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Future Proofing Your Business With Cathy Smith and Jackson Millian
In episode 210, Cathy Smith welcomes Jackson Millian from Aureus Financial. Their discussion aims to delve deeper into the topic of future-proofing businesses, which began during the show's 200th episode.
Jackson Millian shares his perspective on the evolving market conditions. He compares the current business environment to that of the late 1970s to early 1980s, mentioning that despite being born in 1989, he's acquainted with past trends, believing that if one fails to learn from history, they're bound to repeat it.
Millian speaks on how the economic landscape has shifted. Over the past 15 years, since the global financial crisis, businesses have operated in relatively favourable conditions. However, the golden era is seemingly over. The current phase necessitates businesses to mature and evolve, emphasising the need to build a financial "moat" around them.
Cathy and Jackson discuss the changing dynamics of the business world. They touch on how the internet made it much easier for individuals to start businesses, but also on the challenges that have arisen, especially in terms of finances and cyber issues.
Millian introduces a framework he developed, the "profit pyramid." He believes that for a business to truly succeed, it requires three essential components:
Millian introduces the "profit pyramid" framework, focusing on:
- Profitable positioning: Positioning businesses in a market to maximise perceived value.
- Pricing and packaging: Once a firm position is established, price becomes an outcome of effective value communication.
Drawing from his experiences in Far North Queensland, Millian underscores the value of punctuality and clear communication in today's business world. Cathy agrees, noting that these fundamental principles elevate businesses in today's competitive landscape.
In conclusion, businesses need to stay agile and prioritise their positioning and value proposition in the ever-evolving market.
Small Business Talk by Cathy Smith brought to you by CATCO Enterprises.
Support the show: https://smallbusinesstalk.com.au/
See omnystudio.com/listener for privacy information.
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By Cathy Smith
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In episode 210, Cathy Smith welcomes Jackson Millian from Aureus Financial. Their discussion aims to delve deeper into the topic of future-proofing businesses, which began during the show's 200th episode.
Jackson Millian shares his perspective on the evolving market conditions. He compares the current business environment to that of the late 1970s to early 1980s, mentioning that despite being born in 1989, he's acquainted with past trends, believing that if one fails to learn from history, they're bound to repeat it.
Millian speaks on how the economic landscape has shifted. Over the past 15 years, since the global financial crisis, businesses have operated in relatively favourable conditions. However, the golden era is seemingly over. The current phase necessitates businesses to mature and evolve, emphasising the need to build a financial "moat" around them.
Cathy and Jackson discuss the changing dynamics of the business world. They touch on how the internet made it much easier for individuals to start businesses, but also on the challenges that have arisen, especially in terms of finances and cyber issues.
Millian introduces a framework he developed, the "profit pyramid." He believes that for a business to truly succeed, it requires three essential components:
Millian introduces the "profit pyramid" framework, focusing on:
- Profitable positioning: Positioning businesses in a market to maximise perceived value.
- Pricing and packaging: Once a firm position is established, price becomes an outcome of effective value communication.
Drawing from his experiences in Far North Queensland, Millian underscores the value of punctuality and clear communication in today's business world. Cathy agrees, noting that these fundamental principles elevate businesses in today's competitive landscape.
In conclusion, businesses need to stay agile and prioritise their positioning and value proposition in the ever-evolving market.
Small Business Talk by Cathy Smith brought to you by CATCO Enterprises.
Support the show: https://smallbusinesstalk.com.au/
See omnystudio.com/listener for privacy information.