By Kathy Svetina
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The podcast currently has 95 episodes available.
Comments? Suggestions? Text the show here!
Getting your pricing strategy right is crucial to business success. And though it might seem as simple as choosing a random number - it’s not. Pricing is more complex and understanding the psychology behind your customers’ buying decisions plays a huge role in getting it right. If your prices don’t match the perceived value of your products, you might lose customers, miss out on sales, or damage your brand's reputation.
So, how do you price your products so you can hit your goals?
What common pricing mistakes should you avoid?
And how do you make sure that your pricing strategy keeps you competitive in the long run?
In this episode, Adam Wallace and I explore the fine “art” of pricing and its critical role in business growth. He shares the psychology behind pricing decisions, the impact of prices on customer perception, and shares strategies to optimize pricing for maximum profit.
Adam is a Price & Earnings Optimization expert and has spent years unlocking pricing power for products and services. After more than a decade as a corporate fixer, joining Fortune 100 leadership teams to capture additional value on multibillion-dollar ventures, he now serves as an interim executive and board member for private companies
We discuss: (timestamps)
03:13 Understanding the psychological and emotional side of pricing
09:30 How pricing affects perceived value and customer satisfaction
10:58 Why copying competitors' pricing strategies can hurt your business
16:05 Customer feedback is just one piece of the pricing puzzle
19:34 How small businesses can win by focusing on niche markets
26:26 Targeting untapped markets by focusing on customer groups
28:54 How our perception of pricing is shaped by what we value
29:15 Why focus and clarity are key to value-based pricing success
31:43 How buyer urgency can impact pricing decisions
32:01 Setting first sale value precedents
38:28 Optimizing Your Pricing to Drive Business Growth
46:01 Actionable Steps to Improve Your Pricing Strategy This Week
Resources:
Adam Wallace, Price & Earnings Optimization:
www.AdamWallace.com
LinkedIn:
https://www.linkedin.com/in/propertyofwallace/
Email:
[email protected]
Author:
(Re)Value: Raise Your Prices and Build Your Legacy (Business Expert Press; July 22, 2024)
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | The Art and Science of Pricing
https://www.newcastlefinance.us/listen/the-art-and-science-of-pricing/
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
Comments? Suggestions? Text the show here!
Customer retention is an often overlooked aspect of business success. When you focus too much on attracting new customers, you risk neglecting the ones you already have. This could mean lost revenues and damaged trust.
To fix this, businesses need to turn to customer journey mapping. By mapping out key interactions, you can improve customer experiences, build loyalty, and increase engagement.
But what is customer journey mapping exactly and how can it prevent customer churn? And what steps can you take to keep clients satisfied and loyal?
In this episode, Samantha Irwin and I explore the power of customer journey mapping and how it can help your business thrive. We break down her six key stages of the journey and share strategies on how you can improve customer retention and satisfaction - so you don’t lose them to the competition.
Samantha is a small business coach & consultant and the creator of the Power of People Academy and the Creating a Culture Deck. She inspires and educates teams to create exceptional Customer Experiences that foster loyalty and advocacy, driving both financial success and heartfelt service for brick-and-mortar businesses. She equips businesses to provide consistently Exceptional Customer Experiences, fostering thriving enterprises and fulfilled staff. Samantha's commitment extends to teaching business owners how to make their establishments preferred workplaces and favored customer destinations.
We discuss: (timestamps)
03:05 - Traditional vs. non-linear customer journey maps
05:39 - The six key steps of customer journey mapping
11:58 - Why customer interaction is crucial for business success
15:37 - Is great customer service personality trainable or innate?
18:52 - How to refine your hiring process to attract the right staff
21:05 - Hospitality as a crucial business skill
21:50 - How online-only businesses can improve customer experience
23:59 - Why curating the customer experience benefits your business
27:21 - Real-life examples of customer experience transformation
34:24 - How culture change improves employee engagement and retention
34:48 - Training hospitality skills to enhance customer satisfaction
36:49 - How curiosity builds customer connections and opportunities
37:31 - The superpower of maintaining energy in customer service
39:34 - Why sometimes you have to 'fake it' to lead effectively
41:04 - One actionable step to improve customer retention
Resources:
Samantha Irwin, Small Business Coach & Consultant, Kaizen Small Business Solutions
https://kaizen.zone/
LinkedIn:
https://www.linkedin.com/company/kaizen-business-coaching-consulting/
Courses + Downloads:
Blog post | Improving Customer Retention with Customer
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
Comments? Suggestions? Text the show here!
Franchise audits are vital for maintaining the financial health of your business. However, many new franchisors find this process challenging, struggling through it due to a lack of preparation and understanding of what it’s all about. This can lead to compliance issues, financial discrepancies, and even damage to the brand’s reputation.
So, what exactly is franchise auditing? How does it work? And why is it so important for the financial health of your franchise business?
In this episode, Stacy Farber and I discuss how to prepare for a franchise audit, what to expect, and strategies for managing your franchise's finances as it grows.
Stacy is a partner at UHY LLP and brings over 25 years of experience in audit and financial leadership experience to her engagements. She is the Connecticut Audit and Attest Practice Leader. and has extensive experience completing financial statement audits, single audits, and reviews and compilations for multiple industries, including franchising entities.
We discuss: (timestamps)
02:26 What is a franchise audit?
04:20 What auditors look for in financial statements
08:00 What negative equity means for your franchise
10:02 How revenue recognition affects your financials
12:56 How long does a franchise audit take?
14:38 How far back should auditors look?
16:45 How often should you do franchise audits?
17:48 What to do if your franchise sale gets denied
18:49 Cash vs. accrual accounting
25:54 Common issues in franchise audits
27:41 Best practices running a franchise
34:03 Actionable tips to get your business franchise audit ready
Resources:
Stacy Farber, CPA, Partner, UHY LLP
https://uhy-us.com/professional/stacy-farber/
LinkedIn:
https://www.linkedin.com/in/stacy-r-farber-cpa-9a3722/
Email:
[email protected]
Related Episodes:
How to Turn Your Business Into a Successful Franchise
How to Pick the Right ERP
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | How to be Franchise Audit Ready
https://www.newcastlefinance.us/listen/how-to-be-franchise-audit-ready/
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
Comments? Suggestions? Text the show here!
Is your business growing but struggling with outdated tools, systems, and processes? ERP systems can help streamline operations and boost efficiency. But, ERP, or Enterprise resource planning, is more than just adding new technology. It requires careful planning and proper change management.
When is the right time to implement an ERP system in your business? How do you get started, and how do you help your team transition smoothly?
In this episode, Allison Cummins and I discuss ERP implementation and why change management is a major part of it. She shares how growing businesses can benefit from ERP systems to streamline operations and how to ensure a smooth transition for your team.
Allison is the Founder and CEO of Blue Outcomes, a boutique consulting firm that specializes in Project and Change Management. She is a trusted advisor for growing companies and is known for bringing transparency and accountability to business transformations.
We discuss: (timestamps)
03:28 When is the right time to consider an ERP system?
05:04 Revenue size for ERP implementation
06:18 Big ERP players vs. smaller systems
07:43 The differences between major ERPs (SAP, NetSuite, Epicor, Microsoft Dynamics)
09:49 Transitioning from smaller ERPs to larger ones
11:55 The cost of switching to an ERP
15:53 Preparing data for ERP implementation
18:34 Data types to include in an ERP system
20:49 How far back should data go in an ERP system?
23:59 Connecting different data systems in an ERP
25:17 Common issues on the people side during ERP implementations
29:44 Preparing staff for ERP implementation
32:16 Stories of successful and unsuccessful ERP implementations
36:27 Causes of scope creep in ERP projects
40:47 Actionable steps for starting the ERP process
Resources:
Allison Cummins, Founder and CEO, of Blue Outcomes
https://blueoutcomes.com/
LinkedIn:
https://www.linkedin.com/in/allisonecummins/
Email:
[email protected]
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | How to Pick the Right ERP
https://www.newcastlefinance.us/listen/how-to-pick-the-right-erp/
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
Comments? Suggestions? Text the show here!
Your small business is poised for growth, but lurking legal risks could derail your success. It’s easy to get caught up in the excitement of growth and overlook the legal side of things. From employment laws and tax codes to those contracts that seem clear until they aren't, any of these can lead to expensive and time-consuming disputes.
So, how do you make sure your business is legally protected? Do you hire a full-time lawyer or a consultant? And are there other ways for you to stay compliant and reduce risks without breaking the bank?
In this episode, Michelle Bomberger and I discuss how you can minimize legal risks in your growing businesses. She shares how small business owners like you can protect themselves legally as the business expands including how to manage vendor and customer contracts, ensure compliance, and address employment issues during the recruitment process.
My guest today is Michelle Bomberger, CEO and Managing Attorney at Equinox Business Law Group. Michelle believes that every business deserves to have the same strategic law advantages as mega-corporations.
Her experience as a business owner and entrepreneur gives Michelle unique insights into the emotional and practical aspects of owning a business and how important legal infrastructure is to growth and success.
We discuss: (timestamps)
02:17 How business owners can minimize legal risk
04:10 Key points in vendor contracts for risk mitigation
06:36 Defining indemnification for business owners
08:36 Must-have items in customer contracts
9:23 Importance of tracking contract expiration dates
13:14 Essential components in employee contracts
16:57 Managing legal requirements for remote employees
18:47 Hiring HR experts for legal compliance
19:55 Integrating contracts, insurance, and business structure
24:37 Instances where the corporate veil can be pierced
27:16 Differences between professional liability and E&O insurance
28:55 Coordinating legal and insurance conversations
34:25 Key discussion points with a strategic legal advisor
36:44 Steps to gain better legal insight and minimize risks
Resources:
Michelle Bomberger, Strategic Legal Counsel, Founder and CEO, Equinox Law Group
https://equinoxbusinesslaw.com/
LinkedIn:
https://www.linkedin.com/in/michellebomberger/
Facebook:
https://www.facebook.com/Equinoxbusinesslaw
Twitter:
https://twitter.com/equinoxlaw
Youtube:
https://www.youtube.com/@EquinoxBellevue
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | Minimizing Legal Risk in Your Growing Business
https://www.newcastlefinance.us/listen/minimizing-legal-risk-in-your-growing-business/
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
Comments? Suggestions? Text the show here!
Great businesses thrive by investing in their people. When companies face tough times, it's often due to a lack of workforce development.
If employees don't feel supported or aren't given chances to grow, it can lead to demotivation, higher turnover, and team dysfunction.
So, what is workforce development? How does it function, and how can you implement it effectively?
In this episode, Michelle Arentz and I chat about why workforce development matters and how creating a positive workplace culture can really boost employee retention and help your business grow. We talk about what makes the recruitment process effective and share some handy tips for small businesses to keep their teams motivated and productive.
My guest today is Michelle Arentz. She is a workforce development consultant and founder of Lazarus Learning LLC. She is a workforce MD, helping companies enjoy a healthy bottom line by focusing on strengthening their hiring, teams, leaders, and cultures. She has woven a career tapestry of over 2 decades between corporate learning and development in both Canada and the US as well as spending 7 years as a high school teacher.
We discuss: (timestamps)
01:50 The negative effects of the lack of intentional culture-building
5:40 The Four core elements of company culture
13:14 Treating employees well for better business outcomes
17:16 Avoiding the "Penny wise and pound foolish" trap
21:09 Employees are an asset, not an expense
26:18 The importance of employee happiness
33:45 Communicating changes effectively
37:40 Developing management skills in small businesses
43:50 One actionable step to move your company closer to your goals
Resources:
Michelle Arentz, Workforce Development Consultant, Founder of Lazarus Learning:
www.lazaruslearning.com
LinkedIn:
www.linkedin.com/in/lazaruslearning
Email:
[email protected]
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | How Workforce Development Drives Business Growth
https://www.newcastlefinance.us/listen/how-workforce-development-drives-business-growth/
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
Comments? Suggestions? Text the show here!
Employee retention lies at the heart of every successful business. It's the lifeline that keeps productivity high and morale even higher, making your team feel valued and appreciated, and motivating them to do their best.
Yet, many companies struggle with keeping their best talent. Even businesses that seem great on paper often face high turnover rates. So why is it becoming harder to retain your employees? Why is this a recurring issue? What makes people want to leave? And what can you do to really show you appreciate them in a personal and relevant way?
In this episode, Kristie Holmes and I talk about what it takes to retain great talent in small businesses. She shares the basics of employee retention strategies and provides practical tips for businesses aiming to build and maintain strong teams.
Kristie is the dynamic force behind The HR Dept. With over 15 years of profound experience in recruiting and Human Resources across a spectrum of industries, she embodies the spirit of innovation and dedication. Her mission to provide tailored HR services ensures that small businesses not only survive but thrive in today's competitive landscape.
Download her HR templates to help you get your recruitment process in place:
https://thehrdeptky.com/resources/
We discuss: (timestamps)
02:49 Why a good retention strategy is important
04:14 Common issues affecting employee retention
07:36 The perceived appreciation gap between managers and employees
08:34 Practical ways for managers to show appreciation to employees
10:02 The impact of public appreciation on company culture
11:07 Monetary and non-monetary methods to appreciate employees
16:09 Showing appreciation to remote teams
17:37 Effective methods for remote team appreciation
21:45 Employee training and development on a tight budget
24:04 Implementing an official mentorship program
25:29 Rewarding employees who mentor others
27:41 Encouraging employee-to-employee appreciation
30:19 Examples of successful employee retention strategies
36:16 Actionable steps to take to foster appreciation and gratitude
Resources:
Kristie Holmes, Owner, The HR Dept, LLC
https://thehrdeptky.com/
LinkedIn:
https://www.linkedin.com/company/the-hr-dept-llc/
Instagram:
https://www.instagram.com/thehrdeptky/
Facebook:
https://www.facebook.com/thehrdeptky
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | How to Retain Your Best Employees
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
Comments? Suggestions? Text the show here!
When your financial records are not accurate or organized, it can lead to poor decisions, financial problems, and stunted growth.
So how do you keep your books clean? What should you look for in a bookkeeper and accountant? And how do you make sure that your financial records are accurate and up to date?
In this episode, Jennifer Yousem and I talk all about the challenges of messy accounting for small businesses. We break down why this is so common, even in this day and age of accounting software and tools, and its true impact on the health of your business. She also shares tips for maintaining clean books to support your company’s growth.
Jennifer Yousem is a Fractional CFO who started her career in equity research. She pivoted into corporate finance for enterprise media and advertising companies and led teams in strategic and operational finance at Sony, Paramount, Clear Channel & Daily Mail. She was part of the team tasked with launching Verizon Hearst Media Partners and as their CFO, helped lead the merger with Complex to form Complex Networks, a multi-platform digital lifestyle brand owned by Verizon and Hearst.
We discuss: (timestamps)
03:06 Discovering messy books
04:50 Common issues with messy books
11:09 Differences between revenue, profit, and cash
16:10 Hiring a qualified bookkeeper
19:49 Tips on weeding out the wrong people in your team
28:05 Optimal month-end closing process
35:17 Actionable steps to take to keep your books organized and accurate
Resources:
Jennifer Yousem, Fractional CFO, I Love EBITDA
https://iheartebitda.com/
LinkedIn:
https://www.linkedin.com/in/jenniferyousem
Instagram:
https://www.instagram.com/yousem/?hl=en
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | Messy Finances and How to Avoid Them
https://www.newcastlefinance.us/listen/messy-finances-and-how-to-avoid-them/
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
Comments? Suggestions? Text the show here!
Expense management is a must for any business. Every dollar spent can either contribute to your growth or drain your resources. And while it seems like a simple thing to do, many businesses struggle with it - causing bigger financial problems down the road. So what can you do to avoid this in your business?
In this episode, John Krebsbach and I go very deep into effective expense management. From managing credit cards and checks to dealing with reluctant vendors, he shares practical tips and real-world examples to help you implement an effective expense management system and protect your growing business.
John is a Principal at Precision Advisors, a business operations advisory firm for companies who are growing or are looking to ignite growth. He is an experienced founder and chief operating officer who enjoys the journey of building high-growth companies with great people. He earned and refined his growth operator skill set in a variety of environments, from co-founding a startup (and shutting it down) to scaling an Inc. 5000 business and building new teams within a global corporation.
We discuss: (timestamps)
02:25 What is expense management and why it matters
05:14 Managing credit card expenses and tracking spending
17:49 Expense management for check and ACH-heavy businesses
26:14 Working with vendors resistant to digital tools
28:15 Implementing expense management processes
42:21 One actionable step to take to implement an efficient expense management system
Resources:
John Krebsbach, Principal, Precision Advisors
https://precision-advisors.com/
LinkedIn:
https://www.linkedin.com/in/johnkrebsbach/
Special offer for listeners of the podcast:
Get a $500 sign-up bonus from Ramp to manage your business expenses: https://ramp.com/partners/precision-advisors
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | Effective Expense Management For a Financially Healthy Business
https://www.newcastlefinance.us/listen/effective-expense-management-for-a-financially-healthy-business/
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
Comments? Suggestions? Text the show here!
Transforming your construction business can be a challenging yet rewarding process.
Is it time to scale up? Well, you've got customers to deal with, suppliers to find, building codes to follow, and a team to keep on point.
All these moving parts directly affect your finances. Things can get chaotic fast, and if you neglect any of these areas, it can really hurt your financial stability and growth.
So, how do you keep everything on track in your construction business?
What areas should you focus on to boost your finances?
And what strategies can you implement to make sure all parts of your operations align with your financial goals?
In this episode, Dominic Rubino and I discuss strategies to elevate your construction business, from specific operational improvements you can make and the financial planning and analysis you need to support your expansion goals.
Dominic is a construction business coach and host of the podcasts “Profit Tool Belt” and “Cabinet Maker Profit System”. He is also a serial entrepreneur, a proud husband and father, and a horrible fly fisherman. In both shows, Dominic shares lessons, tips, and tricks from thought leaders in the construction industry. With Dominic, you’ll get reality, not theory. He uses real -life stories and colorful anecdotes that help you see what the next level looks like and know how to get there.
He’s been a business coach for over 23 years and an Entrepreneur for 25. Over the years he’s had companies in Construction Trades, Contracting, Mail Order, Pharmaceuticals, Real Estate, & Business Coaching. His commitment to you is that you’ll learn more in this interview than most businesspeople do in a year. And he wants you to go and apply it!
We discuss: (timestamps)
02:22 Common problems in construction businesses before coaching
03:26 Key issues for construction businesses aiming to grow
04:39 The benefits of having the right team
07:46 How changing your mindset can drive growth
08:52 Real-life construction case study example
16:25 Business alignment & focus
24:29 Addressing operational problems in construction
25:52 Implementing time tracking for better planning
29:53 Explaining new processes to your construction team
31:18 Actionable steps to boost construction business growth
Resources:
Dominic Rubino, Construction Business Coach and Podcast Host, BizStratPlan Profit Tool Belt
https://profittoolbelt.com/
https://cabinetmakerprofitsystem.com/
LinkedIn:
https://www.linkedin.com/in/dominicrubino/
Facebook:
https://www.facebook.com/ProfitToolBelt
Youtube:
https://www.youtube.com/channel/UCKVBkA9GmALX_J7W3iGIy6g
Podcast:
https://profittoolbelt.com/podcast-dom/
Podcast:
https://cabinetmakerprofitsystem.com/podcast/
Kathy Svetina, Fractional C
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
Don't worry, it's not you—it's your financial setup.
Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan
Ready to level up? Visit newcastle.finance/blueprint
The podcast currently has 95 episodes available.
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