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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In this episode of the Small Business Talk podcast, special guest Anne Claessen shares her insights on monetising podcasts without making them sound like an advertisement. While sponsors are a popular way of monetizing podcasts, Anne suggests exploring other avenues such as creating a membership around your podcast, selling digital products to your audience, offering services like coaching, and affiliate marketing. Additionally, Anne suggests using podcasts to educate listeners about upcoming courses or workshops, giving them a sneak peek into how you educate people. Podcasts can also help you understand what digital products your audience needs, and you can sell to them once the products are launched. Anne also recommends using video components to attract different audiences and repurposing content across different mediums. Finally, she suggests laying a clear foundation before approaching sponsors, including making messaging clear, adding contact information, and finding sponsors that fit well with your podcast.

Listen to episode 191 to get all the gold from Anne Claessen, Small Business Talk with Cathy Smith brought to You By CATCO Enterprises

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Video phobia in episode 188 I gave you 7 tips on how to overcome video phobia. In today’s episode I dive a little bit deeper into it at your request.

How I decided to overcome my video phobia by making a conscious decision to put aside my fears and just do it. I emphasized that mindset is crucial to overcoming any fears and encouraged listeners to make a decision to take the first step.

Then, I shared the steps I took to overcome my video phobia, starting with using a teleprompter to help me remember my points instead of writing a full script. I also emphasized the importance of thinking about my audience and how not doing videos was not serving them.

I shared how I started using my phone to record my videos, which made it more convenient for me. I also stopped worrying about how I looked and started focusing on delivering the information to my audience.

Small Business Talk with Cathy Smith brought to you by CATCO Enterprises check out episode 190.

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Why masterminds don't work for most businesses. We are told that we need to go out there and do personal development. Business development masterminds are a great thing, but why don't they work? 

My special guest today is Bodo Frost.

It's a very simple answer in a way with Masterminds aren't they great? You get lots of nuggets, special information and things and ideas, about what you could do to improve your business. That's great. Then you go away after the mastermind, after that meeting, you had a coffee or whatever it is. You, you go back to your business. Then the daily grind gets you and then you forget. What was it? Oh, this nugget that I thought about.

Listen to episode 189 of Smal Business Talk With Cathy Smith and BodoFrost from Project Reboot.

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