Small Business Survival Conversations

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In this episode, Dr. Michael Troyer and Anna Steinfest discuss the importance of improving your ability to influence others as a small business owner. They offer three practical ways to enhance your persuasiveness and increase your chances of success in your business ventures.

The first tip they share is to make your presentation all about the listener, not about you. They emphasize the importance of focusing on the listener's needs and desires rather than just promoting your own products or services. By showing that you understand and care about their needs, you are more likely to gain their trust and support.

The second tip is to use comfortable, casual language when presenting your ideas. Dr. Troyer and Anna explain that using language that is easy to understand and relatable can make the listener feel more comfortable and open to your message. They suggest speaking as if you are talking to a colleague or friend rather than using overly formal or technical language.

Finally, the third tip is to create trust by using visuals in your presentation. Dr. Troyer and Anna highlight the importance of using examples and representations of what you are offering to help build trust and credibility with your audience. They explain that words alone are not enough to convince people, and those visuals can help make your message more tangible and memorable.

Overall, this episode provides valuable insights and practical tips for small business owners looking to improve their persuasiveness and achieve their goals. Tune in to learn how you can make your presentations more effective and engaging!

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Welcome to "Small Business Conversations," the podcast that helps entrepreneurs and business owners achieve success by providing practical advice and inspiring stories. In this episode, Dr. Michael Troyer and Anna Steinfest explore the concept of "less is more" when it comes to designing products and services. They offer three good reasons why simplifying your offerings can be a game-changer for your business.
First, customers often become annoyed when paying for features they don't need or use. By reducing or simplifying the design and number of features in your product or service, you can offer it at a lower price or make it easier to use. This can help you solve a problem or complete a job for your customers more efficiently.
Second, complex products or services can lower the efficiency with which your customers can use them. By evaluating your offerings and simplifying them for customers who are looking for efficiency, you can make it easier for them to get value out of using your products or services.
Finally, products or services that take too long to learn to use can add hidden costs to your business. The time it takes for customers to understand how to use your product or service is part of its price. By reducing its complexity, bloat of features, or the time it takes to learn to use it, you can make your offerings more attractive to customers.
Don't miss this insightful episode that will help you rethink the design of your products or services and stay ahead of the competition. Tune in to "Small Business Cinversations" now!

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In this episode, hosts Anna Steinfest and Dr. Michael Troyer share their four unique tips to help entrepreneurs and business owners grow their businesses. With their extensive experience in business strategy, leadership development, and organizational psychology, Anna and Michael offer practical and insightful advice that can help businesses of any size and industry.
Tip #1: Examine your business away from your business - Anna and Michael explain why it's essential to step back from your business to examine it from a fresh perspective. They offer strategies for identifying areas that need improvement, optimizing resources, and making changes that can have a significant impact on the bottom line.
Tip #2: Put yourself in the customer's shoes - Anna and Michael stress the importance of understanding your customers' needs, preferences, and pain points. They provide tips for collecting feedback, analyzing data, and using customer insights to improve your products, services, and overall customer experience.
Tip #3: Observe, observe, observe and ask, ask, ask - Anna and Michael encourage listeners to be curious and inquisitive about their business environment. They offer techniques for observing and analyzing industry trends, competitors, and market changes, as well as tips for asking the right questions and seeking advice from mentors, advisors, and other business experts.
Tip #4: Explore other industries - Anna and Michael advocate for looking outside your industry for inspiration, best practices, and new ideas. They explain how studying other businesses can help you identify opportunities for innovation, differentiation, and growth, and offer examples of successful cross-industry collaborations.
Throughout the episode, Anna and Michael share real-world examples and anecdotes to illustrate their points, as well as practical tips and resources for listeners to explore further. Whether you're a startup founder, a small business owner, or a corporate executive, this episode has something for you. Tune in and learn how to take your business to the next level!

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Dr. Michael Troyer and Anna Steinfest discuss the four challenges that businesses may face as they grow. They first emphasize the importance of having enough money in reserve to support growth, including external sales growth, timely delivery, inventory management, and internal infrastructure. Secondly, they urge listeners to overcome the fear of delegating tasks to others and recognize that their time is the limit on their business's growth unless they delegate work. The third challenge is being honest with yourself about the potential for growth, with a clear vision grounded in data, customer excitement, and careful observation. Finally, the hosts caution against getting too excited and overestimating the success of their product or service, reminding listeners to stay grounded in reality and check for real enthusiasm from untapped markets. This episode provides valuable insights and practical advice for entrepreneurs and small business owners who are navigating the challenges of growing their businesses.

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Welcome to this episode of our podcast, where we discuss how to improve your presentations. Whether you're presenting to investors, customers, employees, or the community, you want to make sure your message is clear and effective. In this episode, we speak with Dr. Michael Troyer and Anna Steinfest about how to create presentations that resonate with your audience.

Dr. Troyer and Anna Steinfest share their expertise on how to think about your audience when creating presentations. They suggest asking yourself how you can speak most clearly to your audience and focusing on the micro business. They also advise washing out jargon, acronyms, and terms that others don't understand.

The experts also highlight the importance of understanding what your audience needs to learn from you. They suggest telling them what they need or want to know, talking in words they understand, and being short and to the point. They also advise leaving room for questions.

Finally, Dr. Troyer and Anna Steinfest discuss how to ensure that your audience understands why they should care about your presentation. They suggest showing your passion but also making sure your presentation is about their excitement. They advise explaining how your words will improve their lives and how they will benefit.

Join us in this episode as we learn from Dr. Troyer and Anna Steinfest how to create powerful presentations that will engage your audience and leave a lasting impact.

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Today Dr. Michael Troyer and Anna Steinfest will share tips and tools to master your networking skills. 

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Join Dr. Michael Troyer and Anna Steinfest for a quick and actionable podcast episode on maximizing your marketing efforts in just ten minutes!

In this episode, you'll learn practical tips for identifying your target audience, creating a strong value proposition, and tracking your marketing campaigns. You'll also discover some useful tools and resources to help you save time and improve your results.

Don't miss out on this opportunity to level up your marketing game in just ten minutes! Tune in to the podcast and get ready to take your marketing strategies to the next level.

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The first essential step is to develop financial projections that accurately reflect the business's revenue, expenses, and cash flow. Steinfest and Dr. Troyer discuss the importance of creating multiple scenarios to account for different outcomes and provide guidance on how to create projections that are realistic and useful.

The second step is to plan for contingencies. Steinfest and Dr. Troyer stress the need for small business owners to anticipate and prepare for unexpected events, such as a sudden drop in revenue or a supply chain disruption. They offer practical tips for developing contingency plans to help businesses weather unexpected challenges.

The third essential step is to learn to monitor and adjust. Steinfest and Dr. Troyer explain why it's crucial for small business owners to regularly review financial performance and adjust their strategies accordingly. They provide guidance on how to use financial data to make informed decisions and pivot quickly when needed.

Throughout the episode, Steinfest and Dr. Troyer share real-world examples and practical advice for small business owners. They also offer additional resources and recommendations for businesses that want to learn more about financial survival strategies.

Overall, "Three Essential Steps in Financial Planning for a Small Business" is a must-listen for any small business owner who wants to ensure the survival and success of their business in today's challenging environment.

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In this episode, we explore small businesses' three unique advantages over their larger counterparts. We dive into the power of transparency and how it can build trust and loyalty within a small business, creating a culture of openness and mutual support. We also examine the benefits of collaboration and how small businesses can foster idea-sharing and innovation through their tight-knit teams. Finally, we look at the advantage of adaptability and how small businesses can quickly learn from mistakes and pivot their strategies, which larger organizations often struggle with. Join us as we uncover small business success secrets and how these advantages can help you thrive in today's competitive market.

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Welcome to our new podcast episode, and in this episode, we'll be sharing four key lessons that every small business owner should know to succeed.
The first lesson we'll discuss is the importance of a profit plan. 
Our second lesson is to revisit your lending needs in good times. 
Third, we will discuss the importance of starting with small, steady steps. We'll explore how small business owners can avoid getting overwhelmed by their goals by breaking them down into manageable tasks. 
Finally, we'll share advice on setting circuit breakers when it's time to call it quits. 
Whether you're a small business owner, an entrepreneur, or someone interested in starting their own business, this episode is for you. Join us as we explore these valuable business lessons and gain insights to help you navigate the challenges of entrepreneurship and set your business up for success.