Too many small business owners fall into a dangerous trap tying their prices to their self-worth instead of the value they provide.
When you price based on doubt, imposter syndrome, or fear, you undercharge, overwork, and attract the wrong clients. But here’s The Stern Truth:
Your worth isn’t up for debate—your impact is.
Your clients don’t pay for your self-esteem; they pay for results. More revenue, more time, less stress—that’s what they value, and that’s what you should be charging for.
That’s where the real power is. Because when you price based on value:
- You attract clients who respect what you do and see it as an investment, not an expense.
- You free yourself from the endless cycle of overworking and undercharging.
- You set a standard that reflects the transformation you create.
So ask yourself: Are you pricing for value or pricing from self-doubt?
If so, it’s time to step into your power as a business owner.
And that, my friends, is the moment you step into the true power of being a business owner. AND THAT”S THE STERN TRUTH!
You can listen or watch more on this topic last week's THE STERN TRUTH: BUSINESS UNFILTERED episode.
Learn how to close the gap between marketing and service delivery to build customer trust and grow your business.
Investing in eye-catching marketing materials like a sleek website and a wrapped truck can initially draw potential customers to your business. However, many businesses fail to convert these leads due to what is described as "the service gap" – the gap between marketing promises and delivering actual customer service. This disconnect can turn away ready-to-buy customers, leading to missed opportunities and wasted marketing investments.
The effectiveness of marketing efforts is measured not just by attracting customer interest but by how efficiently inquiries are handled. A customer's journey from discovery to engagement can falter if businesses fail to respond promptly to inquiries. Without a reliable system for managing customer interactions, even the most compelling marketing strategies can fall flat, causing potential clients to seek services elsewhere.
Bridging the service gap involves auditing the customer journey to identify weaknesses and implementing systems for effective communication and follow-up. Simple measures like setting automated responses, establishing response time standards, and using CRM software can significantly enhance customer experiences. Ultimately, the most impactful marketing strategy is one that translates promises into experiences, fostering trust and generating word-of-mouth referrals that drive growth.
Read more...
Feeling overwhelmed in your entrepreneurial journey? You're not alone. A recent study found that 62% of female entrepreneurs experience burnout, but you can reignite your passion and steer your business to success with the right strategies.
Shifting your mindset from an employee to a CEO is pivotal. Embrace ownership of your vision, delegate tasks to focus on growth, and build confidence in your decision-making abilities. Rediscover your "why" and let it guide you, as getting clear on your vision will help you create a successful roadmap.
Evaluate your daily activities with honesty; focus on "Power Moves" that align with your goals rather than "Energy Drains." Seek out a mentor for guidance, accountability, and support to think bigger and gain valuable insights. Remember, you are capable of amazing things, and by prioritizing your well-being and leadership, you can build the thriving business you envisioned.
Read more...
Feeling overwhelmed in your entrepreneurial journey? You're not alone. A recent study found that 62% of female entrepreneurs experience burnout, but you can reignite your passion and steer your business to success with the right strategies.
Shifting your mindset from an employee to a CEO is pivotal. Embrace ownership of your vision, delegate tasks to focus on growth, and build confidence in your decision-making abilities. Rediscover your "why" and let it guide you, as getting clear on your vision will help you create a successful roadmap.
Evaluate your daily activities with honesty; focus on "Power Moves" that align with your goals rather than "Energy Drains." Seek out a mentor for guidance, accountability, and support to think bigger and gain valuable insights. Remember, you are capable of amazing things, and by prioritizing your well-being and leadership, you can build the thriving business you envisioned.
Read more...
For small business owners, effective leadership is crucial to a team's success. Your ability to motivate employees, offer clear direction, and eliminate barriers impacts overall team performance. To excel as a leader, one must master various skills, from communication and problem-solving to maintaining accountability.
Building trust through honesty and respect is foundational for strong leadership. Be transparent, act with integrity, and align your actions with your words to build a high-trust team culture. Valuing your team's input, avoiding micromanagement, and showing genuine care for them as individuals fosters respect and trust.
Open communication ensures alignment and clarity within the team. Regular team updates, monthly all-hands meetings, and newsletters can keep everyone informed and engaged. Additionally, setting clear goals and KPIs provides direction and expectations, adjusting resources or timelines as needed without placing blame. Address performance issues directly but compassionately, support work-life balance to maintain morale, and continuously seek growth and feedback to improve your leadership skills.
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