“The realization of what it takes to create value might break your heart, because it means you have to specialize, take risks, create art, leave a positive impact and adopt generosity in all you do.”
Here is the audio version of this post. Enjoy!
Price and value has been heavy on my mind lately, as I continue to see a wave of discounting of services from hairdressers, salons, education companies, fitness studios and more. I would have to say it is one of the most heartbreaking things for me to see when working with small businesses.
You see, what it tells me, without even knowing you or your business model, is that you have no plan. No brand purpose or promise. You do not value your own services or business.
While doing research for this post, I came across a blog from the great Seth Godin, titled, On Pricing Power, and it opens with this profound statement, which I could not say better myself…
From Seth’s blog…
If you’re not getting paid what you’re worth, there are only two possible reasons:
1. People don’t know what you’re worth, or
2. You’re not (currently) worth as much as you believe
This is probably the most important part of creating an awesome brand. Whether you are premium price or the lowest price, you still need to have a deep understanding of value, price and worth.
There is nothing wrong with promotions, adding value, or special pricing, but if discounting is the foundation of your brand, it’s gonna be a tough, painful road.
Instead of focusing on how little you can offer your services for, begin to focus on what value you bring to the table. And deliver that, consistently. It’s amazing what happens when people are happy with their experience and begin to tell their friends.
Instead of focusing on how little you can offer your services for, begin to focus on content creation that brings a ton of value on social platforms.
Instead of focusing on how little you can offer your services for, begin to focus on your WHY. WHY I would choose you over someone else?
Instead of focusing on how little you can offer your services for, begin to focus on how you are going to be a better businessperson.
Instead of focusing on how little you can offer your services for, begin to focus on healing the part inside you that does not see your worth. By far, the most difficult journey you will take, but so worth it. Just like you.
Love + Awesomeness-
PS: This concept applies to undercharging, overcharging and discounting. Again, it’s about understanding value, price and worth, not delusion or greed.
“Comparison is the thief of joy.”
(image via @jacksonk10 on Instagram)
Here is the audio version of this post. Thank you so much for listening.
As Theodore Roosevelt famously said, “Comparison is the thief of joy.” It can be a thief in business too.
On Saturday, I posted the above image to Instagram with the following message…
“Often when working with small businesses I hear something like this… Well the business down the street is charging this or promoting this or… should I do that? Awesome businesses are created when you define your own purpose, promise, target market, set clear objectives, create a bad ass strategy and execute like a mother … Focus on creating your own kind of awesome.”
It was one of my more liked posts. But this topic requires more time and explanation than an Instagram post. So here goes…
Yes, studying success and awesomeness is important. Learning from the greats, the ones who have consistently shown growth and profitability, the ability to create a strong culture, etc. Having an in-depth knowledge of those who have successfully gone before you, yes, all of that is awesome and important.
However, when we are comparing our business to the one “down the street”, this is where I have issues…
Do you know their business model?
Do you know their strategy & target market?
Do you know their plan?
Do you know their sales?
Do you know their profitability?
Do you know their cost of sales?
Do you know how they are funded?
Do you know how long they will be in business?
Do you know if their clients are happy?
Do you know if their team is happy?
My guess is NO. You do not know. Therefore, how can we even begin to compare our business to theirs? What if we decided to follow a pricing strategy of a competitor that was headed down a road of putting them out of business? Or a promotional program that depleted all cash flow and pissed off clients and team members? OMG, can you imagine?
Before you look around one more time to see what others are doing, take that time to look within. Your own objectives, your plan, your strategy, your P & L, your business model. Start there.
Focus on creating your own kind of awesome. And connect with and learn from people who not only own businesses but grow businesses, for reals.
Love + Awesomeness-
“Make it easy for people to talk about you.”
This is not a story about my beautiful new eyelash extensions, but one of how word of mouth and referrals happen when you truly become a social business. It does not get any more simple (not easy) than this. Here is how the story goes…
I follow larisadoll on Instagram. She is one of the most insanely talented colorists I have seen and has truly mastered the art of content creation, sharing and engagement on Instagram. She is so in demand, she is not even taking new clients. OMG, how many people can say that?
So as you can see in the pic above, she posted about her new lashes she got from the amazing Claudia Rod, miss_c_rod26 at Sinful Lashes. Now let me get something real clear, I had no intention of getting eyelash extensions. In fact, anything on or in my eyes makes me crazy. But I am a student of the social + digital web, and had to see what the fuss was all about, why did Larisa love her lashes so much?
So I quickly clicked on the Sinful Lashes page, and saw that a promotion was happening with Claudia. (I found out later Claudia was just beginning her career as an eyelash extension artist and is working hard on building her biz).
The Sinful Lashes page had a link to their website which allowed me to book online. Immediately. It was SO EASY. Just as it should be in 2014. A simple and seamless user experience. Is your booking process simple and seamless?
I was so excited for my new lash experience and to meet Claudia. She was so professional, sweet and insanely talented. She also, as professionals do, educated me on caring for my new lashes and recommended all the Sinful Lashes products I needed to care for them. Did I invest in the products she recommended? You bet I did. I just invested time and money into my new lashes and want to be sure they stay awesome in between visits. And yes, there will be more visits. Every three weeks to get a touch up.
But the story does not end there. Of course I had to share my experience on Instagram with all my beautiful followers and now I am writing a blog about my experience.
This is how word of mouth and referrals work in 2014.
It will never replace offline word of mouth, it only amplifies it. This is as simple as it gets. But it takes commitment, time, energy and consistency. It takes creating an awesome offline experience. It takes engaging on the platforms your clients (and potential future clients) engage on. It takes making it easy for clients to talk about you.
Thank you to Sinful Lashes, Larisa Love, and Claudia Rod for the experience and for creating awesome on my lashes. If you are in or around LA or planning on visiting, well, you know what I am going to say… book a reservation with Claudia at Sinful Lashes.
Love + Awesomeness-
Small business isn’t for the faint of heart. It’s for the brave, the patient and the persistent. It’s for the overcomer. -Unknown
Here is the audio version of this post. Thank you so much for listening. Enjoy.
Not everyone is meant to be a small business owner. And that is OK. There are leaders and followers, owners and team members. We each play a very important role in the world, no matter where we sit in it. After decades of working with and for owners, and now being one, I have learned a ton about what it takes to be an owner.
The owner arrives earlier.
The owner stays later.
The owner serves.
The owner leads.
The owner creates leaders.
The owner seeks.
The owner struggles.
The owner shines.
The owner is grateful.
The owner creates.
The owner gathers.
The owner connects.
The owner is consistent.
The owner is compassionate.
The owner communicates.
The owner coaches.
The owner gets coached.
The owner engages.
The owner empowers.
The owner listens.
The owner is honest.
The owner invests.
The owner fails.
The owner succeeds.
The owner learns.
The owner responds.
The owner commits.
The owner sources.
The owner solves.
The owner sacrifices.
The owner is passionate.
The owner perseveres.
The owner has boundaries.
The owner knows when to say yes.
The owner knows when to say no.
The owner laughs.
The owner loves.
The owner cries.
The owner cares.
The owner is brave.
The owner has courage.
Not everyone is meant to be an owner.
(shared with love from Nina)