On this episode of The Business Mastermind Podcast, Gavin is joined by Robin Waite, the founder of Fearless Business Coaching, to talk about how to avoid under-pricing/under-selling yourself. How to double business revenue in 3-6 months and why charging by the hour is unethical.

KEY TAKEAWAYS

Fearless isn't about being reckless. Fearless is about fearing the thing in business ever so slightly less that would ordinarily hold you back. Things like doing a 60 second pitch to a room full of strangers at a network meeting. Some people are terrified of doing that, but if you don't do it no one's ever going to know anything about you, and you won't be able to grow your business and sell stuff.
Most business owners will only ever put their prices up once a year or two years, and even then just by 5-10%. They have a belief that if they put their prices up clients will leave. Actually that's not a bad thing. There are two different types of clients: your existing clients who will be anchored to a specific price point and are more price-sensitive, but you've also got prospective clients who haven't been exposed to your prices yet so aren't anchored, there's no tension, you can pitch whatever you want to them and if they feel that's a good value for money they'll go ahead.
The money mindset that's been drilled into us by our parents between the age of 3-7 can be quite negative. The education system needs to talk about money and love more. These are two big questions in life: how do I find a partner to be with and how do I make more money? If you have a negative money mindset we seek evidence to back this up in our businesses. If you're always looking back at the past, you're always going to be looking at the blueprint that already exists. In order to change that you've got to look to the future; you can have abundance, you can charge more, you can have cash flowing through your business and you can create the opportunities that you want. This is something you can change in 30 days, maybe less.
Too many business owners want to keep control over absolutely everything. But why would you hire someone just to look over their shoulder the whole time, then two people are doing the same job. It's pointless. Perhaps implement SOPs (standard operating procedures) and review them every month or two to make sure they work. I'll take family fit first, skills afterwards. They have to get on with the crew first, we can train them afterwards.
In business there are only two things that can go wrong: Either you look a bit stupid, or you lose some money. That's it – unless you do something grossly negligent or nefarious. You can always come back from looking stupid and losing money.

BEST MOMENTS

‘We should try and bring in some of our core values into our business, it's much more authentic.'

‘The core belief you have to have is “I'm worth it”.'

‘Focus on your goals (how much you want to earn) and working backwards (what do you offer) is a good way of working out if you're charging your clients enough.'

‘Record all your sales calls and meetings (with the other person's permission) and listen back to them to see if you were communicating clearly and listening properly. Or do sales roleplay to increase your confidence.'

‘Delegate responsibly, don't delegate responsibility.'

VALUABLE RESOURCES

The Business Mastermind Podcast

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GUEST RESOURCES

From the age of 18, Robin Waite spent four years as a systems analyst for a medical devices company, helping them increase their turnover by 50%, from £1 million to £1.5 million.

From 2004 to 2014 he ran a successful design and advertising agency serving over 250 clients. During this time, he delivered workshops and masterclasses that helped over 1,000 business owners improve their marketing, product architecture, pricing, websites and digital advertising.

Robin loves helping businesses to become more successful, and getting results for his clients is what gets him out of bed each day.

Websites: https://www.robinwaite.com/ and https://fearless.biz/

Podcast: https://podcast.fearless.biz/

ABOUT THE HOST

Gavin Preston

Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and high-performance Coach. He works with Business Owners and Entrepreneurs and has a strong track record in creating the creative strategies to accelerate growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue chip corporates over the last 20 years.

Gavin's energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline Managers. He is an expert in Business Growth Strategies, Peak Performance Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership Development, Team Development & Motivation, Leading Change, Stakeholder Management, Personal Effectiveness and Behavioural Change.

CONTACT METHODS

Website: www.gavinpreston.com
LinkedIn: https://www.linkedin.com/in/gavinpreston/
YouTube: https://www.youtube.com/user/gavinpreston1
Facebook: https://www.facebook.com/GavinPrestonGrowthStrategies/
Twitter: @gavinpreston

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