Financial and Lifestyle Freedom for UK Business Owners
Business:Management
In this episode, I discussed the current economic climate of slow wage growth and high inflation leading to the cost of living crisis situation. You will hear how this impacts businesses and why it is essential to understand the situation even if you are in a B2B environment.
I suggested ways to navigate pricing and revenue strategy in a declining economy, such as cost-cutting, reducing waste, and streamlining processes to be more efficient with operations.
Additionally, you will learn to assess the value stack and different pricing points to provide options for price-sensitive buyers. I highlighted the importance of value-based pricing, even during tighter economic times, and suggests an exercise to help businesses understand the value they deliver and how it links to price.
Finally, find out the importance of being transparent with pricing and communicating any price increases to customers or clients.
Overall, this episode provides practical tips and strategies for navigating the cost of living crisis in a business, ensuring profitability, and delivering value to customers and clients.
Resources:
If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247.
To know more about financial and lifestyle freedom and if you wish to receive updates on all the workshops that will help you increase your profitability and freedom from your business, just head on over to https://www.annetteandco.co.uk/want-our-emails/.
Connect with Annette Ferguson:
Facebook - https://www.facebook.com/UKAnnetteFerguson/
Instagram - https://www.instagram.com/annetteandco_/
YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA
Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners -
https://podcasts.apple.com/gb/podcast/financial-and-lifestyle-freedom-for-uk-business-owners/id1473582522
How to Go Beyond the Invisible Glass Ceiling and Not Slide Back with Swanette Kuntze
Overcoming Traumas That Manifest as Business Flaws with Tatiana Vilarea
The Gender Pay Gap and What Women Can Do About It with Emma Clayton
Leading your Business with Personal Branding with Louise Booth
How to Incorporate Fitness in Your Busy Schedule with Alix Hubble
Get Organized in Just 2 Steps with Abigail Langridge
Situational Leadership and Becoming Adaptable with Evan Tzivanakis
How to Price Your Services as a Small Business
Human Survival - Do we Fight, Flight or Freeze with Paul Wilson
Creating a Vision of Life in Business with Michala Leyland
Building a Legacy of Multi-generational Wealth With Carl Allen
Position Your Mindset and Start Manifesting With Daniel Mangena
Leveraging Service-Based Businesses Through Podcast Guesting with Jessica Rhodes
Rekindle the Passion and Excitement for Your Business With Jeff Chastain
Profit First for Growing Businesses With Mike Michalowicz
Secrets to Success: Three Great Tips
Are Christmas Party Expenses Tax Deductible?
The Profit Plan - Kindle Launch
Why Comparison is Critical to Success?
When Profit First Does Not Work
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
HCI Leadership Revolution
Human Capital Leadership
The Power of Music Thinking
BusinessWISE
Business Wars