Small business

Small Business Resources: Let's Talk Prices

Figuring out what to charge for a product or service is one of those tasks that can be overwhelming.  Where do you start?  Do you charge $95, $97, $99 or $100?

We’ve come across quite a few different articles, posts and resources that talk about the psychology behind people’s buying habits that are really fascinating and that’s what we’re going to share with you in this month’s Small Business Resources.

Social Triggers

Derek Halpern has a lot of really great content when it comes to pricing, but this is one video that really struck us as helpful.  Check it out and then watch a few other videos by Halpern.  Lots of great insight.

Conversion XL

This is a LONG article, but it has a lot of really great information. It goes into all kinds of different pricing experiments and their outcomes.  

It brings up the same point the Derek Halpern does in the video above, as well as some other great information about people often not going with the cheapest option, about how pay what you wish pricing can work, the importance of anchoring.

( I’d love to hear if you try any of your own experiments or what you think would be worth trying in the comments!)

http://conversionxl.com/pricing-experiments-you-might-not-know-but-can-learn-from/#

Do you have any great resources that have helped you figure out how to price your products?  Leave a comment and share them with us!

7 tips for 2014 from small business owners

In the last couple of weeks of 2013 we had a lot of fun on our Facebook page by asking fellow small business owners to share some tips for 2014 with all of us.  They were really great and we want to recap them all in one place for you here now.  Make sure to check out all of their great insights (the videos are all in the 1-2 minute length range) and then head over and check out the websites and Facebook pages for these businesses - they are all great resources!

Shawn MacDonell

We started off Shawn MacDonell who is fun and great at getting people to think differently and creatively about everything that they do.  In this video Shawn talks about how to dress for success and the message he shares applies to so many parts of life as a business owner - be your authentic self.

Marisa Goudy

Marisa is one half of the Online Empowerment Formula.  They help you create a web site that works for your business.  In this video Marisa talks about how important it is to make what you do clear on your web site.  Watch the video and then share YOUR USP with us.

Lara Galloway

Lara Galloway is another part of an amazing duo!  MomBiz is an incredible resource for business owners who are moms.  Running a business while being a mother is a very different thing than running a business is for other demographics.  In this video Lara goes over 5 simple things to keep in mind when starting out the new year.

Amanda DeGrace

Amanda runs a business called Little Lotus Yoga and runs yoga classes for kids.  She started outsourcing in 2013 and shares how valuable she found that to be.  If you’re in the Ottawa area and have young kid, check out some of the programs she offers!

Lara Wellman

I did a short video issuing a challenge.  I think a lot of people avoid certain new tasks and tools because it feels harder than it actually is.  So I challenge people to just write something - they don’t even need to share it! Once the first blog post or newsletter is written, or the first video is recorded, it gets a lot easier to keep going!

Shelagh Cummins

Shelagh is the second half of MomBiz and offers a great tip on clarity.  It’s one we all need to think about a bit more clear not only with our audience but with ourselves.  

 

Elaine Morgan

Elaine owns BalanceSheets.ca and gives us some good tips on taking care of the books in 2014.  Starting the year off right and tracking how you’re doing over the year is so important and something that is so easy to let slip.

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We hope you enjoyed the videos we shared - please let us know in the comments if this is the kind of thing you’d like to see again in the future.  And again, please go and check out all of these great businesses and support them!  Happy 2014!

Small business resources: in-person networking opportunities

One of the biggest opportunities with social media, in my opinion, is building on a relationship you recently formed in person.  For example, you meet two people at a local networking event in the pring and then see them both again at the same networking event in the fall.  

You remember talking to the first person and maybe even think you remember what they do, but you don’t remember their name.  You smile and awkardly tell them it’s nice to see them again and wonder if someone else will walk up so that you can hear this person introduce themselves to that person so you don’t have to admit you can’t remember a thing about them.

The second person tweeted you that very day to tell you it was nice to meet you and then connected with you on LinkedIn within 48 hours.  Since then you’ve chatted about some of the articles he’s shared and he’s asked you a few questions on what you do based on your tweets and LinkedIn activity.  When you see them again, for only the second time ever in person, you feel like you know them well.

Today I’m sharing three ideas for ways you can get out into your local business community to meet other small business owners and potential clients.

Networking clubs

You can join a networking club.  Some require weekly attendance, and some don’t.  These types of clubs give you the opportunity to really get to know a group of business owners so you can build a network for referals.  Each club will never have more than one person in your industry which means you aren’t competing agaisnt a lot of other people doing exactly the same thing as you do.

While these clubs don’t work well for every business owner, there is a lot of opportunity for business owners who can work together (mortgage brokes, insurance, realtors, home inspectors, etc) to find a a real resource, and it can also be great for someone who works in a less common field (like social media) because you can visit other chapters and promote yourself.

A few examples of these types of groups include BNI, SSN and GR Networking (we’re a member of GR).

Special interest networking groups

There are a lot of groups that cater to smaller interests.  You can find women’s groups, tech based groups, community based groups, industry based groups - the options are limitless!

Here are a few ideas to get you started:

Meetup.com has great events just about everywhere.  (We often attend Third Tuesday)

Eventbrite has become a go to place to sell event tickets and is therefore a great resource for finding events to attend.

Women’s networking groups.  Almost every community has them.  We’re a member of a few including the Women in Biz Network and the Women’s Business Network (they’re all called really similar things so good women’s business network and your city and you’ll probably come up with something!)

Your local Chamber of Commerce

Karen and I are both members of two of the Ottawa-area Chambers of Commerce.  I’m a member in Orleans and she’s a member in Kanata. By getting to know other business owners you create relationships that open the doors to not only more customers but more publicity and potential partnerships.  

Right now we’re nominated for a Business Excellence Awards with the Orleans Chamber because of our involvement (and we’d love for you to take a second to vote for us too - we’re in section 14 :)

Where do you like to go for in-person networking?  Leave a comment and let us know!

Connection without overwhelm

One of the things we endeavour to do for our audience is simplify social media.  We know how overwhelming all the tools and rules and best practices can be.

But it’s not just social media.  Running a business can be overwhelming.  Launching products, making sales, creating partnerships, etc. That’s why we’re excited to join twelve other leaders and entrepreneurs who really understand these ideas in a free telesummit called Connection Without Overwhelm. All of the guest experts in this series embody “Online Empowerment” in different ways and are thrilled to share their stories, their strategies, and systems for online and offline success with you. 

Lara will be talking about keeping social media simple on October 16 at 2pm, and there will be a session at 10am and 2pm EST Tuesday-Thursday the week of the 14th and of the 21st.  There are 12 sessions in all and they will be a great resource for small business owners.

Please register for Connection Without Overwhelm and discover how you can build relationships, do work that matters, and find balance online. The sessions are live October 15 through 24. You’ll receive all of the recordings (and some bonuses) when you sign up at: www.OnlineEmpowermentSeries.com

Hope to see you there!

 

Small business resources: YouTube channels

As small business owners we’re always on the lookout for resources that can help us make our businesses better.  Today we’re sharing three of OUR favourite YouTube channels because we think they can also help you.

Marie TV

Marie Forleo is someone we have learned a lot from, both through her Marie TV series but also by taking some of her programs.  She has great insights about online marketing as well as many other areas of business.  Here is a video on being more productive when working from home:

Social Triggers

Derek Halpern dives in to the psychology behind customer response, helping you figure out why people do things and what you might be able to change in your own behaviour or the content that you create to increase sales or traffic to your site.  Here is a video on dealing with customers who try to haggle on pricing with you:

James Wedmore

Video is such an important tool for businesses and James Wedmore does a great job of explaining how you can do them well.  Here is a video that breaks down some of the types of videos it’s good for businesses to have:

We hope you can get a lot of value from these resources.  Explore their channels; there is an incredible amount of valuable content to be found on them!

Leave a comment and share some of the video resources you’ve found that are helpful to small business owners!