In episode 201 of Small Business Talk Podcast, with Cathy Smith, I bring your attention to the importance of specificity in communication and understanding your audience's needs. This episode's focus is on why you might be experiencing low engagement in your content and how to rectify it.

I discussed how crucial it is to address your audience's pain points in your content and to send out a clear message. Drawing on the analogy of Facebook's beginnings, I explained the importance of starting small and focused with a target demographic in mind. Once this group is catered to adequately, one can consider expansion.

Remembering that being specific with your message does not limit you is also important. I used the analogy of the dartboard to illustrate this - even if you're aiming for the bull's eye, you're likely to attract an audience beyond that immediate target. This approach makes your message resonate with more people while keeping your core audience in focus.

Next, I discussed the importance of defining your ideal customer - someone who values your service, pays on time, and trusts your advice. When creating content, always consider whether it serves this ideal customer. Sometimes, you might find that you're serving multiple different customer personas, which can make it difficult to create a one-size-fits-all content.

I also emphasised the importance of letting go of products or services that no longer serve you or your target audience. This involves constant re-evaluation and adaptation as business environments change. You may let go of some offerings to make room for new ones.

Listen to episode 201 of Small Business Talk with Cathy Smith brought to you by CATCO Enterprises.

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In the 200th episode of Small Business Talk, host Cathy Smith pauses to celebrate and express gratitude towards her loyal listeners, her team, and all who have contributed to the podcast's success since its launch in February 2019. Drawing inspiration from a question posed by Amy Bett in episode 197, Cathy invites a host of special guests to the show to discuss the topic: "How to future-proof your business".

Ian Hawkins, a former guest, highlights the need to recognize one's unique value to their business, extending to colleagues and customers. He suggests building a capable team for those intending to start podcasts, aiding in managing its complexities.

Amy Bett, whose offhand comment shaped this episode's theme, applauds Cathy's achievement. Recognizing the dedication needed to produce consistent episodes, she acknowledges Cathy's accomplishment as a source of inspiration for her own podcast journey.

Guest Kyle Spyrides advises listeners to prepare for challenging times when it may seem impossible to overcome costs, debt, and cash flow issues. Loz McKenzie emphasises the importance of genuine relationships and staying top of mind in your network. Caitriona Forde warns that the biggest risk in cybersecurity is people and urges businesses to train their staff to be vigilant. Jemimah Ashleigh encourages businesses to leverage free PR as a valuable asset.

Ray Milidoni, the person who sparked Cathy's podcasting journey, reminisces about the early days. Wendy Corner advises entrepreneurs to maintain their passion and keep networking. Liz Del Borrello highlights the role of technology as a time-saver and crucial aspect of future-proofing a business. Lastly, Pauline Bright warns that static businesses will become obsolete, advising entrepreneurs to adapt, change, and innovate to stay relevant.

This celebratory episode is not only a milestone for Small Business Talk but also a source of insights for future-proofing businesses and a heartfelt expression of gratitude to the listeners and supporters who have contributed to the podcast's remarkable journey.

Episode 200 of Small Business Talk with Cathy Smith is brought to you by CATCO Enterprises

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Welcome to Small Business Talk with Cathy Smith, Episode 199. In today's episode, Cathy is joined by Jemimah Ashley from the Visibility Lab. They discuss the topic of how to get free PR for your business. Jemimah emphasises the importance of building a personal brand separate from your business brand. Having a strong personal brand allows you to maintain your identity even if you transition to different ventures. Jemimah shares her experience of building her personal brand alongside her business brand, highlighting the significance of connecting with people on a personal level.

The second tip discussed is the need to build a strong personal network. Cathy and Jemimah stress the value of surrounding yourself with people who are smarter than you and can advocate for you when you're not in the room. Building relationships and alliances with influential individuals helps increase visibility and opens up opportunities for free PR.

The third tip focuses on leveraging social media effectively. Cathy and Jemimah talk about the importance of being active and consistent on social media platforms. They suggest posting at least once a day and engaging with your audience through comments and interactions. Social media serves as a crucial tool for establishing visibility and is often the first place people look when researching a business or individual.

Overall, the episode highlights the significance of building a personal brand, cultivating a strong network, and utilising social media to enhance visibility and generate free PR for your small business. Listen to Small Business Talk episode 199 for all these tips and more.

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Episode 198 of "Small Business Talk," I discuss the importance of pricing and how it goes beyond being just a number. Understanding how people perceive prices and aligning them with value is crucial for small business owners.

I suggest a simple approach to setting prices: Determine your desired annual income and divide it by the number of clients or sales needed. This helps establish the relationship between pricing and the required customer base.

Using package deals, rather than relying solely on hourly rates, is beneficial in the service industry. Offering options like three-month or six-month packages allow customers to choose according to their needs and budget.

Confidence is key to successful sales. Believing in the value of your offerings and your ability to help customers is essential. If doubt exists, reassess whether the product or service should be sold at all.

Price is just a number. Focusing on delivering value, being confident, and aligning prices with customer needs is crucial. By understanding pricing dynamics and finding the right balance, your small businesses will thrive.

Episode 198 - Small Business Talk with Cathy Smith brought to you by CATCO Enterprises.

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In this episode 197 of "Small Business Talk with Cathy Smith," guest Amy Bett we discuss the challenges business owners face in managing money. Amy, a profit first professional and founder of Ladies Without Limits, helps business owners take control of their finances. She emphasizes that although many business owners initially focus on their product or service, understanding and making informed financial decisions is crucial as their businesses grow. Amy shares her personal experience of failing in her own business before becoming a profit first professional, reassuring business owners that managing money is not as difficult as it seems. She encourages them to seek support and learn simple systems to gain confidence in their finances.

Cathy and Amy discuss the profit first method by Mike Michalowicz, which involves separating cash flow into different bank accounts for income, expenses, taxes, profit, and owners' pay. This method provides better visibility of available funds and prevents overspending. They also highlight the importance of financial reports, such as profit and loss statements and balance sheets, in understanding business performance. Amy advises starting with small steps, like setting aside money for taxes, and gradually learning how to read and analyse financial reports.

The significance of averages in managing business finances is discussed, as they provide a clearer picture of income and expenses over time. Amy suggests using accounting software for financial organisation and informed decision-making. Planning for taxes and other financial obligations is emphasized to avoid last-minute stress. They also mention the relationship between money management and an abundance mindset, emphasizing the positive impact of being in control of finances.

To learn more about Amy and her work, visit her website at amybett.com. This episode provides valuable insights and practical tips for business owners struggling with money management.

Episode 197 Small Business Talk With Business WIth Cathy Smith Brought to you by CATCO Enterprises.

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In this episode, Business Decisions How Are You Making Them? Cathy Smith discusses the concept of making decisions in business. She shares a conversation she had with a friend about how decisions can be categorized as a definite "no," a "maybe," or a clear "yes." Cathy explores the idea of whether a "maybe" decision is a result of complexity or a series of micro-decisions leading up to a final choice.

She references Yoda's famous quote, "Do or do not, there is no try," and asks listeners to consider whether a "maybe" decision indicates curiosity or hesitation. Cathy suggests that intuition, past experiences, or external factors might influence one's decision-making process.

Cathy advises entrepreneurs to examine their "miserable maybes" and determine if they require immediate action or if they are merely a form of procrastination. She encourages listeners to be proactive in making business decisions, emphasising the importance of clarity and avoiding indecisiveness.

As the end of the financial year approaches in Australia, Cathy urges business owners to make necessary decisions and not let indecision become a decision itself. She mentions a goal-setting exercise involving prioritizing long-term goals and aligning shorter-term objectives accordingly.

Business Decisions How Are You Making Them listen to Small Business Talk With Cathy Smith episode 196 Brought to you by CATCO Enterprises.

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In episode 195 of Small Business Talk, host Cathy Smith explores the topic of employee motivation and retention with guest Karen Chaston, a former CFO. They highlight the critical role of treating employees as valuable assets and directly impacting a business's bottom line. The discussion centres around practical strategies to motivate and retain staff.

One key strategy emphasised is giving employees a voice. Chaston and Smith stress the importance of actively seeking input from employees, involving them in decision-making processes, and genuinely listening to their ideas and suggestions. This approach empowers employees, making them feel valued and appreciated.

Another vital strategy discussed is fostering interconnectedness among employees. A greater sense of purpose and teamwork can be cultivated by sharing information about each other's roles and how they contribute to the company's goals. This sense of unity can lead to higher employee engagement and commitment.

Chaston and Smith also highlight the significance of empowering employees by providing ownership and autonomy over their work. Allowing employees to have a say in decision-making and design processes instils a sense of pride and responsibility. This level of involvement creates a stronger sense of investment in the company's success, resulting in increased motivation and job satisfaction.

By implementing these strategies, small business owners can create a positive work culture that promotes employee retention and alignment with the company's values and vision. Ultimately, prioritising employee motivation leads to improved business performance and long-term success.

Listen to Small Business Talk episode 195 by Cathy Smith, brought by CATCO Enterprises, to learn more.

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Welcome to Episode 194 of the Small Business Talk podcast with Cathy Smith. In today's episode, we delve into the concept of value - both from the perspective of a business and its clients. As the world of business constantly evolves, so too must our strategies to add value and innovate. Drawing on over 22 years of marketing experience, Cathy shares insights on how to effectively reach audiences, the importance of customer trust, and the potential of both paid and organic advertising. This episode also highlights notable case studies from industry giants, such as Kodak and Coke, illustrating how their strategic decisions impacted their business trajectories. Furthermore, we discuss how understanding your customer's journey, needs, and transformation can better inform your marketing efforts. So join us as we explore how to provide the value your customers are seeking.

Here the full episode at Small Business Talk with Cathy Smith brought to you by CATCO Enterprises

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In this episode of Small Business Talk, we delve into the common challenge faced by coaches when it comes to making money and turning their passion into a business. With the help of Kyle Spyrides, we talk coaching, marketing and why many coaches can't make money.

Small Business Talk Episode 193 By Cathy Smith Brought to you by CATCO Enterprises.

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In this episode of "Small Business Talk with Cathy Smith," Cathy explores the power of authenticity based on a quote from Elizabeth Gilbert's book, Big Magic. The discussion challenges the societal pressure of constantly striving for originality and innovation, emphasizing the importance of being true to oneself instead.

Authenticity is about embracing your unique experiences, values, and perspectives. Being authentic allows your true self to shine through, avoiding imitation or trying to be someone you're not. Liz Gilbert suggests "that when you are authentic enough, people will perceive your work as original".

Mark Twain's quote, "There is no such thing as a new idea," supports the idea that creativity is a process of rearranging existing ideas into new combinations. Authenticity provides the lens through which these ideas are filtered and expressed.

The episode highlights the many benefits of authenticity. When you are authentic, you save mental energy by not having to remember who you are or maintain a facade constantly. Authenticity fosters genuine relationships, collaboration, and inspires others to embrace their true selves. It allows for personal growth and self-discovery, as you tap into your unique strengths and chart your own path with confidence.

In a world that values conformity, embracing authenticity becomes a valuable asset. The episode encourages listeners to embrace their authentic voice and contribution, emphasizing that the world needs their true selves. The focus shifts from the pressure of being original to the importance of being genuine.

To explore further how to embrace authenticity in your own life, Cathy invites listeners to engage in a conversation and witness the magic that unfolds when you embrace your true self.

Join Cathy Smith on this enlightening episode of Small Business Talk With Cathy Smith Brought to you by CATCO Enterprises.and discover why authenticity is the new original.

 

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