Are You Pushing your Business Pricing, or is it Pushing You?

We are at a strategic time in our business with it being year end, almost the end of the calendar year, and a growing business heading in multiple directions. For me it is an exciting time of year because I am a goal setting monster, I love trying to figure out where the company will go next year, where we have been, and how we got there. It does however create a challenge as to where you should increase pricing and what services or products we may have to drop. If a year is going good no one wants to lose clients and the challenge of raising prices is that once raised you may lose some of your clients that can’t afford or choose not to spend the extra money, so what do you do?

Raising pricing on a regular basis is critical to keep any company afloat, expenses rise cost of doing business goes up, and inflation changes how much our money is worth. If you don’t change pricing your business will not remain for the future. How you raise your prices is as important as when you raise your pricing. Just raising prices because you feel like it or you got ripped off on your last job is not a good reason and will make you look like you’re trying to take advantage of people. I find the best time to raise prices if you have to is at the end of a calendar year. This way you give the impression and hopefully you did investigate the market and found a need to raise prices. We don’t raise prices every year, more so when required by business expenses or the market but certainly every three years. Keep your price increases to small amounts say $10 depending on your product or service. That way they aren’t as noticeable.

Now when you raise your prices you may get a resistance and you should be prepared to lose a few clients that feel the prices are out of range. That’s okay you will gain new clients down the road to replace those. This is where many of us are afraid to make the move we don’t want to lose clients. If you don’t make that move to raise pricing then the business is pushing you and will keep that fear in you and you will never raise your prices. You are the leader of your business and you need to cover your costs and make a profit. If you don’t you are either a non-profit business or your business is really a hobby. You need to push your business, don’t let it push you.

About the Author

Bruce Outridge is a business and leadership consultant with over 30 years experience in the transportation market. He is the author of the book Running by the Mile, and How to Start an Artistic Business in 12 Easy Steps. For more information on Bruce and his work please visit his website at www.outridge.ca

The Goal Challenge

I don’t often talk about death, but I do talk about goal setting very often. The difference this time is that I had a good friend of mine pass away over the last few weeks at a very young age. I have known him for almost 20 years, we have worked together, and seen each other with family socially so his passing hit us hard. He was 61 years old and found out through a sore shoulder that he had cancer. I saw him just in August and his treatment was going great and he looked amazing. Last week I got the cal that he had passed. I don’t think I have to tell you how devastated I was, but it made me think.

I have already been talking about leadership and business, I review my business plan on a regular basis, and refocus the whole business every December if required. I understand the importance of goals. My friend had goals and some he will never attain. When I mention goals to other people many understand and many don’t. I have heard too many times about people creating that bucket list and then trying to do it in their retirement, I have also heard of people making that bucket list and never making it to retirement. So the question is, what’s on your bucket list, what dreams and goals have you put down on paper and then stopped working towards because they were too hard or too far away? I am throwing out a challenge to everyone.

The challenge is this, I want you to create your bucket list, I like to use 6 month, 1 year, and 5 year goals, but you can use whatever you feel comfortable with and I suggest with timeframes attached. Now your challenge is to actively attain your goals and mark at least one goal off your list every year. You may not be able to hit everything but you will be moving forward in life. In my life I never want to go out wondering what if…? I also hate the thought of going with a life that was full of hard work and no fun. My friend worked very hard and was a great provider, I know I worked beside him for 12 years of the time I knew him. We may not have control of when life ends, we only have one life so we may as well use it the best we can.

About the Author

Bruce Outridge is a business and leadership consultant from Ontario Canada. He is the author of several business books titled “Running by the Mile”, and “How to Start an Artistic Business in 12 Easy Steps.” For more information visit his website at www.outridge.ca

Dreaming and Driving

John was loved by everyone, pleasant to be around, but was divorced. He had been driving for many years and always had a good rep-our with the people that he worked with. He usually was gone for many years during the holiday season because he was he was divorced so it didn’t make a difference. This year however he was one of their star drivers and as a reward was given the Holiday Season off with his family. As this was the first year that John was awarded this by the company he and his family had some big plans to make up for lost time in the past. In the regular course of visiting family and friends John was relaxing more and more. He began to enjoy the time off and began to let loose at the parties.

The party with his immediate family was the best, the whole family had arrived, his Dad was getting old and may not be around too much longer so John was determined to make the time extra special. They took pictures of everyone, caught up on new developments, and laughed over old memories. John had forgot all about driving a truck and his job at this point, he was having a great time. He was pacing himself with a few beers before dinner, a little wine as they carved the turkey, and then an after dinner liquor, but who’s counting. Then there was the beer while he celebrated the news of his Nephew to be, and the four beers while watching the hockey game replay with his Dad.

As he decided to leave for home he felt absolutely fine, the drinks had been spread out all day and surely the alcohol had been doused by the large meal and many pastries lining the table. It would only be a short drive home he had thought.

As he insisted he was fine he got in the car and proceeded to drive home. He was in such a good mood that night the drive seemed to be a dream. He was relaxed, happy, and enjoying the time he had off from his demanding job. As he drove down the road he remembered the memories from the night, the laughter, and the good times and then everything went black. He was woken up by the Police officer that noticed his car in the ditch, and opened the door to shut off the blaring horn. As the Paramedics removed John from the front seat he was dazed and unable to figure out where he was, all he remembers is everything going black. The Officer guessed that when John fell asleep he was so drunk and in such a deep sleep that he didn’t even feel the car go off the road and hit the tree, saving it from going off the cliff. John turned out to be okay, the thing that hurts the most is his pride. He now finds the bus very crowded and is still looking for work.

About the Author

Bruce Outridge is a leadership consultant for the transportation industry. Form more information on Bruce visit his website at www.outridge.ca . Please don’t drink and drive this holiday season.

Publicity-The Best Marketing You Can Get

I can’t believe they didn’t take the deal, I can’t believe they let that expertise slip through their fingers. That’s what most of us were thinking as we watched the latest version of Dragon’s Den last night. It was young entrepreneur night and a couple of university students had developed a computerized math game. The game had the attention and resources needed to take it past the scrutinization of the Dragons to create a bidding war. All five Dragons wanted in on the deal but with more equity and sides were taken based on the equity willing to take. In my mind the two young entrepreneurs should have taken the deal even with a 50% stake and gotten all five Dragons. Their counter offer to the Dragons took everyone off the table and the two left the show with nothing. The point is that they were written up in todays local paper as they are from my hometown and will probably get help just from being on the show. There was another little girl who had toeless socks and before her pitch was done my wife was on her website picking out her colour of choice. We have seen the same things happen on shows like American Idol, The Voice, and more where even if they don’t win the competition usually if you are in the top ten you will get some deal from somewhere.

The point of this is as entrepreneurs this may play into a big part of our marketing strategy. Instead of taking ads out in the local paper, or advertising in magazines and such it may be more effective for us to get out there and be in the news. Now I am not suggesting you rob a bank, or hurt someone in any way, but attend events, push yourself to the next level, and so on. For instance through my illustration business we have expanded into video production for clients. Many times the video needs some introduction and many people are not comfortable in front of a camera, so I jump in and do an interview to get it going. This has helped in a number of ways even though the videos aren’t about me. I am now known as an interviewer comfortable in front of the camera, it has made me very comfortable talking with people on camera and made me think quick on my feet when they forget what to say, and every time that video is watched my name goes in front of the people watching. I couldn’t buy that kind of advertising. Maybe you can host an event for your club, or possibly sit on the board of a business group. I am sure pictures will be taken and cameras rolling so you could get some free publicity. Sometimes getting your name on camera without being the centre of attention can be the best marketing possible.

About the Author

Bruce Outridge is a business and leadership consultant specializing in the transportation market. For more information please visit his website at www.outridge.ca

When You’re Full You Need to Empty the Glass

This isn’t a post about drinking or how much I drank, this is about knowing when to take some time off. Since most of my posts are about business I am usually on the rant about making sure you are stepping up your game and taking full potential of the opportunities available for the business owner. There is a time when every body needs to wind down and recharge their batteries, but how do you know when that time is? Some people believe they should have every weekend off, my kids think like that. On the other hand some people can go years without taking time off and be perfectly fine, ask any weathered sea man. I am somewhere in the middle. I believe in taking time off when you need it, not for the sake of it.

My businesses  operate on different schedules. I have one division that is very busy with corporate clients and the other division is very busy with retail clients. That is not good for a small office because the retail clients are busiest on weekends and after normal work hours. The corporate clients are busy with meetings and programs during the work hours so you can see how this begins to be a problem as far as taking time off. Many Owner Operators fall into this trap due to the fact that their job is to travel and there are so many ways they can be held up from weather to construction, border delays, and more. Like everyone else money isn’t made if the wheels aren’t moving.

The secret to knowing when you should take time off is to know your body. When you start being irritable for no reason unless of course you are normally like that, if you feel sluggish and tired much of the time, or you just feel out of sorts then you may just need a day off. The needs will change with the individual and their profession so don’t go by someone else’s time table. In my mind there is no shame in going to bed early or taking a day off if it will keep you on the top of your game, your business depends on it, however your health depends on good rest and once in a while a day off is the answer.

About the Author

Bruce Outridge is a business and leadership consultant with over 30 years experience in the transportation industry. For more information on Bruce and his programs please visit his website at www.outridge.ca