079
idea to throw in some free education in the form

495
00:32:50.079 --> 00:32:52.799
of a free report or a white paper, or even

496
00:32:52.920 --> 00:32:55.480
just a link to a relevant portion of your website.

497
00:32:56.240 --> 00:32:58.359
I mean, how much did you really spend to provide

498
00:32:58.400 --> 00:33:04.559
free education? It costs virtually nothing. So but but but

499
00:33:05.119 --> 00:33:08.599
the education that free education multiplies the value of your

500
00:33:08.599 --> 00:33:12.519
product or service and justifies any small price increase you

501
00:33:12.559 --> 00:33:15.839
may implement. And the key is to think in terms

502
00:33:15.880 --> 00:33:21.240
of value of value addition to stay ahead of the competition.

503
00:33:21.319 --> 00:33:25.400
In today's business world, it's just imperative that you'll always

504
00:33:25.480 --> 00:33:28.519
be thinking about better ways to assist and support your

505
00:33:28.519 --> 00:33:32.480
customers and clients and prospects and provide more value. You

506
00:33:32.480 --> 00:33:34.519
know a lot of business owners are thinking, right now,

507
00:33:34.559 --> 00:33:36.400
how do I do that? But you know, we just

508
00:33:36.480 --> 00:33:39.119
gave you some great examples of going out there in

509
00:33:39.240 --> 00:33:41.640
other fields and seeing what they are doing to add

510
00:33:41.680 --> 00:33:45.920
more value to their product or service. Yeah, and here's

511
00:33:45.960 --> 00:33:52.000
another thing. You ought to be perpetually dissatisfied with your

512
00:33:52.039 --> 00:33:58.039
approach and constantly re examining it. All Right, it's this

513
00:33:58.240 --> 00:34:04.480
perpetual dissatisfaction because business always changes, and sometimes you'll do

514
00:34:04.559 --> 00:34:07.559
something that worked last year and it's not working this year,

515
00:34:08.599 --> 00:34:12.480
and so you're always going to re examine different ways

516
00:34:12.519 --> 00:34:21.119
to add that value. And so the following are powerful

517
00:34:21.239 --> 00:34:24.599
questions you should be asking yourself and your team every

518
00:34:24.639 --> 00:34:29.159
single day. So here's one. Can you tell us that

519
00:34:29.400 --> 00:34:32.440
issues our customers have that we can help them with.

520
00:34:33.159 --> 00:34:37.119
So anybody on your team, whether they're answering a phone,

521
00:34:37.480 --> 00:34:41.320
whether they're on a retail floor or a service business

522
00:34:41.440 --> 00:34:45.719
where you're answering the phone or having contact giving quotes,

523
00:34:45.760 --> 00:34:51.599
having contact with customers, identify have those peoples not to

524
00:34:51.719 --> 00:34:55.679
identify the issues that customers are having that you could

525
00:34:55.679 --> 00:35:00.639
potentially help them with, because every customer has a problem

526
00:35:00.880 --> 00:35:04.199
when they call you, and sometimes that problem is not

527
00:35:04.360 --> 00:35:09.800
as visible as you think. Two, how can you make

528
00:35:10.000 --> 00:35:12.880
a bigger splash this month than you did the month before?

529
00:35:14.599 --> 00:35:17.039
These are questions you should always be asking yourself and

530
00:35:17.159 --> 00:35:21.639
asking your team. Three what can we do better this

531
00:35:21.760 --> 00:35:23.880
month to make our customers feel appreciated?

532
00:35:24.280 --> 00:35:24.599
Mmm?

533
00:35:28.800 --> 00:35:33.119
Here's and here's the last one. What can I do better?

534
00:35:33.239 --> 00:35:36.719
What can we do better to meet their needs than

535
00:35:36.760 --> 00:35:39.559
my rivals do? Right now? So? How can we do

536
00:35:39.639 --> 00:35:43.840
better than the competition does in meeting these specific needs

537
00:35:43.840 --> 00:35:44.840
that our customers have?

538
00:35:46.320 --> 00:35:49.239
Great questions, Michael, And another kind of quick question, just

539
00:35:49.280 --> 00:35:53.159
to pick your brain on this, giving your vast experience,

540
00:35:53.719 --> 00:35:58.199
how often should a business do customer appreciation events and

541
00:35:58.480 --> 00:36:01.320
or customer status faction surveys?

542
00:36:01.800 --> 00:36:07.360
Oh, that's excellent. That's an excellent question. Well, with respect

543
00:36:07.400 --> 00:36:11.840
to appreciation events, it would be nice if you could

544
00:36:11.840 --> 00:36:18.239
do those twice a year. And but with respect to surveys,

545
00:36:20.519 --> 00:36:22.920
it depends how you DELI how you do the survey.

546
00:36:23.239 --> 00:36:23.440
You know.

547
00:36:25.159 --> 00:36:32.159
I used to do customer studies, okay, and I used

548
00:36:32.159 --> 00:36:35.519
to do them live, and I used to pay people.

549
00:36:36.039 --> 00:36:39.400
I think it was fifty dollars. That was a while ago, though,

550
00:36:39.480 --> 00:36:41.159
so it might be more now. It will be more

551
00:36:41.199 --> 00:36:50.480
now to come to a a we called it customer event.

552
00:36:50.840 --> 00:36:54.800
We called it some type of customer event. And we

553
00:36:54.840 --> 00:36:58.960
didn't disclose who we were, okay. So we asked the

554
00:36:58.960 --> 00:37:05.679
basic questions about their ski purchasing experience, okay. And sometimes

555
00:37:05.719 --> 00:37:08.079
our name was mentioned as good and sometimes it was

556
00:37:08.159 --> 00:37:12.159
mentioned as bad. And it was very interesting. And I

557
00:37:12.199 --> 00:37:16.280
think that those surveys are the most effective when a

558
00:37:16.360 --> 00:37:20.760
customer doesn't know who's putting it on. Yeah, all right,

559
00:37:21.039 --> 00:37:23.159
because I think that the most they're the most open

560
00:37:23.199 --> 00:37:26.719
and honest. Whereas that the survey comes directly from you,

561
00:37:26.800 --> 00:37:29.960
it's not as it's not as effective now. There are

562
00:37:29.960 --> 00:37:33.800
companies that do this, of course, but I used to

563
00:37:33.880 --> 00:37:36.480
do it with them. I used to have employees do it,

564
00:37:37.800 --> 00:37:40.000
and I thought they did a real good job. We

565
00:37:40.119 --> 00:37:43.320
used to construct the questions beforehand. And then.

566
00:37:45.239 --> 00:37:47.280
I guess they call customer focus groups.

567
00:37:47.280 --> 00:37:48.599
That's probably the best word for them.

568
00:37:48.800 --> 00:37:56.480
Okay, nugget, Yeah, yeah, it's something that Boy was it valuable,

569
00:37:56.639 --> 00:37:59.199
Oh god, because they would you would be able to

570
00:37:59.280 --> 00:38:03.159
identify where your where your strengths are, where your weaknesses are,

571
00:38:03.320 --> 00:38:09.159
not just in your specific business, but also weaknesses from

572
00:38:09.199 --> 00:38:10.719
your competitors.

573
00:38:10.800 --> 00:38:13.199
Say they'll bring up the competitors. Let's say they were

574
00:38:13.280 --> 00:38:17.199
horrible at this, or they were terrific at that, you know,

575
00:38:17.400 --> 00:38:21.800
and so it's it's a real stimulating thing. And we

576
00:38:21.880 --> 00:38:25.679
used to you know, we used to record them. Get put.

577
00:38:25.719 --> 00:38:29.280
We've got permission from everybody to record you know, when

578
00:38:29.280 --> 00:38:33.159
you pay them, uh you usually usually they're very uh

579
00:38:34.000 --> 00:38:37.559
forgiving on any on anything. You know, they're willing to

580
00:38:37.559 --> 00:38:39.440
do them. You know, recording is not a big deal.

581
00:38:44.039 --> 00:38:47.679
So now, uh you know. One of the ways that

582
00:38:48.679 --> 00:38:54.280
you can differentiate your product or service, especially if your

583
00:38:54.519 --> 00:38:58.000
your your product or service is identical to the competition. Correct,

584
00:38:58.360 --> 00:39:02.639
it's by paying special attention to the way you Greek customers,

585
00:39:02.719 --> 00:39:06.519
you really respond to their concerns, the way they make

586
00:39:07.039 --> 00:39:11.360
you know, when they make suggestions. Suggestion boxes are great,

587
00:39:11.400 --> 00:39:14.599
by the way they they're very telling as well. And

588
00:39:14.679 --> 00:39:17.559
you should have suggestion boxes not only for customers but

589
00:39:17.599 --> 00:39:22.840
for employees, and you may differentiate yourself from the competition

590
00:39:22.920 --> 00:39:25.199
and acquire it edge in any one of those areas,

591
00:39:25.360 --> 00:39:27.920
you know, just by the way you greek customers.

592
00:39:28.039 --> 00:39:30.320
It's a really good point, Michael, and we're seeing this

593
00:39:30.360 --> 00:39:32.480
by the way, I mean, just across industries. Just a

594
00:39:32.480 --> 00:39:37.360
really quick nugget for the audience clients, experience customer experience

595
00:39:37.400 --> 00:39:41.280
professionals where all they focus in on is literally the

596
00:39:41.360 --> 00:39:47.599
experience life cycle when they interact with prospects and customers.

597
00:39:47.599 --> 00:39:49.719
So that's a really good point that you share just around.

598
00:39:50.159 --> 00:39:52.639
You can differentiate based on how you greet, how you

599
00:39:52.719 --> 00:39:55.880
engage with customers in a warm way.

600
00:39:56.079 --> 00:39:56.719
I'm really hard.

601
00:39:57.280 --> 00:40:00.519
It all counts, and you know, so you've got to

602
00:40:00.559 --> 00:40:04.400
remember that once the word gets out, potential customers will

603
00:40:04.440 --> 00:40:07.679
only care about what's in it for them, you know,

604
00:40:07.960 --> 00:40:09.480
that's it. At the end of the day, that's all

605
00:40:09.480 --> 00:40:11.639
they're going to care about. So those little things can

606
00:40:11.679 --> 00:40:15.679
meet a lot. And let's put ourselves in the shoes

607
00:40:15.719 --> 00:40:19.239
of a customer and ask ourselves or ask yourself the

608
00:40:19.280 --> 00:40:22.719
following what you know, what benefits may I as a

609
00:40:22.719 --> 00:40:27.159
consumer seeing this, what sets this business apart from others

610
00:40:27.159 --> 00:40:29.800
in the region, and why should people shop here or

611
00:40:31.360 --> 00:40:38.480
I here purchase here instead of somewhere else? And you

612
00:40:38.519 --> 00:40:43.840
know what you get out of is it allows you

613
00:40:43.880 --> 00:40:47.119
to shift your focus from how am I going to

614
00:40:47.159 --> 00:40:50.199
gain more clients? To how am I going to offer

615
00:40:50.320 --> 00:40:55.679
more value? That is a shift, a mind shift that

616
00:40:55.679 --> 00:40:59.000
that has to take place in the mind of a

617
00:40:59.039 --> 00:41:02.519
business owner from how am I going to gain more clients?

618
00:41:02.559 --> 00:41:04.519
Because that's what we're always thinking of all the time.

619
00:41:05.480 --> 00:41:09.639
How am I going to offer more value? That really

620
00:41:09.679 --> 00:41:13.719
should be where the concentration is. And that increase in

621
00:41:13.880 --> 00:41:20.639
value coordinates with an increase in price. You know, even

622
00:41:20.679 --> 00:41:23.760
if you're in a market where increasing price isn't feasible,

623
00:41:23.960 --> 00:41:27.880
increasing the value provides to customers will almost certainly increase

624
00:41:27.880 --> 00:41:30.800
your bottom line even if you're not increasing prices because

625
00:41:30.840 --> 00:41:32.880
you're just gonna do You're gonna You're gonna get and

626
00:41:32.920 --> 00:41:35.239
gain a reputation and get and and get and get

627
00:41:35.280 --> 00:41:35.840
more value.

628
00:41:36.480 --> 00:41:38.400
The result really good point.

629
00:41:40.519 --> 00:41:43.000
I mean, think about it, who do you think would

630
00:41:43.000 --> 00:41:45.280
obtain the line's share of the business if they were

631
00:41:45.400 --> 00:41:48.079
if you were seen in the marketplace as offering the

632
00:41:48.199 --> 00:41:52.079
highest value. I mean, it's just it's just it's just

633
00:41:52.159 --> 00:41:57.239
overwhelming how how important that is and what that means

634
00:41:57.280 --> 00:42:01.519
to price increases. And by the way, some customers have

635
00:42:01.639 --> 00:42:04.039
no problem spending a bit more in a premium service.

636
00:42:04.079 --> 00:42:06.199
You gotta understand that if you find this to be

637
00:42:06.320 --> 00:42:10.000
the case in your company, you could first improve your

638
00:42:10.000 --> 00:42:15.519
service and then increase your prices. And for example, think

639
00:42:15.920 --> 00:42:19.559
of a company as boring as an another dry cleaner example,

640
00:42:19.599 --> 00:42:23.320
who typically builds rapport with customers on a whole rather

641
00:42:23.400 --> 00:42:26.559
poorly if you think about it, But imagine how you

642
00:42:26.639 --> 00:42:29.840
feel if every time you visited the dry cleaner, a happy,

643
00:42:30.280 --> 00:42:33.239
helpful person greeted you by name and brought you a

644
00:42:33.239 --> 00:42:37.079
fresh cup of coffee and a sweet treat. That and

645
00:42:37.119 --> 00:42:42.679
that attitude that they have as being obsessively concerned about

646
00:42:42.679 --> 00:42:46.840
the condition of your garments. I mean that right there

647
00:42:47.719 --> 00:42:53.760
will make just a tremendous difference. I mean, customers of

648
00:42:54.159 --> 00:42:57.239
dry cleaners place a premium on those kinds of unique touches.

649
00:42:57.320 --> 00:43:00.760
This you know, this dry cleaner may boost rates thanks

650
00:43:00.760 --> 00:43:04.280
to these incremental gains and value, and their consumers will

651
00:43:04.280 --> 00:43:07.960
be happy to pay it. Exactly and lastly, if you

652
00:43:08.000 --> 00:43:11.400
can reverse or eliminate the risk of a purchase, you

653
00:43:11.480 --> 00:43:16.079
can easily justify any price like you implement in your organization. Essentially,

654
00:43:16.199 --> 00:43:19.760
just remove the stumbling block that is preventing potential customers

655
00:43:19.800 --> 00:43:23.559
from purchasing from you, and this is called a risk reversal.

656
00:43:25.119 --> 00:43:27.840
To truly achieve a risk reversal, you must take the

657
00:43:27.880 --> 00:43:30.599
burden of the risk off of the customer's shoulders and

658
00:43:30.639 --> 00:43:34.119
place it squarely on your own where it actually belongs,

659
00:43:34.599 --> 00:43:38.679
since you're delivering a product or service, and this will

660
00:43:38.760 --> 00:43:42.119
encourage potential customers to take a step towards committing to

661
00:43:42.199 --> 00:43:46.679
your business, especially if you can demonstrate superior value over

662
00:43:46.719 --> 00:43:49.960
your rivals and a more compelling case for why your

663
00:43:50.000 --> 00:43:55.599
company should be the market leader. So just think about this.

664
00:43:56.119 --> 00:43:58.239
I want to get into the compliments, but think about this.

665
00:43:59.320 --> 00:44:02.559
The majority of companies in the world offer their goods

666
00:44:02.679 --> 00:44:06.960
with a guarantee that's both vague and painless. What I

667
00:44:07.039 --> 00:44:10.039
mean by that is, if a customer calls you today

668
00:44:10.079 --> 00:44:13.480
and complains about something in a very vehement way, I

669
00:44:13.679 --> 00:44:17.599
bet you're gonna do something for them. I don't care

670
00:44:17.639 --> 00:44:20.320
what it is. You might you might give them a refund.

671
00:44:20.320 --> 00:44:22.960
You might make an alteration, you might give them a

672
00:44:23.000 --> 00:44:26.000
new one, you might redo the whole thing, whatever it is.

673
00:44:27.400 --> 00:44:32.000
But regrettably that's not often reflected in your pitch. Yeah,

674
00:44:32.320 --> 00:44:37.639
so all we're doing is asking you to do the

675
00:44:37.719 --> 00:44:41.199
types of things that you do with angry customers and

676
00:44:41.800 --> 00:44:44.159
just make it, just make it part of your your

677
00:44:44.239 --> 00:44:48.599
presentation exactly. And that's usually this risk reversal.

678
00:44:49.000 --> 00:44:51.880
As they say, preventions better than cure, right, Michael.

679
00:44:52.039 --> 00:44:55.840
That's right, that's a really correct So, Choky, I want

680
00:44:55.880 --> 00:44:58.840
to give you enough time to do our compliment segment.

681
00:44:59.280 --> 00:45:04.480
Absolutely, so look very energized by our business complements segment.

682
00:45:04.519 --> 00:45:06.159
But by the way, Michael, I took a lot of notes.

683
00:45:06.639 --> 00:45:09.000
I think the strategies and the insights that you laid

684
00:45:09.039 --> 00:45:14.480
out for increasing prices strategically and tactically very helpful. So

685
00:45:14.559 --> 00:45:18.639
we got five business compliments. These are business owners coasts

686
00:45:18.679 --> 00:45:20.320
to coast that we want to spotlight.

687
00:45:21.039 --> 00:45:23.400
The first business owners Matt Green.

688
00:45:24.119 --> 00:45:29.119
Matt is an MBA and he is with Ledger Medial

689
00:45:29.239 --> 00:45:34.440
Accounting and Tax and Michael get this. They have six

690
00:45:34.639 --> 00:45:46.599
core values in how they engage client services. Integrity, transparency, ambition, accountability, accuracy,

691
00:45:46.639 --> 00:45:52.039
and efficiency. So kudos to Matt and team just for

692
00:45:52.360 --> 00:45:55.079
the client service oriented work that they do. The second

693
00:45:55.119 --> 00:46:00.920
business owners John Jay with Triple B so BBB Septic

694
00:46:01.039 --> 00:46:06.039
and portable toilets, and look, this is this is tough

695
00:46:06.079 --> 00:46:08.719
work that John and team do, right. I mean when

696
00:46:08.719 --> 00:46:11.440
you're working with septics and portable toilets, I mean you

697
00:46:11.480 --> 00:46:15.000
were doing the Lord's work, Michael Wright. So they started

698
00:46:15.000 --> 00:46:18.760
this in nineteen eighty seven, They've they've been in business

699
00:46:18.800 --> 00:46:23.480
for decades and what's really interesting is just their focus

700
00:46:23.639 --> 00:46:28.119
on the highest level of excellence in how they engage

701
00:46:28.239 --> 00:46:29.119
with their business.

702
00:46:30.480 --> 00:46:33.639
Look, again, kudos to John and team.

703
00:46:33.840 --> 00:46:41.480
The third business owner that will spotlight here Mariano Solace Perez.

704
00:46:41.800 --> 00:46:42.920
I hope I'm saying that correctly.

705
00:46:43.039 --> 00:46:50.760
Mariano Solace Perez with five Star Home Services LLC. Again

706
00:46:51.119 --> 00:46:56.400
focused on small businesses more than almost a decade of experience. Again,

707
00:46:56.639 --> 00:46:59.400
the service that they provide actually really respect this and

708
00:47:00.119 --> 00:47:02.360
out of Southwest Florida, and they've got some other kind

709
00:47:02.360 --> 00:47:05.039
of regions that they focus in on, but very detail

710
00:47:05.079 --> 00:47:10.119
oriented in ensuring that they deliver home services at the

711
00:47:10.199 --> 00:47:14.840
highest level. The next business owner, the old spotlight, Amanda

712
00:47:14.960 --> 00:47:21.000
Nadia Abdel said, and she is with Amanda Nadia Group.

713
00:47:21.400 --> 00:47:25.039
They specialize in off market new construction homes. But Michael,

714
00:47:25.079 --> 00:47:26.760
get this, like, I really love this focus.

715
00:47:27.400 --> 00:47:28.199
Here's their motto.

716
00:47:28.280 --> 00:47:33.719
Their motto is your dream Home Awaits, Your dream home awaits,

717
00:47:33.800 --> 00:47:38.239
like just a really nice image for families looking to,

718
00:47:38.599 --> 00:47:41.800
you know, get a home, even individuals looking to get

719
00:47:41.840 --> 00:47:44.039
a home as well. In the last, certainly not the

720
00:47:44.119 --> 00:47:48.119
least Robin Diamond with fifth and Core. This is a

721
00:47:48.199 --> 00:47:52.039
marketing company and the name just is actually quite philosophical

722
00:47:52.039 --> 00:47:56.880
and poetic, right. The fifth comes from the five senses,

723
00:47:56.960 --> 00:48:00.880
and then the core comes from a Latin phrase which

724
00:48:00.920 --> 00:48:05.559
is just so impactful. It means for the hearts. So

725
00:48:06.159 --> 00:48:09.880
five senses for the heart. This is why they are

726
00:48:10.400 --> 00:48:12.760
such a differentiated marketing organization.

727
00:48:12.840 --> 00:48:14.719
So with that, Michael, I'll toss it back overse you and.

728
00:48:14.760 --> 00:48:16.480
Great, thank you. Chr key. Yeah, I just want to

729
00:48:16.519 --> 00:48:21.440
throw one nugget out here relative to price increases, wouldn't

730
00:48:21.480 --> 00:48:24.440
you like to know if you implemented a price increase,

731
00:48:24.519 --> 00:48:26.880
how many customers you could afford to lose and have

732
00:48:26.960 --> 00:48:30.800
the same profit as you had before the price increase.

733
00:48:31.400 --> 00:48:33.280
That's nothing that I do for my clients and it

734
00:48:33.360 --> 00:48:37.559
increases their confidence in implementing a price increase. For example,

735
00:48:37.800 --> 00:48:39.679
I had a client on the fence in implementing a

736
00:48:39.719 --> 00:48:42.639
certain price increase. So I did an analysis for him

737
00:48:42.639 --> 00:48:45.599
that showed him that he could afford to lose fifteen

738
00:48:45.639 --> 00:48:48.480
percent of his customers and still have the same profit

739
00:48:49.360 --> 00:48:52.639
as he had before the price increase. He said, And

740
00:48:52.719 --> 00:48:55.480
he said, and I quote, no way, I'm going to

741
00:48:55.559 --> 00:48:58.880
lose fifteen percent of my customers. And so he implemented

742
00:48:58.920 --> 00:49:03.519
the price increase, and that analysis kicked him off the fence.

743
00:49:04.440 --> 00:49:07.679
And unfortunately we don't have time to go into detail

744
00:49:07.719 --> 00:49:10.440
on what a position of market dominance is. Once again,

745
00:49:10.480 --> 00:49:13.480
go to Powerful Business Strategies dot com. You'll see one

746
00:49:13.480 --> 00:49:17.000
of our shows dedicated to it. Completely. It's critical in

747
00:49:17.119 --> 00:49:23.239
helping you increase price. And one way to learn, however,

748
00:49:23.440 --> 00:49:26.400
is to go to NeXTSTEP CFO dot net. Click on

749
00:49:26.440 --> 00:49:30.559
the contact us page and fill out the contact form.

750
00:49:30.960 --> 00:49:33.960
In the message section of the form, put the words

751
00:49:34.159 --> 00:49:37.400
book interview and we'll send you a calendar as a schedule,

752
00:49:38.199 --> 00:49:40.159
and we will interview you for the next edition of

753
00:49:40.199 --> 00:49:43.800
our book called Powerful Business Strategies, and you'll gain valuable

754
00:49:43.880 --> 00:49:48.119
insights on the position of market dominance and our conversion

755
00:49:48.159 --> 00:49:51.960
formula well chocky. To get a copy of the book

756
00:49:52.159 --> 00:49:55.880
Powerful Business Strategies, simply go to our website again www

757
00:49:55.960 --> 00:50:00.679
dot NeXTSTEP CFO dot net. It's totally complementary. Until next

758
00:50:00.679 --> 00:50:04.320
Monday at noon Eastern time for Chucky Obio. My name

759
00:50:04.360 --> 00:50:07.960
is Michael Barberita, and remember, don't keep doing what your

760
00:50:07.960 --> 00:50:09.519
competition is doing.

761
00:50:09.960 --> 00:50:14.679
Thank you, you have been listening to Powerful Business Strategies

762
00:50:14.719 --> 00:50:17.639
finding out that everything you ever learned about growing your

763
00:50:17.679 --> 00:50:21.119
business is wrong. Tune in next week and every week

764
00:50:21.159 --> 00:50:24.639
at noon Eastern time on W four CY Radio with

765
00:50:24.800 --> 00:50:29.559
your host Michael Barbarita of Next Step CFO and moderator

766
00:50:29.800 --> 00:50:30.840
Chugy Obio