December is a magical month! I don’t mean the holiday decorations, the cheery music, and the shopping! I mean the magic of looking both backwards and forwards at the same time. It’s the month when CEOS, Owners, and Partners are eager to take the deepest look into the business. Gift yourself and your business with … Continue reading 5 Gifts to Give Your Firm in December
Mel was both happy and frustrated. His company had just recorded the sale that put them $1 million ahead of the past year. In fact, it was ahead of the past three years since revenue had been stubbornly stuck that long. It was a great achievement—and yet, as he looked me in the eye, he … Continue reading Coulda had 1 million 3 years ago
“I hate being ‘that guy’” The CEO complained to me that every single week he had to nag his professionals to complete their time sheets. They’re due one day after the week ends. “I threaten that their checks will be delayed. I offer rewards for anyone who submits early. Nothing seems to work.” I asked … Continue reading Copy My Pricing Process to Increase Revenue
“Susan, you were an Economics professor. What is elasticity of demand and how will it affect our revenue?” This HR consultant read deep into my LinkedIn profile to find this fun fact! It’s a great question with an easily understandable answer. Briefly, elasticity of demand is the concept that describes buying behavior relative to price … Continue reading Demand is always strong for unique qualities
You take pride that your firm delivers life changing IMPACTS to clients. But…buyers can have reservations. If you give them one option, they wonder “Is that all there is?” If you give them many options, they get overwhelmed and just stick with what they know. Years of research concludes that people like “decision simplicity.” Build … Continue reading IMPACT Based Pricing Choice Framework
I talked with a charming, outgoing couple on Saturday afternoon. They told me they’d had a boat they called “Honey Dear.” They had her for 20 years and sold her last year. “What was the best part of having a boat in the family,” I asked. The woman, Kathleen, said they loved two things: Honey … Continue reading Your business needs an anchor and compass
Clients and prospects have needs, wants, and desires. When you understand the differences, and identify which is on the client’s mind right now, you have taken a big step towards engagement. How do you find out? The million dollar question is this: Is there something going on/on your mind that made you think we should … Continue reading Issue Chart and Continuum of IMPACT
“Okay, Susan, I’m committed to adopting IMPACT Based Pricing for my firm. I’ve got the language (see last week’s three steps). How do we turn that into actual dollars?” Love this question! Dollars follow commitment and language. Segment 4 of the 60 Minute Pricing Makeover Mini Course is an analysis of your recent client work. … Continue reading Clients want IMPACTs not hours
“It’s almost New Years, I think I’ll raise my rates on Jan. 1.” “I’m looking forward to the New Year. We raise our rates on January 1 every third year.” “We’ll raise our rates by 20% starting in January. Sent a letter to all our clients last week.” These are word-for-word quotes from a Managing … Continue reading Raise Fees in January? Why Wait?
“I stopped in my tracks when I watched the movie Seabiscuit,” said the newsletter writer. Why? Because the blinders racehorses wear made her think of all the distractions CEOs and Owners face. Why am I sharing this with you? Because I agree and disagree with her points and my disagreements are important you. I know … Continue reading What are your blinders hiding?