Executive compensation can be a hard topic to tackle, especially for startups and other growing companies that need to attract experienced talent on a smaller budget. What you may not know is that base salary is the smallest component of executive compensation, generally outweighed by incentive pay. That is good news for growing companies with…
We’ve talked about raising your prices as a prime way that you can make more money in your business, but the #1 fear that I hear is that prospects will say no to the higher price. So when I saw this tweet from Chris Do I had to share it with you. So when my…
One of the easiest ways to 1) grow your business financially, 2) help you to focus on your ideal clients and 3) free you up to spend more time growing your business is to raise your prices. But I get a lot of resistance from business owners when I start to talk about raising prices. It’s…
Adjusting to a Profit Margin Mindset There’s a strange phenomenon that many entrepreneurs and small businesses suffer from. Fear of raising prices. You’re scared that your customers will pull their business from you if you do. Yet your business is growing. You’ve got loads of work coming in. So much so that you’ve taken on…
I had a prospect come to me with a desire to grow her income, and at the same time to make her business processes less dependent on being “hands on”. “Why do you want that, Linda? What makes this important now?” I asked. “Well, I just came back from visiting my Father in Tucson, and…
After our last email where I offered Nedra Rezinas my best advice for kick-starting her business development engine I got one reply that really surprised me. In my answer to Nedra I said, “…the only thing you can control in the sales process is the top of the funnel…” and talked about how to get…
Nedra Rezinas from Veritas Web Design wrote in this week with this question (and she agreed to let me share it with you): Hi Brad, What do you think is the #1 thing that helps you the most with your marketing? I’m working on putting together some marketing habits and wanted to reach out to people…
We talked previously about focusing on higher value clients as a way to grow your business and make more money. But successfully implementing this strategy has a catch, you have to let go of lower value clients to make room for the higher value clients we want to attract! For some folks letting go of…
Remember my list of ways to make more money? The one that the most folks told me they wanted to hear more about was focusing on higher value clients (and firing your lower value clients). I can see why this idea is attractive — it’s conservative and low risk — but also has the potential…
I know that running and growing your business is difficult. It can be a slog, like running in quicksand. You are working hard and not making the big bucks (yet). We’re on a journey to change that, but we need to take a minute to look at the map. Looking Back Now that we’ve bought…