Dec. 24, 2024

Premium Pricing Power: Why Discounting Is Killing Your Business

Premium Pricing Power: Why Discounting Is Killing Your Business

This focuses on specifically how to shift from competing on price to commanding premium rates.

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

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This focuses on specifically how to shift from competing on price to commanding premium rates.

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). Powerful Business Strategies is viewed on Talk 4 TV (www.talk4tv.com).

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WEBVTT

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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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make no recommendations or endorsements for radio show programs, services,

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or products mentioned on air or on our web. No

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liability explicit or implies shall be extended to W four

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CY Radio or it's employees are affiliates. Any questions or

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comments should be directed to those show hosts. Thank you

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for choosing 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's your host.

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Resident of NeXTSTEP CFO Michael Barbarita and joining Michael for

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today's show as an executive moderator is chooky obia.

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Yes, this is chook in.

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I believe that gratitude is undefeated and growth is about

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the next step, and it is an honor for me

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to moderate today's discussion with my good friend Michael.

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Michael, how are you great, Chokey, how are you?

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I'm doing well. Yeah.

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It's the holiday season, so I am in a gift

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giving mode.

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How about that, Michael.

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That's pretty good. That's pretty good. Those are good moods

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to be in. Okay.

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So, as Jokey said, my name is Michael Barbery, the

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president of Next Step CFO, and next Step CFO is

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a fractional CFO and strategic implementation firm, and our vision

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

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and consistent profits to build a legacy and the life

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they desire. Our mission is dedicated to guiding small business

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owners to leveraging their time, exploding their profits, and building

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a meaningful legacy. The show Powerful Business Strategies in our

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book of the same name, is a step towards accomplishing

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that vision and mission.

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So with that, I.

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Would like to hand it back to my co author

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and moderator for the show, checky Obia.

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Michael.

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Look, I'm really excited about today's episode, Premium Pricing Power,

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Why discounting is killing your business? And before we get

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into the insights, Michael that you've prepared, just I want

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to note to the audience quick disclaimer note Michael and

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I are both affiliated with a number of different organizations.

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I currently serve as the managing director of business Development

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for Vetterprice, a global business focused law firm. In addition

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to that, it's truly an honor to collaborate with Michael

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to moderate business roundtables coast to coast and document those

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insights for our book, Powerful Business Strategies. And please note

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that the views expressed on this show are personal views

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based on our successful experiences and my mission as a

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fearless moderator to ask the right questions to help you

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the listener, learn the best strategies that the competition isn't doing.

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With that, back over to Michael.

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Thank you chokey.

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So I like to start with little inspirational comment as

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well as a business tip that I think would be

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very valuable, especially for those business owners who don't have

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a big advertising budget. But what struck me this morning

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is when I was driving and passing all these businesses

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opening up for the day, I was thinking that behind

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every open sign, you know, every every establishment that was open,

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it's someone who decided to bet on themselves, someone who

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looked at the safe path and said not for me.

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I'm going to create something. And these aren't just businesses,

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their dreams made real. That restaurant you know, someone stayed

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up late perfecting recipes while their friends were out there

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having fun. That auto shop someone had, you know, someone

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learned every car system inside and out while others were

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watching TV. That small tech company where someone codd through

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the night while their kids were sleeping. Every successful business

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started with a single, brave decision to stop following somebody

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else's rules and stop writing your own, to trade security

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for possibility, to build something that matters. And here's what's

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some here's what's amazing when when times get tough, when

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others quit, you just work harder, you think smarter, you

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dig deeper, because that's what business owners do.

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We don't just chase success, We create it.

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Yes, So before I get into the topic of our

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show today, I do want to share what I consider

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to be a very valuable business tip, especially for those

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solopreneurs who don't have big ad budgets, or any small

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business who is struggling and needs to pick up their

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sales a little bit. And this is this is definitely

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one of those tips that your competition isn't doing. So

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let's just Suppose you're an electrician who just got this

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glowing review from a customer named Sally Jones about her

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new generator installation. So instead of letting that review just

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sit on Google or Yelp, turn it into neighborhood gold.

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And here's how.

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So you send personalized letters to twenty homes around Sally's address,

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so twenty homes around her neighboring address, and you sit

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in that letter, you say, your neighbor, Sally Jones had

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this to say about her generator installation, and you include

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her review, and you also include at the end your

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market and your position of market dominance at the end

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of the letter, or your unique selling proposition. And why

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does this work so well? Well, people trust their neighbors

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recommendations more than advertisers, more than regular ads, you know.

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And it's targeted to the exact neighborhood demographic you want

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to be in because you just serviced the customer in

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that neighborhood. And the cost is minimal, it's just printing

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and postage. The timing is when when one homeowner gets

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a generator, others seem to follow kind of a keeping

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up with the Joneses syndrome, and so this is a theory.

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You know.

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I've seen small business owners really get something out of

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just one positive review and turn it into multiple new

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customers in the same neighborhood, creating a ripple effect of referrals.

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And we've been checking and I have been interviewing business

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owners for our upcoming book called a Powerful Business Strategies.

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I should say, not our upcoming book, but our next

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edition of our book. Yes, and they you know that,

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And if you'd like to share, and a lot of

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the strategies that we have don't require big budgets, So

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if you'd like to share your insights about how this

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approach might work in your industry among other business strategies

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that your competition isn't doing, you know, we should talk.

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And so you go to NeXTSTEP CFO dot net forward

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slash contact. That's next STEPCFO dot net forward slash contact.

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Fill out the contact form and in the message box

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type book interview and we will schedule it. And that's

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just something a tip I thought I would share this morning.

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There's also something new.

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That I'd like to share as well, chokey And so

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if any listeners out there have a business problem that

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they'd like us to answer or a business question or

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a strategy that you'd like to ask about, please email

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us at ask at NEXTSTEPCFO dot net. That's ask ask

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at NEXTSTEPCFO dot net. And it doesn't matter what the

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business problem is or the question, we will answer it

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for you. There are a couple of things though, that

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we do ask Number one, please state whether it is

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something we can answer on the air or if it

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is confidential, And of course if it's confidential, we won't

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put it on the air.

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We would call you with it. And number two, so

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that we can't call you.

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Please provide your phone number because business problems can be

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complex and we might need more clarity or context behind

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your email. And that email address again is ask at

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NEXTSTEPCFO dot net.

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It's great.

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So today we're going to talk about something that's killing

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your profits and destroying your business, and that's discounting, discounting

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your prices. You know, just last week I was working

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with a client who runs a successful service business. He

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looked at me and said, Michael, I have to lower

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my prices again because my competitors are dropping theirs now.

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And he also added that he's working harder than that.

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We're making less money And does that sound familiar? Well,

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everything you've ever learned about pricing is wrong, and I

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can prove it to you today's show. And did you

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know that companies that compete on price three times more

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likely to fail than those that maintain premium pricing?

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Yet wow?

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Yeah, yeah, most businesses think still think lowering prices is

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the answer to competition and is a great strategy.

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And what's interesting.

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About that is that most profitable companies in any industry

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are usually the ones with the highest prices, not the lowest.

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So over the next forty minutes, I'm going to show

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you exactly how to shift from competing on price to

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commanding premium rates. And I'll show you how one business

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raise their prices by seventy five percent and actually increase

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their customer base and even better, their customers thank them

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for the price increase. And I'm going to reveal what

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I call the premium price formula, a systematic way to

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raise your prices while actually making your customers happier with

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your service. And the best part is, once you understand

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this formula, you will never ever have to compete on

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price again. So grab that pen paper, because I'm about

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to share strategies that will completely change how you think

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about pricing in your business. And if you're driving, don't

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worry about it. You can catch this episode again on

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a podcast on a podcast at Powerful business Strategies dot com.

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So if you're just joining us, we're talking about how

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to command premium prices in your business, and I promise

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to show you exactly how to do it. So let

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me tell you about Alex. Alex runs a successful HVAC company,

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and like most contractors, he was trapped in that price

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war game, constantly matching or beating competitors, pricing, offering discounts,

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running specials, and he was busy, but god, he was

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barely profitable. So he implemented a system called value first

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pricing system. And the first thing he did, which was

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incredibly smart, which with everybody should do, is he analyzed

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why his customers chose HVAC companies, and he found that

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eighty five percent were worried about system reliability, seventy five

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percent were concerned about energy costs, ninety percent feared making

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wrong decisions, and seventy percent wanted peace of mind.

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And instead of competing on.

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Price, he created three tiers and that's the key here,

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you've got to create these tiers of service, tiers of offerings,

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tiers of products. So what Alex did is he created

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what he called an Essential Care tier, and this was

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a basic service.

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It's two seasonal tune ups.

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It included a twenty one point inspection of all the systems,

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filter changes, basic cleaning, and you know, we had the

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standard response time to emergencies, regular inspections. Basic warranty had

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phone support. But then he had an upgrade. That upgrade

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was Total up what he called a Total P Detection tier,

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which included Priority Service, which was the same day response,

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Energy Monitoring.

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Extended warranty, which is a two year coverage.

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On all repairs and parts, where his standard service was

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just one year. He had a twenty four to seven

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emergency coverage and a guaranteed four hour response time with

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no overtime charges. And then he did these seasonal tune ups,

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which was a quarterly comprehensive system optimization inspection. And then

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he also in this tier, he also said that there

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was fixed pricing for two years and of course no

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surprise fees. And then he had this upgrade called Premium

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Peace of Mind tier, which was instant response two hours

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guaranteed versus four system monitoring, which is real time performance

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tracking of all of all their systems, a lifetime warranty

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pleat coverage on all repairs and maintenance. This was instead

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of the two and four year guarantees, I'm sorry, the

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two and one year guarantees, and then energy guarantees if

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the bill increased. Listen to this one. He had an

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energy guarantee and his premium service here where if the

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bill increased, they would pay the difference.

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So if that if the amount of amps or whatever.

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They use in that business increased per amp, they would

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pay the difference. I was shocked to see that. And

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then free repairs, all repair costs included in the membership

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and annual upgrades. And then Sandra who had this cleaning service,

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she created these comprehensive experienced tiers. And I'm going to

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try to cover as many businesses as i can with

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the time that we have, because a lot of people

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don't think that these strategies can work in their particular business,

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and I'm telling you they can. So Sandra who had

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that cleaning service, she created this comprehensive, these comprehensive experienced

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tiers where she had a basic cleaning, where it was

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a standard cleaning, a thorough dusting of all surfaces, edge

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vacuuming of all floors, complete bathroom sanitation. And then from

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a scheduling standpoint, in that basic tier, she had consistent

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weekly or bi weekly time slots with the same team.

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It was kind of the regular scheduling that she always

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has done. And then basic products, which included professional grade

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cleaning solutions, a quality checklist, and a twenty five point

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inspection after each clean. Then she had an upgrade to

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a healthy Home tier, and it included deep sanitation where

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a hospital grade disinfection of all services including doorknobs, light switches,

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and high touch areas.

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She had air.

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Purification which included what's called a heap of filtering, cleaning,

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vent sanitation, and air quality testing which nobody does in

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the cleaning business. Allagen control which was specialized treatment for

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dust mites and pollens, and health reporting a monthly detailed

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report on the air quality improvements, bacteria reduction and alligen levels.

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And then she came up with this total transformation tier,

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so everything in the whole healthy home tier plus custom

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storage solutions, seasonal cluttering services I'm sorry, decluttering services, space optimization,

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a cleaning education which included family workshops on maintenance, stain removals,

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green cleaning techniques. And then she had this lifetime a

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lifestyle consulting which created personalized systems for maintaining cleanliness between visits,

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including family chort shots, which I was interesting. And what's

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fascinating is that in both businesses, customers actually thanked them

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for offering these premium options because they just weren't selling

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services anymore. They were selling solutions to real problems. And

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so let me explain exactly why this teared pricing approach

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works so powerfully for both businesses. For Alex's HVAC company,

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the teared system worked for three critical reasons. It shifted

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the entire conversation away from price comparisons and when customers

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were set. When competitors were saying will beat any price,

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Alex was saying, choose your level of protection. This immediately

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elevated his company above the price focused competition. Second, it

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aligned perfectly perfectly without customers actually think about hvac because

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he asked at the beginning. You see, nobody wakes up

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wanting to spend money on their HVAC system, but what

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they want is reliability and peace of mind. And so

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by creating these packages that directly addressed these emotional needs,

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Alex made price secondary to value. And then third, and

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this is really fascinating, the tiered system actually made sales

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easier because when customers could see all three options side

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by side, they could make their own value decisions. And

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instead of Alex's team trying to convince customers to spend more,

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customers were convincing themselves by choosing higher tiers. And for

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Sandra's cleaning service, the success came from three different factors. First,

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she completely changed the category that she was competing in,

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So instead of competing with every cleaning service in town

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on price per hour, she created a new category called

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home health and organization. This meant customers stopped comparing her

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prices to competitors because nobody, nobody else was offering these

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comprehensive packages. And then second, she tapped into deeper customer motivations.

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People don't just want to clean house. They want a

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healthy home, and they want to feel organized, and they

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want to feel like they're taking care of their family.

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So her tears addressed these emotional needs that went way, way,

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way way beyond basic. Third, she built an internal upsell

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opportunity where customers who started with basic clean got to

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see the results the neighbors were getting with higher tiers,

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and this created design to upgrade without any sales pressure.

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So the key insight from both examples is that when

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you structure your pricing tiers correctly, you're not just offering

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different price points, you're offering different levels of transformation for

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your customers. And because of the customers, is such an

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important topic, Trikey.

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Was there any questions in the chat?

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Yes, absolutely so, Michael, Look you've struck a chord with

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this topic.

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To be honest, let's start with this question.

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So some business owners might be worried that creating premium

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tiers will drive away their existing customers. How would you

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recommend handling that transition with current clients.

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Yeah, that's a super dupid question, chooky.

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Actually, what we found is that existing customers off have

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become your biggest advocates for the new pricing tears. But

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the key is and how you roll it out, and

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let me share exactly how you do this. So, first

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you want to grandfather your existing clients at their current

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pricing for a set period, maybe ninety or one hundred

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and twenty days. But here's the crucial part. You show

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them the new tiers and explain that while they can

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stay at their current level, they now have options for

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even better results and more value. And let me give

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you an example. So a business owner in the trades

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was worried about the same thing. So he went to

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his existing clients and said, because you've been with us,

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you get first access to these new service tiers. Plus

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you can keep your current pricing for the next ninety

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days while you decide which tier works best for you.

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And what's fascinating is that about sixty percent of its

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clients I'm sorry it's existing clients actually chose to upgrade

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to a higher tier voluntarily because they saw the additional

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value they could get.

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And they wanted it.

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And they weren't price shopping anymore. They were value shopping.

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So the key is to present the tiers not as

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a price increase, but as an expansion of options. You're

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not taking anything away, you're giving them more choices. And remember,

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people love to buy, they just hate to be sold.

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And when you do it in this way, you're letting

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them choose to upgrade rather than forcing them to pay more.

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So yeah, So before I continue with this discussion, we're

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going to take a ninety second break. Hey there, business owners,

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let me ask you something. Are you tied of blending

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in with your competitors, frustrated with slow growth and slim margins. Well,

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00:21:17.759 --> 00:21:20.920
I've gotten news for you. Everything you've ever learned about

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00:21:21.000 --> 00:21:25.440
growing your business is wrong. But don't worry. I'm here

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to let you in on a secret weapon, your position

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of market dominance. It's what sets you apart, makes you irreplaceable,

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and has customers lining up at your door. My name

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00:21:36.279 --> 00:21:39.880
is Michael Barbarrita from Next Step CFO. I know what

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00:21:39.920 --> 00:21:43.240
you're thinking. Sounds great, Michael, But how do I find

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my position of market dominance? Well, that's exactly why we've

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00:21:46.920 --> 00:21:50.759
created our game changing implementation program called Next Step to

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00:21:50.839 --> 00:21:54.279
Market Dominance. In just ninety days, we'll guide you step

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00:21:54.279 --> 00:21:57.279
by step to a position of market dominance by uncovering

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your unique strengths that competitors can't touch. By crafting a

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message that resonates deeply with your ideal customer, by building

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a strategy that turns you into the go to expert

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in your field. Now this is in theory. These are

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00:22:10.799 --> 00:22:14.039
battle tested strategies that have helped businesses like you as double,

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00:22:14.119 --> 00:22:18.640
triple and quadruple their revenue. Don't let another quarter go

359
00:22:18.720 --> 00:22:23.240
by struggling to standout. It's time to dominate your market period.

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Go to NEXTSTEPCFO dot net forward slash contact.

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00:22:27.720 --> 00:22:29.240
Fill out the form and in.

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00:22:29.200 --> 00:22:33.079
The message section put the word dominate or call us

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00:22:33.279 --> 00:22:36.759
at seven eight one three two six three A two two.

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00:22:37.240 --> 00:22:41.240
That's next STEPCFO dot net forward slash contact or call

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00:22:41.319 --> 00:22:44.519
us at seven eight one three two six three A

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00:22:44.640 --> 00:22:45.039
two two.

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Well, welcome back.

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We're discussing how to set up pricing tiers for optimum

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pricing and stop competing with your competition at that race

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to the bottom by lowering prices. So let me share

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another example of the premium price formula in action. So Mary,

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who owns a personal training studio. Like most fitness businesses,

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she was competing on price, offering intro specials, matching competitors rates,

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discounting packages.

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Her average client value was about two.

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Hundred dollars a month and she was working about seventy

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hours a week and she was breaking even. So here's

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what she did when she implemented the premium price formula

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that we that we talked about in the open. So

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step one was problem identification. Once again, she surveyed her clients.

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That's important. It's an important step here because she found

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that eighty percent of her customer base cared more about

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results than price. Ninety percent wanted accountability between sessions because

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they didn't have the will the willpower. Eighty five yeah,

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of course, right, eighty five percent struggled with nutrition, and

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then seventy five percent needed help with recovery. And so

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the second thing was so she did value stacking instead

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of just selling training sessions. She created complete what she

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called transformation packages. She had custom nutrition planning, recovery protocols,

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daily accountability, addressing all these problems that the customer said

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they have, progress tracking and success coaching. And then step

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three is that he implemented before and after photos, measurement tracking,

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performance metrics, success stories, and client testimonials. And then she

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raised prices seventy five percent, but she backed it with

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the results guarantee that if they did all the work

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that they would get the results, progress milestone, success metrics,

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transformation timeline.

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And a satisfaction promise.

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And what happened is her client base actually grew by

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forty percent within ninety days, and her clients started thanking

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her for raising their prices because they were getting better

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results than ever before, and that's all they cared about

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was getting the results. And one client said, you know,

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I'm paying more but getting ten times the value. Another said,

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this is the first time I feel like I'm investing

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in success, not just buying training sessions. And the premium

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pricing formula works because it shifts the entire conversation from

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cost to value. And when you could show people exactly

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how you'll how you'll transform, change, modify, adjust, improve their situation,

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price becomes all totally secondary to the results. So now

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let me show you how this premium pricing strategy works.

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In let's say the professional services industry. SO an accounting

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firm that transformed their business by creating what they call

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success level services. Instead of charging hourly rates like every

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other accounting firm, they created three distinct service tiers. One

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is the essential business support, which was monthly bookkeeping, which

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included bank reconciliations, income and expense tracking, basic financial statements. Secondly,

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under continuing under Essential business support was quarterly tax planning,

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which estimated tax calculations and basic deduction review. Then also

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under this initial basic business support was annual tax preparation, payroll,

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they did payroll for the company and also compliance monitoring

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where they would notify the client with deadlines and they

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filing requirements. And then they had this business growth Accelerator

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which was advanced bookkeeping with depop mental tracking, class tracking,

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and project costing, which is a lot which is what

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a lot of trades want. But also under this growth accelerator,

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second tier was monthly monthly tax strategies, so proactive tax

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planning and advanced deduction analysis and then complete payroll annal

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management including multiple states benefits administration and HI compliance. And

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then they had this other tier called Wealth Builder Elite,

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and this was tax wealth building strategies that was incorporated

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under this tier advanced tax strategies and wealth transfer planning.

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There was a monthly advisory board that had tax consultations

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where they have a couple of tax practitioners on a

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little board answering questions for the client. Complete HR solutions

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with an employee handbook, and policy development and training. Success

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systems which included business valuation and succession, succession exit planning

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and succession strategies, and their average client value increased from

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five hundred dollars to twenty five hundred per month, and

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clients started referring more and more business because they were

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getting real results, not to clients and getting their taxes filed.

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You know, they got real results.

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So and then let me show you this example from

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an insurance from the insurance industry where an insurance agency

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created what they called protection levels where they had basic

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coverage TARE, which was a standard policy review. They had

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claims assistance so if there was a claim they could

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call the agency directly instead of calling the company, and

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then the agency would call the company if necessary, annual

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shopping which was basic carrier comparison, policy documentation which was

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digital storage of the policies with basic explanations, and then

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regular renewal.

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Updates.

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And then they had what they called a complete protection

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tier which was quarterly coverage review which was a risk assessment,

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gap analysis, and coverage optimization, Priority Claims which was a

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twenty four to seven claim support.

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They had also offered negotiation.

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Assistance with the claims which was interesting, continuous rate monitoring,

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some risk management tools for loss prevention and safety training,

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and then personal a personal risk advisor which is a

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dedicated insurance agent, and you had his direct phone number,

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his cell phone number, or his or her cell phone number.

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And then the third tier was security package that they

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called it a security package and it was monthly strategy

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sessions with comprehensive risk planning, claims prevention system with risk

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monitoring and emergency response plan, Premium audit defense which was

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classification reviews and modern analysis for workers, comp executive risk

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management which included personal reliability protection and wealth preservation. And

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then lifetime coverage guarantees which include rate lock options and

471
00:30:33.319 --> 00:30:37.960
coverage commitments. And their average premium per client actually doubled

472
00:30:41.079 --> 00:30:43.880
because they were adding this value. They were charging extra

473
00:30:43.960 --> 00:30:49.920
for these tears. It was outside their regular premium and

474
00:30:50.079 --> 00:30:52.799
client retention was ninety five percent because they were providing

475
00:30:52.839 --> 00:30:56.960
real value just beyond the insurance policies. And so let

476
00:30:57.000 --> 00:31:00.519
me explain why this tiered approach transformed both of these

477
00:31:00.599 --> 00:31:06.240
traditionally priced sensitive industries. For the accounting firm, the tiered

478
00:31:06.319 --> 00:31:11.200
system worked for three powerful reasons. First, it transformed accounting

479
00:31:11.599 --> 00:31:14.920
from a necessary expense into a business investment. Instead of

480
00:31:15.200 --> 00:31:20.119
selling compliance services, they were selling business growth and wealth building.

481
00:31:20.160 --> 00:31:22.680
And this completely changed how clients viewed the cost.

482
00:31:23.599 --> 00:31:27.000
And then second, it eliminated the dreaded hourly rate comparison.

483
00:31:27.039 --> 00:31:30.519
When clients can compare hourly rates with the competition, you know,

484
00:31:30.599 --> 00:31:34.240
they naturally chose the lowest rate. But how do you

485
00:31:34.279 --> 00:31:37.960
compare a wealth builder elite program to a standard accounting service.

486
00:31:38.079 --> 00:31:43.559
You can't, and that's the point. Third, it's created predictable

487
00:31:43.599 --> 00:31:47.720
revenue while increasing value. So clients love knowing exactly what

488
00:31:47.720 --> 00:31:51.039
they'd pay each month, and the firm could staff appropriately

489
00:31:51.640 --> 00:31:53.839
because they knew exactly what each tier.

490
00:31:53.640 --> 00:31:56.200
Required for support. And for the.

491
00:31:56.079 --> 00:32:00.759
Insurance agency, the success came from three different factors. It

492
00:32:00.880 --> 00:32:06.559
shifted the conversation from insurance prices to risk protection. Instead

493
00:32:06.559 --> 00:32:09.079
of competing on premium costs, you were selling peace of

494
00:32:09.119 --> 00:32:13.000
mind and protection, and this made the agency's fees secondary

495
00:32:13.079 --> 00:32:15.880
to the value that they were getting. Second, it turned

496
00:32:15.920 --> 00:32:19.559
a once a year transaction into an ongoing relationship, and

497
00:32:19.599 --> 00:32:23.559
by providing monthly and quarterly services, they stayed relevant to

498
00:32:23.640 --> 00:32:26.319
clients year round, not just that renewal time.

499
00:32:27.000 --> 00:32:27.880
And third, it.

500
00:32:27.839 --> 00:32:31.519
Actually reduced claims because they were preventing problems instead of

501
00:32:31.559 --> 00:32:34.559
just insuring against them, and this made their premium packages

502
00:32:34.920 --> 00:32:37.680
even more profitable because they were reducing their own risk

503
00:32:38.279 --> 00:32:45.359
while protecting clients. So wondering if there are any comments

504
00:32:45.519 --> 00:32:49.880
or questions Chooky on the two examples I gave.

505
00:32:50.160 --> 00:32:54.640
Yeah, certainly, Yeah, quite a bit of comments here and questions. So, Michael,

506
00:32:54.640 --> 00:32:58.119
here's what I'll do. I'll sort of synthesize some of

507
00:32:58.119 --> 00:33:01.440
the comments into a question for you. So you showed

508
00:33:01.599 --> 00:33:06.359
a number of examples where businesses not only raised their prices, Michael,

509
00:33:06.400 --> 00:33:10.759
but they saw an increase in customer and client satisfaction.

510
00:33:11.400 --> 00:33:16.480
Can you explain why customers actually thanked these businesses for

511
00:33:16.720 --> 00:33:17.559
charging more?

512
00:33:18.200 --> 00:33:23.440
Right, Well, that's a fascinating observation and actually, yeah, and

513
00:33:23.480 --> 00:33:29.039
it actually reveals something powerful about human psychology and value perceptions.

514
00:33:29.039 --> 00:33:31.920
So let me break it down why that happens. So first,

515
00:33:32.519 --> 00:33:36.519
when you charge premium prices, you can actually invest in

516
00:33:36.599 --> 00:33:40.519
delivering a better experience. Think about what happened with Alex's

517
00:33:40.680 --> 00:33:46.680
HVAC company. When he raised prices and created tiers. He

518
00:33:46.759 --> 00:33:51.599
could afford to hire better technicians, invest in better diagnostic

519
00:33:51.640 --> 00:33:55.240
equipment and better training. And as customers weren't just paying more,

520
00:33:55.359 --> 00:33:59.480
they were getting more because of that extra support that

521
00:33:59.599 --> 00:34:01.319
he could because he had.

522
00:34:01.160 --> 00:34:03.799
Better technicians, better diagnostics and better training.

523
00:34:04.440 --> 00:34:10.199
And second, higher prices actually changed customer behavior. When people

524
00:34:10.280 --> 00:34:15.119
invest more, they pay more attention and engage more deeply

525
00:34:15.840 --> 00:34:18.559
with what you're offering. So if you look at at

526
00:34:18.599 --> 00:34:22.239
Sandra's cleaning service, when clients moved to her premium tier,

527
00:34:23.159 --> 00:34:27.920
they started following her maintenance recommendations more carefully, They implemented

528
00:34:27.960 --> 00:34:32.000
her organization systems, and they participated in her educational workshops.

529
00:34:32.039 --> 00:34:37.400
They became active participants in their own success. But here's

530
00:34:37.440 --> 00:34:40.039
the thing that Nope, I'm sorry, tricky, what were we say? No,

531
00:34:40.159 --> 00:34:41.599
let's just say that that's a good point. I like

532
00:34:41.639 --> 00:34:45.559
the sort of reverse psychology impact there. Yeah, and what

533
00:34:45.719 --> 00:34:51.159
no one considers is that premium prices change how customers

534
00:34:51.239 --> 00:34:55.719
value themselves. You see, when that personal trainer, I think

535
00:34:55.719 --> 00:35:00.920
it was Mary, raised her prices and created comprehensi of packages,

536
00:35:01.199 --> 00:35:05.320
her clients started taking their fitness goals a lot more seriously,

537
00:35:05.440 --> 00:35:08.440
and they weren't just buying training sessions anymore. They were

538
00:35:08.440 --> 00:35:12.519
investing in their transformation, in their change, in their improvement.

539
00:35:13.360 --> 00:35:15.599
And one client told her, for the first time, I

540
00:35:15.599 --> 00:35:18.079
feel like I'm making a real commitment to myself.

541
00:35:19.719 --> 00:35:20.639
So think about it.

542
00:35:20.679 --> 00:35:22.880
You know, have you ever bought something cheap and not

543
00:35:23.039 --> 00:35:27.039
valued it, then bought something premium and taken much better

544
00:35:27.119 --> 00:35:27.599
care of it?

545
00:35:28.519 --> 00:35:30.239
And that's that's exactly what.

546
00:35:30.119 --> 00:35:33.320
Happens when you position your business correctly at premium prices.

547
00:35:33.320 --> 00:35:37.000
Customers thank you because you're helping them commit to their

548
00:35:37.039 --> 00:35:44.239
own success at a higher level. So before we continue

549
00:35:44.599 --> 00:35:48.360
this discussion, we're going to take a ninety second break. Hey,

550
00:35:48.360 --> 00:35:50.840
their business owners, let me ask you something. Are you

551
00:35:51.000 --> 00:35:54.719
tied of blending in with your competitors? Frustrated with slow

552
00:35:54.800 --> 00:35:57.880
growth and slim margins? Well, I've gotten news for you.

553
00:35:58.599 --> 00:36:02.079
Everything you've ever learned about growing your business is wrong.

554
00:36:02.800 --> 00:36:03.599
But don't worry.

555
00:36:04.079 --> 00:36:06.000
I'm here to let you in on a secret weapon,

556
00:36:06.440 --> 00:36:08.480
your position of market dominance.

557
00:36:08.880 --> 00:36:10.360
It's what sets you apart.

558
00:36:10.119 --> 00:36:13.920
Makes you irreplaceable, and has customers lining up at your door.

559
00:36:14.920 --> 00:36:18.559
My name is Michael Babarrita from Next Step CFO. I

560
00:36:18.679 --> 00:36:21.719
know what you're thinking. Sounds great, Michael, But how do

561
00:36:21.800 --> 00:36:25.480
I find my position of market dominance? Well that's exactly

562
00:36:25.559 --> 00:36:29.320
why we've created our game changing implementation program called Next

563
00:36:29.360 --> 00:36:32.840
Step to Market Dominance. In just ninety days, we'll guide

564
00:36:32.880 --> 00:36:35.360
you step by step to a position of market dominance

565
00:36:35.599 --> 00:36:39.400
by uncovering your unique strengths that competitors can't touch. By

566
00:36:39.400 --> 00:36:42.679
crafting a message that resonates deeply with your ideal customer,

567
00:36:43.039 --> 00:36:45.679
by building a strategy that turns you into the go

568
00:36:45.719 --> 00:36:49.159
to expert in your field. Now this is in theory.

569
00:36:49.320 --> 00:36:52.159
These are battle tests and strategies that have helped businesses

570
00:36:52.239 --> 00:36:56.599
like you as double, triple and quadruple their revenue. Don't

571
00:36:56.679 --> 00:36:59.800
let another quarter go by struggling to standout. It's time

572
00:36:59.840 --> 00:37:05.000
to dominate your market period. Go to NEXTSTEPCFO dot net,

573
00:37:05.039 --> 00:37:08.360
forward slash contact. Fill out the form and in the

574
00:37:08.400 --> 00:37:12.519
message section put the word dominate or call us at

575
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seven eight one three two six three A two two.

576
00:37:16.280 --> 00:37:20.239
That's next STEPCFO dot net forward slash contact or call

577
00:37:20.320 --> 00:37:23.519
us at seven eight one three two six three A

578
00:37:23.679 --> 00:37:27.800
two two. Well, welcome back to powerful business strategies. And

579
00:37:27.880 --> 00:37:32.360
let's look at how this premium pricing approach transform service

580
00:37:32.360 --> 00:37:36.079
based businesses. So an it company created what they call

581
00:37:36.239 --> 00:37:41.199
business technology tiers, and they had essential support which was

582
00:37:41.239 --> 00:37:44.280
a basic help desk nine to five phone and email

583
00:37:44.400 --> 00:37:49.239
support system monitoring. This is at basic service essentially some

584
00:37:49.400 --> 00:37:52.559
data backup and some reports that.

585
00:37:52.519 --> 00:37:55.320
They would share. Then they had this step up.

586
00:37:55.199 --> 00:37:59.159
Called Business Accelerator, and what that was is it was

587
00:37:59.199 --> 00:38:01.599
a priority support. Whether you would get twenty four to

588
00:38:01.599 --> 00:38:05.119
seven help desk and a one hour response guaranteed. You'd

589
00:38:05.119 --> 00:38:08.960
get proactive monitoring which was real time performance tracking and

590
00:38:09.079 --> 00:38:13.000
predictive maintenance. You'd get an advanced backup which was hourly

591
00:38:13.079 --> 00:38:18.199
stab shots and automated disaster recovery. There was enhanced security

592
00:38:18.280 --> 00:38:23.239
with advanced threat protection of virus threat protection. There was

593
00:38:23.280 --> 00:38:27.800
employee training that went along with that, and some strategic

594
00:38:27.840 --> 00:38:33.519
IT planning which was quarterly technology technology reviews, equipment and

595
00:38:33.800 --> 00:38:35.039
software upgrade planning.

596
00:38:35.840 --> 00:38:41.840
And then they had this third tier which was instant response.

597
00:38:41.960 --> 00:38:45.559
You know, they called it a technology management and this

598
00:38:45.760 --> 00:38:49.000
was instant response where they would respond infantly to a

599
00:38:49.039 --> 00:38:53.599
support call. They would have complete system optimization where AI

600
00:38:53.760 --> 00:38:59.559
powered monitoring and automatic scaling. They also had this thing

601
00:39:00.000 --> 00:39:06.960
business Continuity where instant failover so zero downtime was guaranteed.

602
00:39:06.400 --> 00:39:08.159
Which is just amazing.

603
00:39:09.119 --> 00:39:12.559
And then enterprise Security was a twenty four to seven

604
00:39:12.639 --> 00:39:17.199
threat monitoring and an incident response team along with virtual

605
00:39:17.280 --> 00:39:24.400
CIO services which included monthly strategy sessions, innovation planning, and

606
00:39:25.360 --> 00:39:33.199
preventative cyber threat maintenance, and they increased their monthly their

607
00:39:33.280 --> 00:39:36.079
monthly contract from one thousand to thirty five hundred, and

608
00:39:36.119 --> 00:39:40.519
clients started referring them more because well, they were preventing problems,

609
00:39:40.519 --> 00:39:44.480
they weren't just fixing them. And so then there's this

610
00:39:44.599 --> 00:39:51.800
example with from the legal industry and a law firm

611
00:39:51.880 --> 00:39:56.679
created these business protection levels that included basic legal coverage,

612
00:39:57.000 --> 00:40:02.440
basic legal coverage tier, a business legal shield tier, and

613
00:40:02.519 --> 00:40:08.599
an executive legal protection tier, and their clients averaged. The

614
00:40:09.159 --> 00:40:12.639
increased their sale per customer from twenty five hundred a

615
00:40:12.639 --> 00:40:16.239
month to eighty five hundred a month because their satisfaction

616
00:40:16.360 --> 00:40:19.679
scores hit record highs because they were preventing legal problems

617
00:40:19.719 --> 00:40:24.199
instead of just solving them. And the transformation in these

618
00:40:24.239 --> 00:40:30.039
professional services service businesses reveals three three critical insights about

619
00:40:30.079 --> 00:40:35.079
premium pricing For the IT company. The tiered system succeeded

620
00:40:35.119 --> 00:40:38.440
because it changed it from a cost center to a

621
00:40:38.480 --> 00:40:41.800
strategic investment instead of people. Instead of being the people

622
00:40:41.800 --> 00:40:47.159
who fixed the computer problems, they became technology growth partners. Second,

623
00:40:47.639 --> 00:40:53.280
it aligned it aligned pricing with client pain points. Every

624
00:40:53.360 --> 00:40:56.960
business knows technology problems cost them money, and they know

625
00:40:57.079 --> 00:41:01.400
that they could choose their level of protection based on

626
00:41:01.480 --> 00:41:05.639
their risk tolerance. And then third, it made premium prices

627
00:41:05.719 --> 00:41:08.119
feel like a bargain, so when clients could see the

628
00:41:08.119 --> 00:41:12.760
cost of downtime and security breaches, the premium tier actually

629
00:41:12.800 --> 00:41:17.679
looked like the fiscally responsible choice. And for the law firm,

630
00:41:17.840 --> 00:41:21.760
the critical success factors were the fact that first it

631
00:41:21.800 --> 00:41:27.559
transformed legal services into a dreaded expense into strategic sorry

632
00:41:27.599 --> 00:41:31.639
from a dreaded expense into strategic protection, so instead of

633
00:41:31.639 --> 00:41:34.239
calling when there was a problem, clients were preventing legal

634
00:41:34.280 --> 00:41:38.320
issues before they happened. And second, it created predictable revenue

635
00:41:38.440 --> 00:41:44.360
for complex services. Instead of clients worrying about unpredictable hourly revenue,

636
00:41:44.360 --> 00:41:47.360
they got a comprehensive service for a fixed monthly fee.

637
00:41:47.760 --> 00:41:48.679
And the third it.

638
00:41:48.639 --> 00:41:51.480
Allowed the firm to be proactive rather than reactive. By

639
00:41:51.880 --> 00:41:54.840
working with clients regularly, they could well they could spot

640
00:41:54.880 --> 00:41:59.440
potential issues early, leading to better outcomes and happier clients.

641
00:42:00.119 --> 00:42:03.760
And the key lessons from these examples is that premium

642
00:42:03.760 --> 00:42:08.199
pricing works when you shift from selling services to selling outcomes,

643
00:42:08.559 --> 00:42:11.639
and people will pay premium prices when they can see

644
00:42:11.760 --> 00:42:15.920
clearly see premium value So, chrikey, I didn't know if

645
00:42:15.960 --> 00:42:18.159
there were any questions that have come up.

646
00:42:19.000 --> 00:42:21.400
There are there are, you know, picking up on that

647
00:42:21.480 --> 00:42:23.639
last point about seeing premium value.

648
00:42:23.760 --> 00:42:25.079
Let's stay on that for a second.

649
00:42:25.159 --> 00:42:28.360
So a couple of questions from the audience business owners

650
00:42:28.400 --> 00:42:30.679
coast to coast that are listening. So, Michael, in your

651
00:42:31.039 --> 00:42:36.320
value tier system, you mentioned that premium clients often refer

652
00:42:36.800 --> 00:42:42.039
more premium clients. So John's a premium client, gets good service.

653
00:42:42.079 --> 00:42:44.880
Here refers to Sally, who's also a premium client. Now,

654
00:42:44.920 --> 00:42:47.280
why do you think this happens and how can business

655
00:42:47.320 --> 00:42:48.679
owners leverage this effect?

656
00:42:49.719 --> 00:42:53.000
Well, that's one of the most powerful aspects of premium pricing, chocky.

657
00:42:53.360 --> 00:42:56.239
Let me explain exactly why that happens and how to

658
00:42:56.320 --> 00:42:56.760
leverage it.

659
00:42:57.440 --> 00:43:00.400
So, if you think about it, when you pay premiums

660
00:43:00.400 --> 00:43:03.960
and get exceptional results, that's the first thing you want

661
00:43:04.000 --> 00:43:04.239
to do.

662
00:43:06.519 --> 00:43:07.039
I'm sorry.

663
00:43:07.400 --> 00:43:09.079
The first thing you want to do is you want

664
00:43:09.079 --> 00:43:11.000
to tell people about it. And it's like finding a

665
00:43:11.039 --> 00:43:13.840
great restaurant. You know, you don't keep it to yourself.

666
00:43:13.880 --> 00:43:16.719
You tell your friends. Here's the thing. Yeah, you know

667
00:43:16.719 --> 00:43:19.400
you not only tell the friends who you think will.

668
00:43:20.119 --> 00:43:24.280
You usually only tell the friends you think will appreciate

669
00:43:24.320 --> 00:43:26.599
that level of quality. And so let me give you

670
00:43:26.599 --> 00:43:29.480
a quick example. Remember that accounting firm we talked about earlier,

671
00:43:30.119 --> 00:43:33.639
So when they moved to their tiered when when clients

672
00:43:33.679 --> 00:43:39.159
moved to their tiered system, their premium clients, the ones

673
00:43:39.679 --> 00:43:44.199
in the wealth building elite level started referring other business

674
00:43:44.199 --> 00:43:47.880
owners who are also growth minded, because successful people tend

675
00:43:47.880 --> 00:43:52.480
to network with other successful people, and these these referrals

676
00:43:52.519 --> 00:43:55.199
came in pre sold on the value, not the price.

677
00:43:55.840 --> 00:43:59.440
And when someone gets referred by a premium client, they're

678
00:43:59.440 --> 00:44:02.239
not asked sking how much it costs. Instead, they're asking

679
00:44:02.280 --> 00:44:06.280
how soon we can start because they already trust that

680
00:44:06.440 --> 00:44:11.199
the value is there because someone they respect vouched for

681
00:44:11.239 --> 00:44:12.280
it and.

682
00:44:12.239 --> 00:44:13.639
So you know.

683
00:44:13.679 --> 00:44:15.800
And so how you leverage this is, first, you make

684
00:44:15.800 --> 00:44:20.440
sure your premium tier delivers extraordinary value that clients just can't.

685
00:44:20.199 --> 00:44:22.000
Help talking about talking about.

686
00:44:22.320 --> 00:44:25.000
And second, just make it easier for them to refer

687
00:44:25.119 --> 00:44:28.320
by giving them specific language about what makes your premium

688
00:44:28.360 --> 00:44:31.119
service you neque, which, by the way, is a position

689
00:44:31.159 --> 00:44:35.119
of market dominance not to mention that. And third, business

690
00:44:35.159 --> 00:44:39.480
critical create sharable moments in your service delivery that clients

691
00:44:39.559 --> 00:44:40.400
naturally want.

692
00:44:40.239 --> 00:44:41.480
To tell others about.

693
00:44:43.000 --> 00:44:45.880
So you've got to remember that premium clients don't just

694
00:44:45.960 --> 00:44:49.280
have bigger budgets, they have better networks, and when you

695
00:44:49.320 --> 00:44:51.440
serve them well, you're not just getting one client, You're

696
00:44:51.480 --> 00:44:57.400
getting access to the entire circle of influence. Trucky, I

697
00:44:57.400 --> 00:44:59.239
think it's time for compliments and then I have some

698
00:44:59.360 --> 00:45:00.880
closing comments.

699
00:45:01.239 --> 00:45:04.239
Yes, very energized about this segment of the show Business

700
00:45:04.239 --> 00:45:08.239
Complements segment. We'll start with Amy Singleton. She is the

701
00:45:08.320 --> 00:45:12.480
owner of Height Digital Norman. They're based in Oklahoma and

702
00:45:12.920 --> 00:45:18.159
Michael get this. After spending a small fortune on digital

703
00:45:18.239 --> 00:45:22.920
marketers and web design for their own business with candidly

704
00:45:23.000 --> 00:45:27.559
lackluster results, Amy and her husband Joseph decided to make

705
00:45:27.639 --> 00:45:31.360
things happen for themselves and really for other business owners.

706
00:45:31.599 --> 00:45:35.280
Now they are able through their business, Height Digital Norman,

707
00:45:35.800 --> 00:45:39.320
to provide digital marketing with real results.

708
00:45:39.400 --> 00:45:42.079
You can find out more about Amy.

709
00:45:41.800 --> 00:45:47.639
Joseph and the team at Heightsdigital dot Com forward Slash Norman.

710
00:45:48.719 --> 00:45:51.920
The next business owner for us to spotlights and today's

711
00:45:51.960 --> 00:45:57.039
segment is Lucas Mashoda and Milton Mashoda.

712
00:45:57.159 --> 00:46:00.559
It's interesting with Curbs Studio.

713
00:46:00.880 --> 00:46:03.960
Now they are based in Massachusetts, and Michael, you know

714
00:46:04.079 --> 00:46:05.320
Lucas and Milton.

715
00:46:05.119 --> 00:46:08.920
Quite well, and it's just remarkable.

716
00:46:09.000 --> 00:46:09.199
Right.

717
00:46:09.239 --> 00:46:13.840
They are an award winning father and son leadership team

718
00:46:13.880 --> 00:46:18.679
dedicated to excellence in landscape design and build. And when

719
00:46:18.719 --> 00:46:22.719
we think of Curbs Studio, we think of a manifestation, Michael,

720
00:46:22.760 --> 00:46:26.159
of the American dream on multiple levels right now. The

721
00:46:26.199 --> 00:46:29.440
first level the American dream to start a family business,

722
00:46:29.440 --> 00:46:33.000
which is how you started the show today, Michael. The

723
00:46:33.079 --> 00:46:36.880
second level, the American dream to have a dream backyard

724
00:46:36.960 --> 00:46:40.159
where you could host friends and family. And then the

725
00:46:40.159 --> 00:46:43.199
American dream to get the best possible service to take

726
00:46:43.239 --> 00:46:47.119
your home experience to the next level. And this is

727
00:46:47.119 --> 00:46:48.440
really what Crab Studio is about.

728
00:46:48.480 --> 00:46:48.760
Right.

729
00:46:48.840 --> 00:46:54.000
They are a dream team for design and build concepts

730
00:46:54.000 --> 00:46:58.800
and you can learn more at curbsinc dot net. Now, Michael,

731
00:46:58.800 --> 00:47:01.000
correct me, how do you say that last name? Because

732
00:47:01.000 --> 00:47:08.320
I love the shadow shadow brilliant. Yeah, So I'll let

733
00:47:08.400 --> 00:47:10.079
Lucas and Milton know they've got to give us an

734
00:47:10.119 --> 00:47:16.199
a plus uh on that the next uh the next

735
00:47:16.199 --> 00:47:19.920
business owner of Spotlight. And by the way, folks, these compliments,

736
00:47:20.400 --> 00:47:23.760
these business owners are not compensating us for these compliments.

737
00:47:23.800 --> 00:47:25.079
These are compliments that Michael and.

738
00:47:25.000 --> 00:47:28.840
I research, and we really pour our heart and our

739
00:47:28.880 --> 00:47:34.599
gratitude into Alex Lamas with Sexy Trees based in California.

740
00:47:34.639 --> 00:47:36.880
That's the next business owner that we want to spotlight,

741
00:47:37.400 --> 00:47:42.119
and Michael, get this. They are a certified provider of

742
00:47:42.960 --> 00:47:48.559
really impactful tree care, plant care and past remover services.

743
00:47:49.039 --> 00:47:55.639
And here's a client testimonial, a real authenticated client testimonial.

744
00:47:55.880 --> 00:47:56.719
Here's what they said.

745
00:47:56.800 --> 00:47:59.960
We have three bids on a tree project, and our

746
00:48:00.360 --> 00:48:05.000
team were the most knowledgeable and they noted several things

747
00:48:05.039 --> 00:48:09.719
that the other service providers did not mention, including an

748
00:48:09.800 --> 00:48:14.239
infestation in part of our tree which had to be

749
00:48:14.360 --> 00:48:17.920
dealt with. So again, kudos to Alex Lamison's team. You

750
00:48:17.960 --> 00:48:20.800
can find out more about them at sexytrees dot com.

751
00:48:21.400 --> 00:48:24.519
And then the last business owner's spotlight in today's segment

752
00:48:24.559 --> 00:48:29.280
is Brooke Jenkins with Jenkins for Health and Brooke and

753
00:48:29.320 --> 00:48:33.000
her husband Brian were born and raised in Oregon and

754
00:48:33.039 --> 00:48:38.360
they've been married for over two decades. She is committed

755
00:48:38.519 --> 00:48:43.119
as a health and wellness coach and here's her inspirational headline. Michael,

756
00:48:43.760 --> 00:48:48.719
I am very passionate about helping others set achieve and

757
00:48:48.840 --> 00:48:50.480
sustain their health goals.

758
00:48:51.000 --> 00:48:52.639
So, folks, as you prepare.

759
00:48:52.360 --> 00:48:55.840
For a new year, and we're in that time period

760
00:48:55.880 --> 00:48:59.480
where new as resolutions and plans are being made, you

761
00:48:59.519 --> 00:49:02.239
could find out more about Brooke and team at Jenkins

762
00:49:02.239 --> 00:49:03.360
forhealth dot com.

763
00:49:03.360 --> 00:49:05.199
So Michael, with that, I'll toss it back over to you.

764
00:49:05.960 --> 00:49:06.719
Thank you, Chikey.

765
00:49:06.760 --> 00:49:10.119
So let me quickly give you the steps for creating

766
00:49:10.119 --> 00:49:13.079
your own premium pricing tiers. And I call this the

767
00:49:13.199 --> 00:49:18.639
value tier system. And step one is service level definition,

768
00:49:18.679 --> 00:49:21.840
where you create three distinct service levels. You create an

769
00:49:21.920 --> 00:49:26.239
essential level tier which covers basic needs and expectations, and

770
00:49:26.440 --> 00:49:29.880
an enhanced level tier which solves common pain points, and

771
00:49:29.920 --> 00:49:33.960
then a premium level which provides complete peace of mind.

772
00:49:34.679 --> 00:49:38.960
And then step two value communication for each level, so

773
00:49:39.360 --> 00:49:42.880
clearly define the problems that are solved, the benefits that

774
00:49:42.920 --> 00:49:46.400
are provided, the guarantees that are offered, the support that's included,

775
00:49:46.480 --> 00:49:48.679
and any additional value like unique.

776
00:49:48.360 --> 00:49:52.280
Features that separate each tier. And so.

777
00:49:54.039 --> 00:49:56.719
With that we do have to sign off. We do

778
00:49:56.760 --> 00:49:58.840
around out of time. So to get a copy of

779
00:49:58.880 --> 00:50:02.360
the book Powerful Business Strategy, simply go to our website

780
00:50:02.440 --> 00:50:07.920
www dot NEXTSTEPCFO dot net. It's totally complementary. It's our

781
00:50:07.960 --> 00:50:11.199
contribution to the business world and until next Monday at

782
00:50:11.239 --> 00:50:15.119
noon Eastern time for Chicky Obio. My name is Michael Barberita,

783
00:50:15.159 --> 00:50:19.400
and remember, don't keep doing what your competition is doing.

784
00:50:21.119 --> 00:50:24.159
You have been listening to powerful business strategies finding out

785
00:50:24.239 --> 00:50:27.880
that everything you ever learned about growing your business is wrong.

786
00:50:28.159 --> 00:50:31.360
Tune in next week and every week at noon Eastern

787
00:50:31.440 --> 00:50:34.880
time on W four CY Radio with your host Michael

788
00:50:34.920 --> 00:50:39.559
Barbarita of Next Step CFO and moderator Chugy Obio.