Businessman consulting young woman in office

Are you ready to start talking price with your consumers? What about packaging? These elements make the first impression on your customers, especially if you’re selling online or in a retail outlet without guaranteed customer interaction. Therefore, how you price and package your offer could be the only way your customer determines whether or not you can deliver on your value promises.

I see many small businesses create an offer of genuine value, only to position themselves as a low-cost provider due to these elements. They use a cheap graphic design, rushed copywriting, or worse — actually, underprice themselves — and end up working their finger to the bone for an undervalued service.

Communicating value is about more than choosing the right price. It’s about justifying that price with your money mindset, your presentation, and the confidence you instill in your end-to-end customer experience. If entrepreneurs are having trouble selling at their given price point, I typically ask these questions to root out the core issue:

What’s your money mindset?

Money mindset is about more than a budgeting plan and pricing strategies. It’s about how you view your finances mentally and emotionally. For example, if you have self-limiting beliefs about your ability as an entrepreneur or about your team, you’re likely to carry these beliefs into the way you present and price your services.

You must first develop a money mindset that accurately assesses your abilities and is opportunity-focused instead of scarcity-minded to position yourself correctly.

How are you supporting that money mindset?

Changing your money mindset doesn’t happen overnight. You need support — both from your own mental practices and from your team — in order to actually act upon those beliefs. I typically recommend entrepreneurs use daily mantras to support their money mindset, as well as motivational resources to boost team morale.

Some of my favorite money mindset books are The Legacy Journey by Dave Ramsey, Thou Shall Prosper and Business Secrets from the Bible by Rabi Daniel Lapin, and 100 Ways to Create Wealth by Sam Beckford & Steve Chandler.

Do your beliefs about your business align with your actions?

Developing the mindset is half the battle. Once you can confidently sell your offer with a realistic understanding of its value, it’s time to put together a package and price that reflect that belief. What you do says a lot more about your business than what you say. If you’re acting from a place of confidence, you’re more likely to achieve the goals you set forth, regardless of what they are.

Do your offer and pricing support your financial goals?

Setting goals in a startup is always a challenge. You often don’t know how high to aim or what to do when your goals aren’t met. But, by choosing a price and packaging that reflects your goals (whether they are revenue-based, lead-based, or simple mission-oriented), you are more likely to achieve them day by day.

You have several options when it comes to setting your price. You can use a cost, competition, or value-oriented price structure, and whichever you choose will determine subsequent strategies for your primary and secondary markets. I recommend using a holistic approach — utilizing all of these factors to select a price that hits the sweet spot — however, the most essential factor is backing up that decision with your attitude, pricing, and marketing plan.

Pricing and packaging are never easy for small businesses. While I can’t make these decisions simpler, I can help guide you toward a more precise understanding of how to make these decisions using your intuition.

Not sure where to start? Schedule a call to ask me anything about pricing, packaging, and developing your money mindset for success, or download this free resource and get immediate answers.

Woman meditating on desk at work

Life has an ultimatum: do we want to live a life of burnout or balance? The good news is that balance is the antidote to burnout. For that antidote to work, you need to understand what it’s made up of. Just as I’ve broken balance into three elements to help combat burnout.

Balance is Energy

Wouldn’t you love to have the physical, mental, emotional, and spiritual energy to accomplish all that you want in life? Burnout zaps your life energy, but balance boosts your ability to tackle any tasks, great or small.

But how do you increase your energy? It’s simpler than you might think… sleep.

According to the Sleep Foundation, in 2020 one-half of Americans are impacted by sleep disorders. Sleep deprivation can cause car accidents, impair judgement on the job and emotional functioning in social and family relationships. Insufficient sleep has an estimated economic impact of over $411 Billion each year in the U.S. alone.

The truth is the answer to better rest is different for everyone. You may need to consult your doctor for the best quality. Or maybe get a new bed or establish new habits. Whatever the solution is, sleep is the best way to get the energy you need to combat the depletion burnout brings to your life.

Balance is Engagement

Burnout leads to disconnection with yourself and others. When you don’t have enough energy to connect heart to heart, it’s easy to become disengaged not only at work but also with friends and family.

I like to use this acronym to help remind me how to engage heart-to-heart with people: CONNECT

Care
Open body language
Notice their needs and passion
Nod
Eye Contact
Childlike playfulness
Touch

“Those who bring sunshine to the lives of others cannot keep it from themselves.” – James Barrie

Balance is Effective

For the first time in 19-years I went skiing at age 41 and thought I was bound to break some bones going down those dangerous slopes. However, I was with some friends who tackled the mountain with enjoyment and enthusiasm, so away we went.

Balance is a lot like skiing down slippery slopes. The more I skied, the more curious I got about how people kept their balance. This made me think of 3 kinds of skiers:

The snow-plow skier. This is my wife, Rhonda. She looked at her skies the entire time as she plowed through the snow and missed the beautiful mountains. She was overly cautious and played it safe. But she got down the mountain.

The second kind is the speedster. I was amazed at how children and teenagers would zoom down the slopes without poles or fear. Their sheer lack of fear kept them balanced. They weren’t afraid to fall yet welcomed the opportunity.

The third is the smooth skier. The skier that found a medium between speed, simplicity and catching the serene beauty of the landscape around us. They took in the journey and the challenge. Balance wasn’t a task, but a state of being for them.

All three were effective at balancing and there is no wrong way to balance here, you just need to find the way that works best for you. Perhaps you even start off one way and finish another.

Find your personal balance on the slippery slopes of work, and you will live and work with speed, simplicity and serenity eventually because balance is effective with practice.

Would you like to hire Brent for workplace training? Request Brent to speak HERE. Download Workplace Training Brochure HERE.

Group of business people with laptop meeting in coffee shop

As a professional, certified coach, you have many niches you can specialize in. Using your strengths can help you determine which niche you’d enjoy. And, perhaps it’s wise to test a few niches to make sure you can create the business model you want.

After determining a niche, or sometimes while testing several, it’s vital that you develop packages that meet the needs of your avatar or primary target client and price the packages accordingly. If there’s incongruence with any of these elements, you may create confusion in the minds of those you want to attract. The result? Lose them.

This process in my experience has been part trial-and-error and part business strategy. I find that I gather information, put it into practice, and iterate based on the results. In my humble opinion, imperfect action is better than perfect inaction. Practice, test, and repeat.

As you coach others, you’ll find that you grow personally and learn alongside your coaching clients. You never arrive; after more than 27,000 coaching sessions I still find that I observe my practice as a novice would, discovering things newly.

As you discover, practice and test, ask yourself some questions. I try to think of coaching offerings as a retailer. Am I a value-driven coach or a luxury coach?

Think about your favorite department store. Some, like Wal-Mart, pride themselves on low prices and mass marketing. Others, like Neiman-Marcus, offer exclusivity and limited inventory. If you’re a mass-market, value-driven coach, you may offer more affordable group coaching. On the other hand, if you are exclusive, your rates will be a lot higher and you’ll focus on one-on-one coaching.

Are you a coach that is trying to be all things to all people? A department store business model? I highly suggest you don’t adopt this! Being all things to all people makes it hard to attract who you desire to serve.

Or are you a specialty store? In other words, you’ve found your niche and stay in your lane. This is the business model I would recommend. And, if you were my coaching client, I’d actually implore you to specialize.

When you compare your coaching practice to a retailer’s business model as I’ve described above, it’s not just about the label. It’s about the level of customer service, pricing, skills, systems, knowledge, and how it’s sold–from the first interaction to the post-coaching service.

Offering a premium service means you can command a premium price and people are willing to pay for it. Finally, make sure you are able to achieve short-term results. Your clients won’t stick around if they don’t see transformation quickly.

If you’d like more information on how to develop your coaching practice, consider taking the Coach Business Builder Masterclass

Woman Work from home healthy lifestyle

 

It’s that time of year. There may be people in your life making resolutions and there may be those who profess, “I don’t believe in ‘New Year’s Resolutions!’. However, after the year we’ve all had collectively I believe January is a good time to reset to find the balance that matters to get this year off to a great start.

The right mind-set starts with goal naming., so I’m going to change it up a bit however, instead of making “New Year’s Resolutions,” let’s be intentional and call them “Whole Year Resolutions.”

Here are 4 Whole Year Resolutions, or tips, for a better work-life Balance:

 

1. Heal Thyself. You can’t fix what you don’t face.

Admit to yourself and one other person where you’re unbalanced or burned out. Practice this all year.

Burnout is a drain on all aspects of life: personal, family, and work. In 2021 Gallup surveys indicated that Manager burnout is getting worse as work-life imbalance continues to heavily impact them. And while burnout has not increased for individual contributors, it hasn’t decreased either (76% of employees report feeling burned out at least sometimes), and last year was a record year for quit rates, so much so it has been called “The Great Resignation.”

Where do you fall in burnout? Do you know what’s causing it?

If you need help identifying your burnout, click here to take this quick inventory.

2. Do No Harm. Remember, put your oxygen mask on 1st.

Take care of one area in your life you have neglected.

We’ve all seen the TV medical dramas and we’ve heard the oath doctor’s and nurses take to “do no harm.” It’s their number one responsibility. I believe we ALL have an ethical responsibility to beat burnout and the best way is self-care. When we allow burnout to remain in our lives, we harm not only ourselves, but the people we live and work with.

3. Boost Morale. Treat others the way they want to be treated.

Show daily gratitude to others in your work life.

Dr. Robert Emmons, the father of gratitude, said, “Gratitude empowers us to take charge of our emotional lives and, as a consequence, our bodies reap the benefits.”

Burnout is both an emotional and physical aspect of work-life balance. Expressing gratitude to others can help balance both of those.

It’s easy to take the time to show small pieces of gratitude. Try sharing written or verbal thank-yous with caring professionals in your life. You never know the impact you will make, but I can promise it will be a great one for you and them.

“Gratitude empowers us to take charge of our emotional lives and, as a consequence, our bodies reap the benefits.”

4. Connect More. Work is like family.

Take the time to get to know your work family.

I can introduce a stranger to my wife or son, and even grand children with ease. I can share what makes them smile and what frustrates them. Can you do this with your co-workers?

Some of us spend most of our days with our co-workers and in some cases that’s more hours in a day than we spend with our family. Taking the time to get to know their strengths, likes and even dislikes help build the connections we need to balance our lives when we are at work.

A great way to do this is to treat a co-worker to lunch, and try talking about things other than work.

One Last Thing for Better Work-Life Balance

Custom graphic. Bar chart showing how engagement, strengths and wellbeing affect Japanese employees. 43% of those with no strengths culture, low engagement and low wellbeing are highly stressed, compared with 1% of those with a strong strengths culture, high engagement and high wellbeing.Lately its clear, burnout is nearly inescapable and it’s taking a bite out of our work-life balance. However, there is one solution I know can make a positive impact for you and your teams.

Knowing your strengths, using your strengths, and leading with your strengths!

In 2017 Gallup study, employees had a 43% chance of having high stress when working in an organization with no strengths culture. However, when a strong strengths culture was present, there was only a 5% chance of high stress. While this doesn’t mean stress is nearly non-existent when strengths are utilized, it does mean anxiety and stress is most definitely higher when they are not.

If you want to know how to engage your employees and reduce burnout, download my Workplace Training Brochure. 

Happy New Year!