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Now, it’s been 10 days since my last email after 2 years of non-stop dailies. Was on a trip in India with a client and it brought some perspective (besides the jetlag that really messed up my rhythm 🙃). It brought perspective about the level of impact. The scale of impact. Here’s a shift in my practice. From a perspective of one, to a perspective of one who leads. A small firm. A small business. If you’re running one of these you’re at a disadvantage. Or are you?? I’d argue that running a small biz gives you a few advantages:
Yet, it won’t be easy. You’ll have trade-offs. And you’ll need to decide the way. |
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Markup and cost-plus are not the only ways Pricing doesn’t get to be built up from the ground up. (And it's not math either). It’s not about how much something costs you and how much more you want to make. It doesn’t have to do anything with how much you know, how much time you spent learning your craft, how much effort you put into, or how much you think you deserve. It has to do with how much of the value (what’s important to your customers) they find reasonable for them to pay —and be...
Or is it? While revenue is important, it’s the wrong thing to measure to know if your business is doing well and can go a level up. It doesn’t require a rocket scientist to know that more revenue than costs makes profit. Yet revenue is the thing that can make you miss the mark. What happens if you're underpriced and leaving lots of money on the table? What happens if your costs are hidden and you're bleeding dry? Revenue is a vanity metric.
"You break things." I was told that. And it's been the best compliment EVER. Yes. You do, too. Breaking things.- Seeing how things are (the usual way, how it's been always done) and moving them to do something new. Intentionally. Moving people to think different. To be uncomfortable. To push boundaries. To do bigger. To feel vulnerable. That's how you stand out. You break things. Break things.