On this episode of The Small Business Radio Show…
Segment 1 with Adam Wallace starts at 0:00.
As inflation finally continues to fall, customers are still holding on tight to every last dollar—while some businesses get nervous and slash prices in a scramble to the bottom.
But price wars are nothing but a race to the bottom- warns acclaimed pricing strategist Adam Wallace. There’s a smarter, more sustainable approach: tapping into human nature to reveal what your customers value and will happily pay more for. His new book is called “Beyond the Price Wars: How to Re-Value Your Business and Win Customers – Tips from a Fortune 100 Fixer”.
His message is that customers are value-hunters, not just bargain-hunters. They’ll pay a premium for experiences that save time, solve problems, make them feel good, and more. The key is finding the value that makes your offering irresistible.
We discussed:
- 3 pricing hacks that can increase revenue by as much as 100%
- How to confidently shift the conversation away from price toward value
- Real-world case studies of businesses that are thriving with value-based pricing
- Simple ways to ensure your pricing strategies stand the test of time
- Can you explain the concept of the Monetization Curve and its impact on pricing strategies?
- Can you discuss the importance of novelty in product offerings and how it can be leveraged by businesses?
- How do espoused values and embodied values differ, and how do they impact a business’s offerings?
- How can businesses effectively use the concept of ‘gatekeepers’ in their pricing strategies?
- Can you share some common mistakes businesses make when it comes to pricing and how they can be avoided?
Segment 2 with Patricia Bathory starts at 18:47.
I learned a long time ago that business is all about relationships and being happy and successful in business these days is still about your relationships- with your clients, employees and vendors.
As a psychotherapist and the founder and general manager of an import/export business, Patricia Bathory has a blend of experience that gives her unique insight into the personal and professional problems that entrepreneurs and leaders face every day.
For the past eight years, in addition to running her trading business and seeing clients, Patricia has been researching and studying interpersonal dynamics, including how our relationships directly affect our ability to succeed in business and in life. She believes that by improving our relationship skills and strengthening our connections, we feed the wheel of good and position ourselves to make a lasting impact.
Here is what we discussed:
What are some practical strategies for building and maintaining strong relationships, both personally and professionally? How do these relationships contribute to effective leadership and overall well-being?
In what ways does personal growth influence professional success, and how can leaders create a balance between personal development and career advancement?
In today’s rapidly changing and unpredictable world, how does building and maintaining strong connections help individuals and organizations manage uncertainty and navigate challenges effectively?
As a business leader, personal challenges such as marital issues, health concerns, or parenting struggles can impact work performance. How can strong, supportive relationships play a role in managing these challenges and maintaining effectiveness in a leadership role?
