We can guarantee you’re feeling the strain of the economy in your business.
Instead of feeling like there’s nothing you can do about, we break down 5 practical things that you can do to not only shelter your business but to also prosper in the next year.
Think of this episode like your tough economy survival guide!
Head over to iwannacollaborate.com and let us know what you took away from this conversation.
Music credit: The Funkster by Sweet Spot
A Subito Media production
Hello, and welcome back to the eaves drop on us podcast.
2
:I'm Jessica.
3
:Hey,
4
:Susan: I'm Susan.
5
:Jessica T: And this week, as this
episode will be released at the
6
:very beginning of December, 2023,
we're going to bring a topic that
7
:I think has been like, hush, hush.
8
:It's been the topic that I think every
small business owner has been feeling.
9
:Thinking about, but I wouldn't say
they've been talking about it as
10
:much as they probably should be,
and that topic is the economy.
11
:were especially keen on
talking about this topic.
12
:So I'm going to let you, I'm going
to toss it over to you and let you
13
:jump in and start talking about
14
:Susan: this.
15
:Well, I appreciate that.
16
:That's very generous.
17
:And in fact, am very keenly aware
and committed on this particular
18
:topic because, you know, it
stems from the great pretending.
19
:So let's define what
the great pretending is.
20
:Everything's fine.
21
:My business is great.
22
:I'm great.
23
:Happy days.
24
:And we're seeing it over
and over and over again.
25
:Saying it does not make it true.
26
:And so that's where the phrase,
the great pretending stemmed from.
27
:And so then a deeper question I thought
needed to be asked, well, what are
28
:we pretending that's not happening?
29
:And it's the economy.
30
:And, great or small,
we're feeling the pinch.
31
:So that pinch could be
a longer sales cycle.
32
:That pinch could be vendors
increasing wildly the fees
33
:for their services and goods.
34
:And, you know, small businesses are
trying to figure out, okay, on the
35
:right hand, I have service, I'm getting
charged more just to do the same.
36
:And then I'm looking at, how do I pass
this on to my clients and my clientele
37
:and not lose their business in doing so.
38
:So this is really, you know, downward
pressure onto the small business purveyors
39
:and professional services, especially.
40
:So without going on the technical side,
I promise you I'm avoiding that at all
41
:costs here because there are bigger
messages to share with folks in the sense
42
:of if you are feeling that pinch and
really are getting sick and tired of the
43
:great pretending that everything's fine.
44
:I'm fine.
45
:So
46
:Jessica T: we've been
kind of operating like.
47
:I think that, yeah, I think
it is the great pretending.
48
:It's like, we're just going to keep
acting and doing the same things and
49
:like, you know, and I think obviously
with entrepreneurs, there's optimism
50
:and we're always, we're problem
solvers and we're going to figure this
51
:out and we're going to correct now
we're going to get through this, but
52
:Susan: I want to capture
that energy right there.
53
:You said we see, we see the glass.
54
:Half full, not half empty.
55
:I love that optimism.
56
:We are, can, can do people.
57
:We can figure this out.
58
:We can work this out.
59
:This runs diametrically
opposed to that, doesn't it?
60
:You know, when we're feeling that
pinch and that, and the pressure
61
:of a contracting economy, meaning
I'm concerned about losing market
62
:share clients and I'm getting
charged more to do the same or less.
63
:That's a, that's a
contracting environment.
64
:So when that happens, the questions
then become, what the hell do we do?
65
:Well, and I
66
:Jessica T: want to just actually
thought just validate, I think what
67
:a lot of people have been feeling,
which is that shift, you know, we were
68
:just talking about this yesterday.
69
:So before we get into
like, what, what do you do?
70
:How do you, how do you navigate this?
71
:validating that.
72
:You're not imagining things
like it actually is happening.
73
:And, you know, you and I were talking
about this yesterday when we were
74
:hosting a live training to a group
of surface based entrepreneurs,
75
:you know, who are professional
services, you know, they're, they're.
76
:It's not product.
77
:It's not anything like that.
78
:And so we were talking about how a
couple years ago, people may have
79
:prioritized your service as a necessity.
80
:And now they're sort of looking at
it like, I'm thinking twice and it's
81
:fascinating because it didn't really,
I didn't necessarily explicitly
82
:make this connection until we talked
about it, but I was like, Oh my
83
:gosh, the market that I have served.
84
:Since 2017 has massively shift and shifted
in terms of what it is that they are
85
:focusing on what they're looking for.
86
:And more importantly, what
they're willing to invest in.
87
:so I'll just give the quick example
for the benefit of the listeners.
88
:And then I, I, I want to get into like,
okay, so what do we do about this, but.
89
:You know, back in 2018 when you and I were
on the conference event circuit, we were
90
:speaking all over the place in person and
I was positioning, you know, online course
91
:creation and let's, let's, you know,
create this killer course and your modules
92
:are going to look so great and, and
people ate it up because it was so, it was
93
:creative and it was fun and people love
their, their quote signature process and
94
:their acronyms and, you know, you know,
Taking the thing that's in their brain
95
:and putting it onto, you know, exactly.
96
:And people had time and the
resources to say, I'm going to
97
:play with this a little bit more.
98
:Now it's not even on
the list of priorities.
99
:It's like, I need to make sales.
100
:This, this baby needs to make money.
101
:I couldn't focus on the quality of what's
inside this thing later, but I don't have
102
:time to spend parsing back and forth.
103
:So I think it's first.
104
:You know, I think recognizing in one's
business, where are you starting to
105
:see the symptoms of the economy or feel
106
:Susan: yeah.
107
:And so I love that observation,
by the way, thank you.
108
:And the sharing there that you just
gave, because I think, you know,
109
:folks listening in will really.
110
:It becomes much more tangible, right?
111
:So, if I may, I'm going
to pivot right into.
112
:What does this all mean?
113
:And what's the bottom line here, ladies?
114
:Jessica T: just have to say, I like
that you're not sitting and they're
115
:like, let's talk about how this
is showing up in our businesses.
116
:It's like, no, we, we need to make some
decisions and start planning and thinking
117
:about what we're going to do in 2024.
118
:Susan: Yeah, you got to bottom line it.
119
:So the question becomes, okay.
120
:What the hell do we do?
121
:The economy is contracting.
122
:Now what?
123
:So here's some now what solutions.
124
:Step 1, really take a look at
where you're feeling that pinch.
125
:Are you getting vendors coming
in at you left and right?
126
:requesting a 12, 15, 20 percent
increase on their services.
127
:Remember that it's a
negotiating opportunity.
128
:That's 1 thing I'm always fascinated by.
129
:You can either have a conversation with,
you know, if it's a larger service like
130
:keep keep just gave us a fabulous notice.
131
:And
132
:Jessica T: keep is keep is
in an email marketing system.
133
:It's
134
:Susan: a it's a CRM, large scale CRM.
135
:And it's really what got me thinking
is like, I see this, I'm wondering how
136
:smaller purveyors are doing and it's
like, but how do you absorb:
137
:percent increases across the board.
138
:So your bookkeeper is
giving you an increase.
139
:Your software or tech stack
purveyors are giving you an
140
:increase, so on and so forth.
141
:So what the hell do you do about it?
142
:Well, number one, pick the phone
up, have a conversation with them.
143
:This is a conversation,
not a tutorial environment.
144
:This is a dialogue.
145
:I would like to work with you.
146
:Can we negotiate or have a
conversation about this increase?
147
:Are you able to grandfather me in?
148
:Because if they're offering real
sweetheart rates to newbies coming in
149
:and sticking you with a price increase,
you better have that conversation.
150
:Right?
151
:So you're going to pick the phone up
and have a productive, respectful,
152
:professional conversation.
153
:That means you need to know
what your outcome win is.
154
:The outcome win is not to take on that
full impact of their price increase.
155
:That's one.
156
:Two, you need to ask yourself,
do you really even need it?
157
:Have you evolved and
grown and, or shifted?
158
:Do you need that full or service at all?
159
:Right?
160
:It's both ways.
161
:So, that's one thing
I'm always fascinated.
162
:Small business providers tend
to be a little bit slow to that.
163
:And it happens to do
because they have less time.
164
:Perceived last time.
165
:And yes, I stuck that word in there.
166
:Perceived.
167
:They do have the time.
168
:They perceive they have less.
169
:I digress.
170
:So then we go into the next
thing I always recommend.
171
:Have conversations with your so
called leads or potential clients.
172
:You know, it's okay to
spread out payments.
173
:Some is always better
than none, and I think if
174
:Jessica T: I could just jump in, I think
the theme of the first two points has
175
:really been communication, and I think
on the one hand, but the first option,
176
:it's, you know, when you're receiving
information and news from the vendors
177
:that you're working with that like
prices are increasing, it's like, well,
178
:sure, you could just take it and be
like, well, I guess it is what it is.
179
:But if you're saying like,
actually, you can advocate for
180
:yourself and have a conversation.
181
:And I think the second thing is also, you
know, having an open line of communication
182
:with your clients and customers.
183
:Yes.
184
:Susan: A hundred percent
communication always wins the day.
185
:Always.
186
:So now, you know, let's
take a look at your pricing.
187
:And your market share, if you will,
I promise you, you're seeing when
188
:you purchase goods and services, the
new button that's on every checkout,
189
:would you like to have after pay?
190
:Would you like to spread
your payments out?
191
:Take a lesson from our big
brothers and sisters in corporate
192
:and medium sized enterprises.
193
:If they're having to do the
same, well, jump on boat.
194
:Offer the same to your
clientele or potential clients.
195
:And I think
196
:Jessica T: I want to jump in and just
say, because I know so many, I've seen
197
:this so often in social media scrolling
and some of the Facebook groups that I'm
198
:part of where service based people will
kind of say like, Oh my gosh, I, you know,
199
:I spread it into payments and I did the
whole service and the person didn't pay.
200
:I mean, be smart about it in the sense
that like, you know, creating an agreed
201
:upon structure for payment and payment
plans, but honors both Parties a
202
:Susan: hundred percent.
203
:Jessica T: Thank you.
204
:I feel like I just had to say that.
205
:Cause I'm like, okay, someone listening
to this is going to be like, okay, so
206
:I'll just give someone who's coming in 15
payments and I'll do all the workup for
207
:like, no, that's not what we're saying.
208
:Usually it's a
209
:Susan: beginning, middle and
end payment, you know, by the.
210
:You recover the last payment on
the last day of services, right?
211
:It should be, you should be chasing
after payments after the fact.
212
:Unless they have exceptional, you
know, payment history and that's a
213
:client that's been with you before.
214
:And, you know, the ads included,
but, you know, the rule of thumb here
215
:is, you know, if you're professional
services, so I'm talking to my.
216
:Dental doctor attorneys, my CPAs.
217
:You know, folks like that aren't
going to use those services and
218
:run away and, you know, go and.
219
:Ghost them there there are
mechanisms to recover and so stay on.
220
:You know, a healthy footing, but I also
want to address the smaller providers
221
:and purveyors and insane that that, you
know, what, if they have good credit
222
:history and yeah, you would have to
take a look at their credit history.
223
:I recommend you looking into that.
224
:I don't think it's within the
scope of what we're chatting with.
225
:Today on, but I do think, you know,
ultimately, I'm going to come back
226
:to what can you do here are options.
227
:So it will take you.
228
:Asking those questions, what can I do?
229
:What should I do about the payments?
230
:Well, can I jump in real
231
:Jessica T: quick I think this is also
something really fascinating that we're
232
:seeing a lot of business owners feeling
inclined to do right now, which is
233
:lower their rate for the same service.
234
:So if we're talking about like payments,
I also think it's it's worthy of us
235
:talking about Before you feel that desire
to say, well, I feel bad because, you
236
:know, people are going through a tough
time or it's harder for them to pay or
237
:whatever it is that excuse that you're
kind of hearing from your clients resist
238
:the temptation to lower your prices
for the same service because you take
239
:it away, Susan, like, why is that a
240
:Susan: challenging decision?
241
:You're not delivering less value.
242
:More or less time.
243
:Yeah.
244
:Well, I put that in my world, in my mind.
245
:I always put the two
together, but you're right.
246
:if I am spreading payments out,
it's not to say that I don't
247
:believe that this has an X value.
248
:It just means I'm willing
to extend you a courtesy.
249
:It's not a pass.
250
:It's a courtesy.
251
:So, we would have to agree on X.
252
:So, let's use a round number.
253
:You and I just sell something for 100.
254
:I can break it out into
two payments, 50 50.
255
:All the time you understand it,
you still owe a total of 100.
256
:So I shouldn't have to lower my
price because I'm extending you
257
:even more grace and courtesy.
258
:Jessica T: you know, I think for
some business owners, there's the.
259
:I just, I don't want to put, my
clients out or my customers out.
260
:I don't, I know times are
tough and I think the twisting
261
:and bending of oneself then
262
:Susan: they need to get clear on
how essential their services are.
263
:And if they're absolutely not essential.
264
:I would recommend that you find
an essential component to it.
265
:Don't become a one trick pony.
266
:Yeah, be creative.
267
:Absolutely.
268
:You cannot, you cannot in these times.
269
:Allow yourself to get cornered
into, well, I'm a nicety.
270
:So if I'm a prioritized by other
financial demands, then that
271
:means your market has shifted.
272
:You need to go find where your
market has shifted to, right?
273
:So, you know, if you are
accustomed to selling X, you know,
274
:widget or service at set price.
275
:Well, you know what your margin of
profitability is in that I would recommend
276
:either spread out payments to allow this
standard ideal client or go to where
277
:the, you know, the market has shifted.
278
:It's an important point for small
businesses to understand that.
279
:Just as people can evolve
and change, markets can too.
280
:So what do I mean by the market?
281
:It's the buying community.
282
:It's where you find your ideal
clients is what we actively refer
283
:to as the buying environment.
284
:If it has picked up stakes and
moved elsewhere, well, you better
285
:darn well do your homework and find
it because things have changed.
286
:We've often said, if you're doing business
the same way you did pre COVID, In a post
287
:COVID world, you do so at your own peril.
288
:It comes with terrific risks.
289
:So this is where, you know, we
have to break the chains of the
290
:delusion that everything's great.
291
:All things are good.
292
:No, things are challenging and things
are a little bit more labor intensive.
293
:So we have to commit some more time to it.
294
:It doesn't mean we have
to get steamrolled by it.
295
:Not even a little
296
:Jessica T: bit.
297
:Well, and what I like
what you're saying is.
298
:it's being creative in the sense that if
what you had before it's people aren't
299
:biting at it the way that they were.
300
:Can you add something a little bit
different in terms of a service
301
:or attaching a product to it?
302
:That is going to change how
someone is going to perceive it.
303
:And that could be.
304
:You know, something you're already doing.
305
:It could also be learning something new
or connecting or building a relationship
306
:with another provider to, to transform
that, you know, and If a business owner
307
:just wanted to, you know, they're,
they weren't interested in doing that.
308
:They're like, this is my service.
309
:This is what I do, but I also recognize
that my target audience, my ideal
310
:client is going to have a tough time.
311
:Either investing in this
deciding to say yes to this.
312
:1 of our clients just went through that
and they said, I'm not going to change my.
313
:My market.
314
:I'm not going to go, I'm not going
to go search for a different market.
315
:What I am going to do with my existing
market and my existing client base is
316
:I'm just going to change the offer,
reducing the price, reducing the
317
:investment, simultaneously reducing the.
318
:Deliverables the, the fulfillment
components so that it's also
319
:it's a win cost burden, right?
320
:And so it ends up being, I think, a
win win for everybody recognizing that
321
:the audience very much needs this.
322
:They recognize they need it.
323
:They just, it needs to be repackaged and
324
:Susan: repositioned.
325
:Yes.
326
:And we should be doing that
regardless, quite frankly.
327
:You know, this is again, the perils
of becoming a one trick pony.
328
:We honestly have been seeing this
for at least a year and a half with
329
:clients repurpose, reframe, reuse what
you've pushed out there to the market.
330
:In other words, understand your content.
331
:Understand your value, understand
how you can best serve and support
332
:those that you want to do work with.
333
:So, you know, we ask
people in a very small way.
334
:All right, if you create some content,
let's see if we can extrapolate a blog
335
:post, social media post, and maybe
even an email sequence out of it in
336
:terms of content creation, right?
337
:It's no different with
your products and services.
338
:No different.
339
:what more can we do with X
or this particular widget?
340
:Can it be partnered with, to your
point, another vendor in the market
341
:to basically remind our market share
who may have shifted and moved,
342
:Hey, we're still here, you know?
343
:so get creative.
344
:This is where play to
your strengths, right?
345
:You acknowledged.
346
:Earlier that we're optimistic and we're
creative people will tap into that energy.
347
:Get creative.
348
:that's what we should do about
349
:Jessica T: this.
350
:What I what I'm enjoying about this
conversation is I think it's so easy
351
:for for so many of us, especially in
the small business world to feel like.
352
:If there's not much we can do,
we kind of feel powerless and in
353
:some instances, there isn't much
individually we can do to change the
354
:bigger decisions that are being made.
355
:However, what I like about this
is, is that we don't have to
356
:roll over and just accept it.
357
:I think it introduces one is sort of
growing that backbone and understanding
358
:that you can advocate for your
business and watch out for what you're
359
:investing in, who you're working with.
360
:Um, and two, I think it also, as we've
been talking about just a few moments
361
:ago, is, is that creativity that so many
of us have, it's like, well, let's tap
362
:into that and be problem solvers here.
363
:Yes.
364
:Susan: This is where it gets
to be a little bit fun and
365
:you can use your imagination.
366
:You can use your ingenuity, tap
into those networks that you
367
:haven't had an opportunity to.
368
:So there's a number of
ways that you can pivot.
369
:And respond, don't
react, respond to market.
370
:I guess impacts if you allow it to
another thing, I want to encourage
371
:individuals that are running their
own small businesses and, you know,
372
:leaders in that is remember to now if
you have team, they're feeling the pain
373
:and the pinch of the economy as well.
374
:So small businesses tend
to overlook mainly because
375
:they're so darn demanded upon.
376
:The pain and the stress and the
overwhelm of the, the economy on
377
:their employees and their vendors.
378
:So, you know, expressing,
hey, look, I see it.
379
:It's that, you know, acknowledging
the big boogeyman in the room.
380
:It doesn't mean again we're going
to keep hitting this drum folks.
381
:You don't have to go out to the
greater world and fix it, but you
382
:can acknowledge to people in the
room that it exists, and I'm going
383
:to share with you the power of that.
384
:I'm a member of, we are, of
course, a member of a mastermind.
385
:And I noticed a little group thing setting
up that, oh yeah, everything's fine.
386
:It's all hunky dory.
387
:I'm good.
388
:I'm good.
389
:And so of course I pulled the
pin and I rolled out the grenade.
390
:Yeah, what about this
economy we're all in?
391
:How are we doing?
392
:And it was incredible.
393
:Everybody was like, Oh, finally,
we're going to really talk about this.
394
:And it turned into an awesome opportunity
of give and take and suggestion.
395
:And I found it so liberating
and exhilarating, quite
396
:frankly, and empowering.
397
:And here's why.
398
:Just like in our conversation,
Jessica, where, you know, we're,
399
:this, or this, or this, or this.
400
:The group in this mastermind
were on fire with options.
401
:So to my dear listeners, I would encourage
you find other like minded small business
402
:purveyors and service providers because
it's what they're going through it to
403
:have some suggestions or creative ideas.
404
:And that's the power of community.
405
:That's the power of good communication.
406
:So, I wanted to share that because
it was really an enlightening map.
407
:And then, then you saw a whole
bunch of content and rhetoric come
408
:out from the mastermind organizers.
409
:Which, Well, it belongs to a grand
poobah, I'll just leave it at that.
410
:And it was, it was a little humbled
and gratified, quite honestly, that,
411
:you know, even our little business
that's fabulous and enjoyable can
412
:impact and influence the greater good.
413
:And so being seen, being heard
is so incredibly important and
414
:being brave in this instance, we
all need to be a little braver.
415
:Well, and I think that
416
:Jessica T: this, the idea of having a
community is going to be really important
417
:because I think we are going to continue.
418
:I've seen it.
419
:I know you have seen it.
420
:The, the notices of people who are closing
things down, closing their business.
421
:And think that that can be avoided if
that person wants it to be avoided.
422
:If that's if they don't want
to get to a place where they
423
:have to close their business.
424
:I think it's one of those where
hold on, find a community.
425
:And
426
:Susan: tap into that goes to,
427
:Jessica T: yeah, use your vendor.
428
:Like community can look like
a lot of different things.
429
:It could be, you know, you
know, a networking group.
430
:It could be your vendors.
431
:It could be other business friends,
but people who are committed to being
432
:creative and problem solving and getting
through this, because I think that energy.
433
:Is, and that positive, like, can do
attitude is going to be so important.
434
:Attractive.
435
:It's so attractive.
436
:It is attractive.
437
:And I'm just thinking, like, we're
going to weather and start seeing
438
:some, some closures of, of things.
439
:And I think it's like, you know, that
is not going to be my business's story.
440
:And so I'm going to do what
I can to surround myself by
441
:other like minded individuals
442
:Susan: who You have to face it.
443
:But, but that's the
great pretending, right?
444
:If we break it down now, I'm not
asking everybody to, you know, go
445
:into the fetal position and find a
corner and have a good, ugly snot cry.
446
:I'm saying actually get a chip on to your
shoulder, get, get a little gritty here.
447
:Get, uh, you know, we can, what the
heck are we going to do about this?
448
:Can I add one
449
:Jessica T: more to this that
we haven't talked about yet?
450
:I think people are going to
have to get a lot braver.
451
:Yes.
452
:Yes.
453
:Okay.
454
:let me paint this picture.
455
:I think what was so easy for so
many of us,:
456
:and even further back, right?
457
:Yeah.
458
:I think it was so easy for people to
just, you know, And I'm talking about a
459
:service based entrepreneur here, right?
460
:Like post something on social media,
you know, do one little thing, you
461
:know, send one little email and like
the floods of people would come in.
462
:Right.
463
:I think, I think for, for a lot of people,
it was just so easy to do those things and
464
:it felt effortless and there would just
be surrounded by like tons of easy sales.
465
:I think people.
466
:In business right now, when I talk
about being brave, it's doing the
467
:thing that you wake up and you're
like, I don't really want to do it.
468
:I'm afraid to do it.
469
:I've resisted doing it.
470
:I don't like doing it.
471
:No, your business needs you to do it.
472
:It's like, go pick up the phone, go
do the thing that you've been avoiding
473
:doing because it's easy not to do it,
but your business needs it right now.
474
:So I think there's, I, I read something.
475
:It was, it was kind of vulgar.
476
:It was like you got like,
uh, what, what was it?
477
:It was something like, um, I like vulgar.
478
:Vulgar.
479
:I mean, it was, it's, it's, it was
something to the effect of like, your
480
:business needs you to have balls right
481
:Susan: now.
482
:Right.
483
:I don't know of a moment where our
business didn't require that of
484
:us to have a straight, straight
backbone and a small attitude.
485
:You know, you have to feel like the runt
of the litter at all times, just, you're
486
:just going to get in there and grab
it, you know, you have to be scrappy.
487
:Jessica T: Well, I think scrappy
looks like, you know, there is
488
:an element of requiring bravery.
489
:It's like, for example, it's the,
I haven't been speaking a lot,
490
:or I've been avoiding speaking.
491
:It's like, well now go book
yourself a speaking gig.
492
:I haven't been engaging
with my email list.
493
:We'll go write the email
and send it to your list.
494
:Right.
495
:Go ahead.
496
:Susan: Yeah, and I love that you're
going down that lane and this is really
497
:important and this actually ties back
to our webinar yesterday in terms of.
498
:You know, the focus is now
on money and time, right?
499
:Time.
500
:And money, by the way, did I say
money and time time and money?
501
:Did you did you share that with
you time and money money time?
502
:So, how does that show up?
503
:Well, it's called business 101.
504
:you're very basics and wherever you're
weak on your basic and slack or, you know.
505
:Forward slash fundamentals.
506
:It's going to show up a little bit, but
don't get wigged out by that though.
507
:Don't, don't worry.
508
:Jessica T: Well, I'm actually going
to put a caveat because if you're
509
:listening to this and you're like,
Ooh, I don't know if I am the most, the
510
:last episode, the solo episode I did
talked about those foundational pieces.
511
:And if those are a little shaky,
it's going to kind of show up
512
:in some other places for you.
513
:Yeah.
514
:So,
515
:Susan: Yeah, as small businesses, you
know, we do a lot that is lean and
516
:just in time, and that's not a failing.
517
:A lot of folks, when you start going to
10 to 15 employees, it feels like it's
518
:kind of Overstayed its welcome that kind
of business model and you get a little
519
:bit more formal and you have much more
systems and processes and frameworks I'm
520
:talking to the us true small businesses,
you know, where you may have less than
521
:five employees and you have a fabulous
lifestyle business and you're really
522
:all in, you're really committed and
you're worried about your, your business
523
:staying open and, you know, finding
centers of profitability for yourself.
524
:Well, first thing, kick that
habit of refine all's good.
525
:No impacts.
526
:Pick that delusion to the corner
and then, you know, take 1 or
527
:2 of our kind suggestions here.
528
:And I, you know, when I talk about
money here, I'm talking about,
529
:you know, your ones and zeros.
530
:Because as we're asking vendors to
extend a little courtesy and a break
531
:in that percentage, because I can
assure you, those small to medium sized
532
:enterprises and corporate have really
kicked out how long they could go before
533
:they passed on that price increase.
534
:They're low to pass on price
increases just as we are.
535
:They're at the at the end of the line.
536
:They have to do it because they're
feeling it from their employees.
537
:Hey, we need pay raises.
538
:It's not keeping up with the economy.
539
:So it's, it's a catch 22 here.
540
:Okay.
541
:So, you know, it's okay to ask, Hey,
look, can we have a conversation.
542
:So knowing your ones and zeros,
that's your magic, the time, fine.
543
:Well, you know, If you can shorten up
your time in terms of deliverabilities,
544
:what once upon a time you had a six
month offering, and I'm talking to
545
:coaches, authors, and consultants,
if it took you six months, take a
546
:look at offering it for three months.
547
:What could you do for three
months if it was three months?
548
:Look for two and a half
months or two months.
549
:You see where I'm going.
550
:I'm shaving time off of the
deliverable because why?
551
:People need.
552
:Outcome now, not tomorrow.
553
:I need quote unquote more
sales now, not tomorrow.
554
:I need more time to get more
sales when now, not tomorrow.
555
:And many purveyors really need to
tune into that of their market share.
556
:Well, I
557
:Jessica T: think that this has just been,
I don't want to say uplifting because I
558
:feel like that's not the right word, but
I think it's been so I think it's, it's,
559
:well, it's been positive in the sense
that I think, as I mentioned earlier,
560
:rather than just paint the picture of
like, here's why the economy sucks.
561
:Here's why it feels so hard.
562
:You know, we're, I'm glad that
we tapped into let's be creative.
563
:Let's be problem solvers.
564
:Let's be communicators and let's work
our way through this because, you
565
:know, focusing on the doom and gloom
is not going to do anybody any good.
566
:You
567
:Susan: know, that's not why
you went into small business
568
:Jessica T: and that's not why.
569
:Yeah.
570
:I mean, if you're interested
economics and history, and you
571
:want to geek out about that.
572
:Sure.
573
:Go down the, go down the rabbit hole.
574
:But I think as far as like, you know,
when we sit down with our clients,
575
:it's like, we're not going to let you
roll over and just struggle with this.
576
:So Susan, I'm so glad that we, we took
this conversation the way that we did.
577
:And so I think with that, yeah, it
was, it was, it was actually very
578
:fun considering it was a very.
579
:It's a serious topic, serious topic.
580
:It is.
581
:So, so yeah.
582
:So thank you so much for tuning
in, Susan, thank you as always
583
:for such a great conversation.
584
:Susan: It's a joy.
585
:We'll see you next time.
586
:Bye.
587
:Bye.