Grow A Small Business Podcast
Troy Trewin
Our weekly 30 minute podcast helps you, a small business owner with 5 to 30 team members, take your company to the next level. The Grow A Small Business community, weekly cast, blog and leadership email supports leaders get through the pain of growth.
With insights, lessons learned, books and tools as well as habits these experienced small business owners suggest you develop, our interviews unearth tremendous value for anyone wanting to grow their business with less stress.
With insights, lessons learned, books and tools as well as habits these experienced small business owners suggest you develop, our interviews unearth tremendous value for anyone wanting to grow their business with less stress.
Episodes
Mentioned books

Aug 20, 2024 • 35min
Mastering Team Growth: Secrets to Hiring Top Talent, Cultivating a Thriving Culture, and Balancing Professional Development | Learn from Good to Great, Effective Mentorship, and Essential Tools for Small Business Success. (Episode 555 - Lesley van Tuil)
In this episode of Grow a Small Business, host Troy Trewin sits down with Lesley van Tuil about scaling a small business. Lesley shares insights on hiring top talent, building a strong culture, and balancing professional development. They discuss key strategies, including the impact of mentorship and tools like Good to Great. Tune in for practical advice and personal growth tips for entrepreneurs. Other Resources: An easy way to measure if your customers love you in 21 minutes – use the Net Promoter Score (NPS). And it's FREE. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Lesley van Tuil identifies the hardest thing in growing a small business as the need for constant flexibility and adaptability. She emphasizes the challenge of keeping up with rapidly changing industry patterns and making quick, effective decisions amidst evolving conditions. What's your favourite business book that has helped you the most? Lesley van Tuil's favorite business book is "Good to Great" by Jim Collins. She finds it particularly impactful for understanding how any business, regardless of its starting point, can grow into a significant, successful enterprise. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Lesley van Tuil recommends the Manager Tools podcast as a valuable resource for small business growth. The podcast offers concise, practical advice on management and professional development, making it a great tool for addressing team issues and improving business skills. What tool or resource would you recommend to grow a small business? Lesley van Tuil recommends having the right support systems as a key resource for growing a small business. This support can vary for each person but is crucial for success, providing the necessary guidance and assistance to navigate business challenges effectively. What advice would you give yourself on day one of starting out in business? Lesley van Tuil advises herself on day one of starting out in business to not focus on the small things. She suggests that many of the concerns that seemed critical at the beginning will turn out to be insignificant in the long run, and everything will eventually fall into place. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: The right people on your team are the key to unlocking extraordinary growth — Lesley van Tuil Flexibility and quick decision-making are crucial in navigating the ever-changing landscape of business — Lesley van Tuil Building a kick-ass culture starts with genuine personal connections with your team — Lesley van Tuil

Aug 18, 2024 • 39min
Passion to Powerhouse: Dave McQuillen's Sufferfest Journey: Explore how Dave scaled Sufferfest with his exceptional team, reshaped cycling culture, and the strategies behind his success and their impact on the cycling world. (Episode 554 - Dave McQuillen)
In this episode of Grow a Small Business, host Michael Denehey interviews Dave McQuillen, the founder of Sufferfest (wahooX), shares his journey from passionate entrepreneur to scaling Sufferfest into a leading cycling brand. He discusses the role of his exceptional team in reshaping cycling culture and reveals the strategies that fueled their success. Tune in to discover insights into growing a business and making a significant industry impact. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Michael delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? According to Dave McQuillen, the hardest thing in growing a small business is choosing what not to do. He emphasizes the importance of focusing on what truly drives success and avoiding distractions from bright, shiny objects that can divert attention and resources. What's your favorite business book that has helped you the most? Dave McQuillen's favorite business books are "Why We Buy" by Paco Underhill and "Setting the Table" by Danny Meyer. He values "Why We Buy" for its insights into consumer behavior and merchandising, and "Setting the Table" for its lessons on customer experience and leadership. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Dave McQuillen didn't find podcasts to be particularly influential during his time with Sufferfest, but he mentioned enjoying cycling podcasts now that he's out of the industry. For growing a small business, he emphasizes the importance of tools that facilitate meaningful conversations with customers, rather than just quantitative surveys. Prototyping ideas and getting feedback directly from users is also crucial. What tool or resource would you recommend to grow a small business? Dave McQuillen recommends using tools that facilitate direct, meaningful conversations with customers. He emphasizes the value of prototyping ideas and gathering feedback through interactive discussions rather than relying solely on quantitative surveys. What advice would you give yourself on day one of starting out in business? Dave McQuillen advises that he might not give himself any specific advice on day one. He believes that if he had known how challenging and consuming the journey would be, he might have been too scared to start. Embracing the unknown and adapting as things progressed was, in his view, advantageous to his success. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Invest in your team; it's the best way to scale your business effectively – Dave McQuillen Understanding your customers daily is crucial; it's not something you can delegate – Dave McQuillen The most transformative industry changes are often the hardest to recognize and act on – Dave McQuillen

Aug 15, 2024 • 24min
QFF: Unlocking Business Success with Greg Crabtree: From Founding Simple Numbers to Generating $20M in Revenue with a 30-Member Team - Essential Financial Strategies for Small Business Owners to Maximize Profit and Growth. (Episode 553 - Greg Crabtree)
In less than 20 minutes a week, we'll introduce you to an expert or business owner with deep experience in what they do. Grow you, grow your team, grow a small business. In this episode of Grow a Small Business, host Michael Denehey interviews financial expert Greg Crabtree from Carr, Riggs & Ingram (CRI) shares the principles behind his company, Simple Numbers, which successfully generated $20M in revenue with a lean team of 30 members. Greg discusses key metrics for small business success, including the importance of maintaining two months of cash flow and the Total Labor Efficiency Ratio (LER). He offers actionable insights for optimizing profitability and managing capital effectively. Key Takeaways for Small Business Owners: Simplify Financial Reporting: Use Simple Numbers to present financial data clearly and make it actionable, moving beyond traditional accounting practices. Focus on Gross Margin: Prioritize gross margin over revenue to accurately assess business health and profitability. Revenue alone can be misleading. Implement the Total Labor Efficiency Ratio (LER): Aim for $2 of gross margin for every $1 of labor to ensure efficient use of resources and boost profitability. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for? Maintain Two Months of Cash Flow: Having two months of operating expenses in cash and zero line of credit debt is crucial for financial stability and effective decision-making. Avoid Overcapitalization: More than two months of cash can lead to complacency. Properly manage excess capital to avoid underperforming investments. Use Rolling 12-Month Data: Analyze financial metrics over a rolling 12-month period rather than monthly to get a more accurate picture of business performance. One action small business owners can take: One actionable step small business owners can take is to calculate their Total Labor Efficiency Ratio (LER). Aim to achieve at least $2 of gross margin for every $1 spent on labor. This metric will help you gauge labor efficiency and ensure that your business is operating profitably. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximize your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇 Quotable quotes from our special Grow A Small Business podcast guest: Revenue is vanity; gross margin is reality – Greg Crabtree The most important number on the P&L is the contribution margin, not profit – Greg Crabtree Simplify your financial data to make it actionable and insightful for better decision-making – Greg Crabtree

Aug 13, 2024 • 38min
Mastering Business Success with Nikki Chamberlain: Discover How Outsourced HQ Achieved $600K Revenue and Grew to 23 Team Members—Insights on Building a Strong Culture, Strategic Mentoring and Sustainable Growth Practices. (Episode 552 - Nikki Chamberlai
In this episode of Grow a Small Business, host Troy Trewin sits down with Nikki Chamberlain, Founder of Outsourced HQ, shares how she reached $600K in revenue and scaled to 23 team members. She delves into her strategies for building a dynamic company culture, the significance of strategic mentoring, and approaches to sustainable growth. Tune in for actionable insights and key strategies for driving business success. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Nikki Chamberlain believes that the hardest thing in growing a small business is moving out of a reactive mindset. It involves delegating tasks effectively and trusting others to handle responsibilities, even if they might not execute them with the same precision or capacity as the business owner. This shift from managing every detail to empowering a team is crucial for sustainable growth. What's your favourite business book that has helped you the most? Nikki Chamberlain's favorite business book that has helped her the most is "The Diary of a CEO" by Steven Bartlett. She found it particularly insightful for its practical advice on business and personal development. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Nikki Chamberlain recommends the "Build" podcast by Layla Hall-Moses, which focuses on building effective teams and fostering a strong company culture. For online learning, she suggests exploring resources that emphasize team dynamics and professional development. What tool or resource would you recommend to grow a small business? Nikki Chamberlain recommends using a CRM tool like Dubsado. It helps automate up to 80% of daily paperwork, including client onboarding, forms, contracts, and communications, streamlining operations and maintaining long-term client relationships. What advice would you give yourself on day one of starting out in business? Nikki Chamberlain would advise her day-one self to ask for help sooner and to avoid being too proud. She emphasizes the importance of reaching out for support and guidance early on, rather than trying to handle everything alone, even if it feels daunting. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Don't let pride keep you from seeking the help you need to succeed – Nikki Chamberlain Effective mentoring is a cornerstone of sustainable business growth – Nikki Chamberlain The cost of replacing great staff far exceeds the investment in their happiness and growth –Nikki Chamberlain

Aug 11, 2024 • 38min
Balancing Business and Life: Mark Hubbard's Journey on Building Teams, Effective Communication, Strategic Planning, and Successful Exits - Essential Tips for Sustainable Growth and Realistic Forecasting. (Episode 551 - Mark Hubbard)
In this episode of Grow a Small Business, host Troy Trewin interviews Mark Hubbard, the successful founder of Blizzard Brewery. Hubbard shares his journey of growing the brewery from its inception to a successful exit, discussing the challenges he overcame and the strategies that drove his success. He emphasises the importance of strategic planning, effective communication, and achieving work-life balance. Hubbard's insights offer valuable lessons for entrepreneurs aiming for long-term business success. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, being a learner again when moving into a new industry, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? According to Mark Hubbard, the hardest thing in growing a small business is sustaining growth. He points out that while growth is rewarding and necessary for business success, it requires continuous innovation and idea generation. Keeping up with growth can feel like a relentless treadmill, where you must consistently find ways to achieve and sustain progress. What's your favourite business book that has helped you the most? Mark Hubbard's favorite business book that has helped him the most is The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter by Michael Watkins. He found it particularly useful for establishing discipline and meeting deadlines when opening his business. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Mark Hubbard suggests listening to industry-specific podcasts such as Brews News and those from Crafty Point Media. These podcasts help him stay plugged into the brewing community and feel part of the industry. For broader learning, he also finds value in online learning tools that keep business owners informed and engaged. What tool or resource would you recommend to grow a small business? Mark Hubbard recommends using planning and forecasting as a key tool for growing a small business. He emphasizes the importance of creating realistic forecasts and plans that genuinely reflect what you can achieve. Accurate forecasting serves as a practical roadmap for business growth and helps avoid unrealistic expectations. What advice would you give yourself on day one of starting out in business? Mark Hubbard advises that on day one of starting a business, you should focus on the concept of "how do you eat an elephant? One bite at a time." This means breaking down your grand vision into manageable steps and making steady progress toward your goals. Having a clear plan and taking it step by step will help you navigate the overwhelming aspects of starting and growing a business. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Growth can be a master, rewarding yet demanding continuous innovation and ideas – Mark Hubbard Balance is key; without it, you may find yourself held hostage by your own business – Mark Hubbard Success in business starts with a clear vision and tackling it one step at a time – Mark Hubbard

Aug 8, 2024 • 16min
QFF: Unlocking Sustainable Growth: A Blueprint for Wasteless Marketing to Boost Profits and Impact. Focus on sustainable practices to reduce waste while driving business growth and enhancing financial performance. (Episode 550 - Neil Krikul)
In less than 20 minutes a week, we'll introduce you to an expert or business owner with deep experience in what they do. Grow you, grow your team, grow a small business. In this episode of Grow A Small Business, host Rob Cameron interviews brand and marketing consultant Neil Krikul. Neil breaks down the word 'sustainability' and shares how he integrates it into marketing strategies, emphasising the importance of commercial outcomes before maximising societal and environmental impacts. Neil shares insights from a recent product launch case study, emphasising strategies to minimise advertising waste. His key advice for small business owners is to prioritise by doing less and outsourcing where possible, allowing more time to focus on impactful activities. Listeners can also access his free eBook, offering practical tips to save time and money by reducing marketing waste. Key Takeaways for Small Business Owners: Integrate Sustainability: Incorporate sustainability into your brand strategy and you'll benefit from being the leader. It's not just about communicating sustainability but also demonstrating it through actions. Understand Your Market: Conduct thorough research to understand your business's position in the market, customer motivations, and competitive landscape. Use both qualitative and quantitative data for a comprehensive view. Minimise Marketing Waste: Adopt zero-based budgeting for your marketing efforts. Focus on reaching the right audience with optimal frequency to avoid wasting advertising spend. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for? Prioritise and Focus: As a small business, prioritise your efforts and resources. Concentrate on high-impact activities and delegate tasks where possible to maximise efficiency. Leverage Data: Use data to inform your strategies and measure effectiveness. Track both qualitative insights (like customer feedback) and quantitative metrics (like analytics) to guide decisions. Offer Practical Resources: Utilise tools and resources, such as Neil's free ebook on minimising marketing waste, to implement effective strategies and improve your marketing outcomes. One action small business owners can take: One actionable step small business owners can take, according to Neil Krikul, is to adopt zero-based budgeting for their marketing efforts. This involves setting your marketing budget based on specific objectives and needs rather than historical spend, allowing you to allocate resources more effectively and minimise waste. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximise your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇 Quotable quotes from our special Grow A Small Business podcast guest: Sustainability in branding is not just about talking the talk but walking the walk with genuine actions – Neil Krikul Understanding both qualitative and quantitative data is crucial for developing a well-rounded marketing strategy – Neil Krikul Zero-based budgeting helps you allocate your marketing spend based on real objectives, not just past budgets – Neil Krikul

Aug 6, 2024 • 38min
Empowering Pleasure: How Girls Get Off Revolutionised the Sex Toy Industry with $2M Revenue and a Team of 5, Normalising Female Pleasure and Creating a Safe Space for Exploration in Sydney, Australia. (Episode 549 - Viv Conway)
In this episode of the Grow a Small Business podcast, host Michael Denehey interviews Viv Conway, co-founder of Girls Get Off, a sex toy company that has generated nearly $2 million in revenue with a team of five. Viv shares her entrepreneurial journey, the challenges of normalising female pleasure, and the innovative marketing strategies that have helped her business thrive in a traditionally taboo industry. Tune in to hear how Viv is changing perceptions and creating a supportive community around sexual wellness. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Michael delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Viv Conway, co-founder of Girls Get Off, highlights that one of the hardest aspects of growing a small business is overcoming societal taboos and perceptions around the sex toy industry. She emphasises the importance of normalising conversations about female pleasure, which has historically been stigmatised. Additionally, she notes that navigating market competition and ensuring a positive customer experience are significant challenges. What's your favourite business book that has helped you the most? Viv Conway highlights "The Big Leap" by Gay Hendricks as her favourite business book. She appreciates its insights on building a successful business through continuous innovation and validated learning, which have been crucial in her entrepreneurial journey. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Viv Conway recommends podcasts and online resources for entrepreneurs growing their small businesses. She emphasises engaging with content that normalises taboo topics like sex and pleasure. Additionally, she suggests platforms offering practical advice and strategies for niche markets. These resources provide insights into innovative marketing techniques and community building, crucial for business success. What tool or resource would you recommend to grow a small business? Viv Conway recommends that her favourite app at the moment is Slack... If you could implement one thing that would improve your efficiencies, I'd highly recommend Slack, particularly for remote teams. What advice would you give yourself on day one of starting out in business? On day one of starting Girls Get Off, Viv Conway would advise herself to embrace the journey with confidence and authenticity. She would emphasise the importance of normalising conversations around female pleasure and not being deterred by societal taboos. Additionally, she would recommend focusing on building a supportive community and leveraging humour in marketing to create a welcoming environment for customers exploring sexual wellness. Finally, she would encourage staying adaptable and learning from feedback as the business evolves. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Exercise is the number one most important habit for small business owners – Viv Conway Sometimes you're the only person who puts limits on yourself – Viv Conway Understanding exactly what you want from a new hire before bringing them on board is crucial – Viv Conway

Aug 4, 2024 • 1h 15min
Email Success Story: Founder of Senders Shares Insights on Growing His Email Deliverability Business to $5M in Revenue with a 30-Member Team - Overcoming Email Challenges and Mastering Marketing for Business Growth. (Episode 548 - Benny Rubin)
In this episode of Grow a Small Business, host Troy Trewin interviews Benny Rubin, Founder of Senders, Benny shares insights on how he scaled his email deliverability business to serve hundreds of clients, generate millions in revenue, and send tens of millions of emails annually. He covers solutions for email sending and delivery challenges, the technical details involved, and the critical role of email marketing. Benny also highlights the importance of continuous testing and iteration in marketing strategies to drive business growth. Other Resources: Business Transformation ProgramMarketing Funding Flywheel Ebook Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Benny Rubin believes the hardest thing in growing a small business is managing the mental game, including dealing with self-doubt and the uncertainty of success. Even with confidence, the psychological challenges can be significant and ongoing. What's your favourite business book that has helped you the most? Benny Rubin's favourite business books include "Built to Sell" for its insights on preparing a business for sale, "The E-Myth Revisited" for its focus on working on your business, and "King Larry" for its unconventional story of DHL's founder. He values books that provide both practical advice and historical perspectives. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Benny Rubin prefers historical business books and insightful podcasts over modern advice. He recommends Nathan Latka's podcast for quick, actionable SaaS insights and John Marlowe's podcast for valuable exit strategies. For a broader view, "The Man Who Solved the Market" offers foundational knowledge on high-frequency trading. What tool or resource would you recommend to grow a small business? Benny Rubin recommends Missive, an email tool that transforms emails into a chat interface for team collaboration. It allows for seamless communication and drafting, enabling efficient management and integration of client interactions without traditional email complexities. What advice would you give yourself on day one of starting out in business? Benny Rubin advises himself to "stay calm and carry on." He emphasises the importance of maintaining composure and keeping focused, despite the challenges and lengthy discussions about uncertainties. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Work should never feel like a grind; if it does, something's off – Benny Rubin Stay calm and carry on; keep your head in the zone despite the uncertainties – Benny Rubin For a clear perspective, focus on historical insights rather than breathlessly chasing the latest trends – Benny Rubin

Aug 1, 2024 • 23min
QFF: Unlocking the Power of Behavioral Economics: Melina Palmer on Effective Pricing Strategies and Customer Psychology- Discover How to Transform Your Business with High Anchors, Bundling, and Thoughtful Pricing Techniques. (Episode 547 - Melina Palmer)
In less than 20 minutes a week, we'll introduce you to an expert or business owner with deep experience in what they do. Grow you, grow your team, grow a small business. In this episode of Grow A Small Business, host Michael Denehey interviews Melina Palmer founder of The Brainy Business. Melina shares insights on effective pricing strategies, customer psychology, and how behavioural economics can transform your business. Learn practical tips on using high anchors, bundling, and thoughtful pricing to boost sales and customer satisfaction. Key Takeaways for Small Business Owners: Understand Subconscious Decision-Making: Recognize that most customer decisions are made subconsciously. Use this knowledge to tailor your pricing and marketing strategies to align with how people naturally make choices. Confident Pricing is Crucial: Develop confidence in your pricing. A lack of confidence can lead to discounting and negatively affect customer perception. Ensure that your pricing reflects the value you provide. Leverage Anchoring Techniques: Use anchoring by presenting higher-priced options first. This makes subsequent options appear more affordable and increases the likelihood of higher-value purchases. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for? Incorporate Bundling Strategies: Create bundles of products or services to offer high-value options without needing to add new items. Bundling can also set a high anchor price, making individual items seem more reasonably priced. Align Pricing with Business Identity: Decide whether your business is positioned as a provider of quality or value. Tailor your pricing strategy to match this positioning, using whole numbers for quality and rounded-down figures for value. Communicate Pricing Changes Effectively: When adjusting prices, ensure that you and your team are clear on the reasons and benefits. Effective communication about pricing can help in overcoming internal resistance and gaining buy-in from all stakeholders. One action small business owners can take: According to Melina Palmer One actionable step small business owners can take is to implement anchoring in their pricing strategy. Start by presenting higher-priced options first to create a perception of value, making subsequent lower-priced options appear more attractive and affordable. This tactic can effectively increase the perceived value of your offerings and drive more sales. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximise your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇 Quotable quotes from our special Grow A Small Business podcast guest: Understanding subconscious decision-making can transform your pricing strategy – Melina Palmer Bundling products can create high-value perceptions without needing new offerings – Melina Palmer Confident pricing reflects the true value of your product or service – Melina Palmer

Jul 30, 2024 • 27min
Trail Running Business Success: Founder of Harrier Trail Running Shares Her Secrets to Achieving Consistent 30% YoY Growth and a 97% NPS. Discover Her Expertise in Growth, Quality, and Leadership. (Episode 546 - Kate Parker)
In this episode of Grow a Small Business, host Troy Trewin interviews Kate Parker, Founder of Harrier Trail Running Shares Her Impressive Journey and Secrets to Achieving Consistent 30% YoY Growth and a 97% NPS. Kate shares her experiences on scaling, managing quality, and navigating leadership challenges. She offers valuable insights into balancing work and life, and strategies for successful business growth. Don't miss this episode for practical advice and inspiration. Other Resources: NPS. An easy way to measure if your customers love you in 21 minutes – use the Net Promoter Score (NPS). And it's FREE. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? According to Kate Parker, the hardest thing in growing a small business is being confident in your choices. She highlights the challenge of navigating numerous potential paths for growth and making decisions with confidence in a rapidly evolving business environment. What's your favourite business book that has helped you the most? Kate Parker's favourite business books that have helped her the most are "The Seven Habits of Highly Effective People" by Stephen Covey and "How to Win Friends and Influence People" by Dale Carnegie. She finds these old-school business classics to be major inspirations for her. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Kate Parker recommends the Hammersley Brothers podcast for those in e-commerce, as it provides valuable insights. She also values funded courses for managerial and leadership development, which she takes advantage of through UK government schemes. What tool or resource would you recommend to grow a small business? Kate Parker recommends using Excel as a versatile tool for small business growth. She finds it invaluable for tracking KPIs, managing cash flows, and creating profit and loss statements, making it a foundational resource for business management. What advice would you give yourself on day one of starting out in business? Kate Parker advises herself on day one of starting out in business to "be strong, keep the focus, and don't settle for less than you expect." This guidance emphasises resilience, clarity, and maintaining high standards. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Constantly improve your product; quality is key to retaining customers – Kate Parker Be clear about role expectations to avoid difficult conversations later – Kate Parker As a leader, be confident in your choices and stay true to your vision – Kate Parker


