by MHolland | Aug 30, 2024 | Business Tips, Selling Tips, Systems
The end never justifies the means.
The means are the end.
How you do one thing is how you do everything.
These are the simple secrets to a happy business.
I see businesspeople claim to endorse awesome service. They talk nice to strategic partners and customers.
Then they turn around and talk trash to their Team and suppliers.
No, if you want a happy business, you need to give happiness away in everything you do.
Here is the secret – it does not start with your customers.
That may be your end point – happy customers who refer and keep coming back.
Remember? The means are the end. The end does not justify the means.
Start with your family. Treat them like the diamonds in the rough that they are.
What? Your family? What the heck has that got to do with business?
Everything.
See the other cliché above – how you do one thing is how you do everything.
If that is too much to bear, start with your Team. They are the ones who are your real clients/customers.
They are serving your customers.
How you treat them is how they will treat your customers.
Money follows happiness.
A happy culture attracts customers. And they want an experience, not only a great product/service.
And because you are happy you discover that the means and the end are one. Because you are being happy before the end goal happens.
A colleague of mine, Ryan Lazanis has this to say about creating a successful business:
“I asked my LinkedIn network to fill in this blank last week:
The key to a great firm is _____.
I received dozens of answers:
- Streamlined processes.
- Standardized systems
- People
- Vision
- Checklists
- Communication
- Leadership
- Etc.
Want my answer?
Here it is:
Happy people.
This is the key to any great business.
We want the team to be happy (including you).
And we want your customers to be happy.
You cannot run a great business without this.
And “happy people” is the culmination of most of the things that my connections chimed in about.
Optimize the business for “happy people” and there is no way you can have a bad business.”
And now for my next topic…
Are News Feeds a Distraction, Or Worse An Addiction?
When you take a work-chill break do you scan through the news?
I admit I do. Until now.
Do you know what though? Before the Internet I used to read books voraciously. Classic books like the lives of Saints (Confessions of Saint Augustine, Saint John of the Cross, Dickens, Lord of the Rings).
Now most of my many Kindle books are about 10-15% read. I wonder why?
Could it be my attention span is lower now?
Possibly. I do have a laser focus at work, yet I am going back to having chill breaks by reading my Kindle.
Check out this Blog about news feed as an addiction.
Should Your Business Create a Niche?
Yes.
Create a niche and get rich, if not, life is a b^&%h.
Sorry, I am full of clever cliches today.
Too many businesspeople suffer from shiny object syndrome. They think the more they offer the more sales they can get.
Problem is that the more you offer the more problems you have, the more you lose your focus.
Okay, and here is my last cliché for the day. I promise.
He who is a jack of all trades is the master of none.
Here is a remarkably interesting fact for those of you thinking of taking the dive into creating a niche in your industry.
General Motors sells about 6.2 million cars per annum.
Ferrari sells about 13,200 cars per annum.
GM is valued at $55.3 billion.
Ferrari is valued at $88.45 billion.
I rest my case.
Thank you for reading…
by MHolland | Aug 20, 2024 | Business Tips, Systems
A colleague of mine recently had a great experience with buying a car online…
He firsthand experienced how making things seamless, customer-centric and awesome has tipped his buying decision almost solely on that distinction.
Thank you Ryan Lazanis for sharing your story with us…
Customer Service Trumps Almost Everything
Since moving to the suburbs, my wife and I have been in the market for a second car.
Our current car is a 5-year-old Tesla that we’ve been very happy with, but the market has changed and we wanted to keep our options open.
I was doing my initial research and was struck by a few things:
- The Tesla website is just so much easier to use than the competition.
- I was offered a trade-in online and within 12 hours I was chatting with a sales rep via SMS (amazing!)
- Their sales experience is unparalleled (simple, clear, concise). I could buy the car online within 5 minutes. No haggling.
This is over and above the amazing customer experience we’ve received since owning the car (the technology, the servicing, etc.)
There are nicer cars on the market that are arguably of higher quality.
But I’m convinced they still provide the easiest, most pleasant vehicle experience on the market.
And for that, they might win me back for a second car.
Customer experience trumps almost everything today.
What improvements can you make in your business that will make your customers lives easier?
How Many Do You Possess
To make it in business you must have certain traits. Technical skill is not one of them…
Check out these 5 Most Important Traits of a Modern Business Owner.
I think number 1 is the most important.
What do you think?
Words Matter
Authentic is dead.
Do you use words like authentic? Or, “is dead”?
Perhaps it is time to expunge these words from your website and other marketing materials.
Check this out Authentic is Dead. And so is “is Dead”
Hire Better, Faster
Online software has become super specialized.
Take the hiring process as an example.
You would think, well, I would think anyway, that one all-inclusive human resources software would cover everything needed for the hiring process, right?
Wrong.
Just in this one area of hiring check out the possibilities to hire better, and faster.
And the point is – if they help in saving time and money, they are worth it, don’t you think?
After all, hiring the wrong person can be hugely expensive.
Thanks for reading…
by MHolland | Jul 30, 2024 | Business Tips, Remote Work, Systems
Recruiting and hiring new Team members – if you are like me – is time consuming, a bit excruciating, and, well, just not fun at all…
Tasks that are not fun, waste time, and hard to manage can drain your resources.
Hiring people is one of those tasks that most people dread!
Just think of the hundreds of applications that have to be sorted out to get to the gold.
Then the dozens and dozens of hours spent in interviews.
Ever have interviews that in the first 3 minutes you KNOW the person is not a good fit?
And then you spend the next 30 minutes in an internal dialogue – how do I escape elegantly?
The exciting news is that software has developed in remarkable ways over the past few years.
There are now multiple platforms out there that help you manage the process of recruiting.
Ever hear of a one-way video interview?
Good, if you said no. I hadn’t either until a week ago.
What is a One-Way Interview?
A one-way interview goes like this….
- You upload some basic, simple key questions, about 5, to the recruiting software platform.
- You email your candidates a link to the software.
- Your candidates answer the questions online using the video recording in the software.
- You review the video answers (at 2 times speed even).
By pre-screening candidates, you will save yourself dozens of hours.
You will narrow the field of candidates to those who:
- Resonate with your company culture.
- Align with your values.
- Can communicate clearly and professionally.
What Are the Software Platforms Offering This?
There are loads now!
Some are very expensive and others less so,
Two popular ones that my colleagues have used are:
- Vervoe
- Sparkhire
These two platforms offer much more than just the one-way screening interview. They are jammed packed with features.
Assessing Candidates
The software will assess your candidates and rank according to the answers to questions you provide, and the time taken to answer.
Here is an example from Vervoe’s website:
“We use a set of algorithmic models that measure the quality and interaction of a candidate’s responses against millions of other similar responses and actions.
If you’re hiring a Call Centre Agent, you might be looking for someone with skills like attention to detail and empathy.
Our models process thousands of responses quickly looking for certain words, sentiments and actions that reflect these values accurately. Candidates that display more of these are graded higher”.
A Lower Priced Alternative
In my research I came across a highly user-friendly alternative, with awesome ratings by their customers.
It is called Hireflix One-Way Interview Software
They seem to only do the one-way interview, yet they do it extremely well, and at a great price-point.
The independent user reviews are running 5 out of 5.
Advantages With a Remote Work Force
With so many people hiring for remote work, interviewing people online is a clear winner.
Here is a blog post from Hireflix explaining in more detail:
The advantage of one-way video interviews for remote workers
In Summary
Full disclosure – I have not yet used any of the above platforms.
I will be shortly and very likely trying Hireflix, as they offer a 30-day free trial.
I will report back on how I find it.
Thanks for reading…
by MHolland | Jul 25, 2024 | Business Tips, Systems
As I have written in previous blogs, I use an app called Freedom to control my app use on my phone…
There are a few things I do to limit my online usage.
First…
Block Your Favorites
What? Block your favorites? Yup.
Why block where you will never go!?
If you have favorite newsfeeds/sites, consider limiting your use to 30 minutes a day as an example.
For me, I only need to block about 6 sites that I habitually go to for good articles and news.
For example, I do not read CBC online. So, no need to block.
Sometimes I go on a complete fast of all sites, all the time for an extended period of time.
Here is a million-dollar question – if you spend 30 minutes scrolling newsfeeds or social media versus 30 minutes reading a classic novel by Dostoyevsky or Flannery O’Connor, which will nourish your mind and spirit more?
After all, we only have one life and only so much time. None of us would spend hours a day in a casino in Las Vegas month in month out. Would we?
Social media is like spending hours in Las Vegas, with no hope of a payout, except a truckload of non-cashable likes.
The way your cell phone is setup to addict you and draw you in and keep you in is frightening.
Check out this blog post from Freedom to discover all their tricks:
What’s Behind an App Design?
Turn Off Your Notifications
Notifications are a major distraction.
I read somewhere recently that it takes 20 minutes! (yikes) to refocus after a minor disruption in your work.
I use Telegram a lot. For business, for setting up community groups, staying in touch with our children, and for friends.
What I do is archive chat groups that are particularly busy and annoying. By archiving I do not see the notifications at all. When I want to know what is going on, I have to physically go to them and find them in the app.
My email notifications are turned off.
Heck, ALL my notifications are turned off. My phone is usually on silent mode (not even vibrate).
I have all my messaging apps blocked using my Freedom app from 9:30pm to 6:30am. No possibility of late night, nor early morning messaging.
I turn my phone off at night and leave it in another room.
All of the above has immensely improved my productivity and peace of mind.
I wish you the same!
Thanks for reading…
by MHolland | Jul 10, 2024 | Business Tips, Selling Tips, Systems
This week I am sharing a different kind of newsletter…
Updates, business news, and marketing tips from around the world. Let me know what you think.
Would an AI Boss Be Better Than A Human?
The concept of AI managers is pretty out there, right? This is about a Vancouver, BC company who experimented with AI as a manager of their Team, Fascinating results, especially the hybrid approach!
As in all these cutting edge, new technologies emerging in the AI space, cybersecurity risks are lurking.
The 5 Maverick Rules for Social Media Marketing Success
Social media marketing is not for the faint of heart. Implement these five unconventional techniques into your social media strategy to streamline efforts, reduce stress, and consistently deliver value to your audience.
Tips for Successful Lead Generation (Insights from Experts)
Building a high-quality pipeline is challenging, and Google isn’t making it any easier. Discover nine expert insights from a recent webinar to elevate your lead generation efforts.
Understanding Customer Sentiment: Definition, Measurement Methods, and Best Practices
Customer sentiment measures how customers perceive a company, its offerings, and customer support. When utilized effectively, it enhances customer retention and satisfaction, offers insights for product improvement, and sustains competitive advantage.
Key SEO Metrics That Matter in 2024
Tracking essential metrics is key for maximizing online performance and ensuring sustained SEO success. This article identifies the critical metrics for 2024 that will enhance your SEO performance.
Elements of an Effective Retention Strategy
Amid ongoing reports of the Great Resignation, employers must bolster their retention strategies to avert a mass exodus of talent, which could lead to declines in work quality and operational disruptions.
How Your Email Address Could Be Undermining Trust
Your email address presentation significantly affects how recipients perceive your communications. In an era of cybersecurity concerns and phishing attacks, the choice of email address can either build or undermine trust.
Get in touch
Thanks for reading, and know if you have any questions or want to discuss the next steps for your business.
by MHolland | Jul 5, 2024 | Business Tips, Selling Tips, Systems
Three tier pricing – sounds fancy, what the heck is it for?
I love stealing ideas from other industries and applying it to ones no one expects would fit.
When we had an office in Victoria, BC we ushered clients into our conference room, and presented them with a leather-bound menu. As in a high-end restaurant.
We offered large, organic lattes, and expressos. Organic teas, and organic snacks from the Cascadia bakery up the street. Oh, and fresh squeezed orange juice.
In an accounting office??
Yes! And it blew people away. We had clients who would stop in, order a latte, and ask if they could work in our conference room. They loved it, and so did we…
Okay, back to the topic at hand – 3-Tier pricing.
Which industry are we “stealing” this concept from?
3 Tier Pricing in The Software Industry
The pioneers of 3 tier pricing are software companies. Precisely, companies offering software as a service online, in the cloud.
They did it for 2 exceptionally good reasons.
First, let us define it…
3 Tier pricing (we have all seen it by now) is where a software company offers 3 levels of pricing. The levels can be called anything.
Examples are – Core (level 1), Professional (level 2), and Pro Plus (level 3).
Or, Bronze, Silver, Gold.
I have seen a gazillion labels being used. The labels are less relevant as the simplicity of seeing quickly what is included in each level.
By the way, I have never seen 2 tier pricing, nor have I seen 4 level and above.
Two tier is too basic, and anything above 3 levels is too complex.
Simple choices lead people to decide.
Complex choices stop people from deciding (even when they want what you are offering).
What is The Purpose of 3 Tier Pricing?
First, it gets more people try out what you are offering because they can start at a basic, cost-effective level with your core service.
Second, and most important, it gives people real value and does not mean you reject good, potential new customers or clients.
Third, by giving people a choice you do not need to go into hard negotiations on discounting. You have done the discounting for them.
How to Implement 3 Tier Pricing?
Number one, come up some creative and relevant labels for the 3 tiers you want to create.
Start with your basic level and add features that you are offering in a language that your customers/clients will understand.
Make sure they are benefit driven and what they really want.
In the basic level, do not include too much.
Why not?
Because if you include too many features there will be zero motivation for your clientele to move up to the next level.
Make Sure Level 1 is Profitable
Offer enough features in level one that will delight your clients. (Do not leave them starving for more!)
Set the pricing at a level that will encourage people who cannot afford the higher levels to buy.
Set the price of level 1 at the value you feel your clients/customers will pay.
Do not think of your costs.
Now Reverse Engineer Your Offering
Now that you have tentatively set your price, look at what your costs will be for delivering this bundle of products and services.
Make sure you are profitable.
The beauty of 3 tier pricing is that, even at the basic level you will have clearly defined what is included in your offering.
If your clientele demand more, they have simply moved up to the next level of services.
If they do not want the next level, you simply can add some features and add additional pricing for them.
How to Setup Level 2 of Your 3 Tier Pricing?
For level 2, add new features, unavailable in level 1, that you know many of your clients want and will value.
Many of your customers/clients will choose the middle level.
It has to do with core psychology of us humans.
Many of us, do not want to be in the Basic level. Yet, we may have sticker shock with the premium level. The mid tier level will fit most of your clients.
Therefore, spend more time at this level to get it exactly right.
Include more features than the Basic Level, yet not too much more, or it will cost you too much to deliver the total package.
Your Top or Gold Level Package
For the Gold level, add all the features that will offer a white-glove level of service, and will be priced accordingly.
Once done, you will end up with a kind of bell curve of new clients. 20% may choose level 1, 70% level 2, and 10% the Gold or top tier level.
Once you have set your included features, sharpen your pencil, and see if you can profitably offer the Gold package.
It will do you little good to offer so much and find out it will be costing you even more to deliver to your Gold clientele!
How to Present your 3 Tier Pricing?
If you are doing presentations to your customers or clients either online or in person, then here is how it should proceed…
Start with your Gold level. Go through your Ultimate, Level 3 package with all your bells and whistles.
Why?
In order to create some sticker shock!
If you see your client having difficulty breathing after showing level 3, you are doing good! 😊
Once the sticker shock has passed and your client is breathing again, you can present the other 2 tiers.
Many will choose the Silver Package or Level 2.
It will occur as more affordable and just the right amount of features.
For those with tighter budgets, or just wanting to check you out, they will go with Level 1, or Bronze.
In Summary
If you only offer one size pricing, you force your clients/customers into a negotiating stance.
They may want you to strip out features and reduce the price.
By offering the tiers, you leave your customers with the opportunity to simply choose for themselves.
This leads to more customers, and happier customers, who are getting exactly what you promised.
Last bit of advice – do not offer too much in the lowest package, or all of your prospects will choose that level.
And, also, do not offer too much in the middle package or your costs will be driven up.
Thanks for reading….
