Episode 77 - Matt and Adam - Pricing Strategy

In this episode hosts Moose and Adam discuss their return after a brief hiatus, sharing personal updates and insights into their business strategies. They emphasize the importance of consistent marketing efforts, networking, and understanding market dynamics. The conversation also delves into pricing strategies and the challenges of navigating a fluctuating market, highlighting the need for patience and a solid understanding of one's business metrics. In this conversation, Moose and Adam discuss the importance of understanding one's worth in business, the significance of proper pricing strategies, and the necessity of tracking financial performance. They emphasize the need for a growth mindset while also advocating for contentment with current resources. The dialogue highlights real-world examples of how businesses can succeed by making informed decisions and maintaining a focus on profitability. Takeaways

• It's important to stay consistent with marketing efforts.
• Networking can yield significant ROI for businesses.
• Patience is key; results may take time to manifest.
• Consumer spending trends can impact business operations.
• Avoid blindly increasing marketing budgets without strategy.
• Know your pricing and understand your costs.
• Utilize community engagement for business growth.
• Different strategies work for different markets.
• Don't compare your business to others; focus on your own metrics.
• Be prepared for market fluctuations and adjust accordingly. Know your worth when bidding for projects.
• Choosing the cheapest option can lead to higher costs later.
• Investing in quality work pays off in the long run.
• Understanding your financials is crucial for business success.
• Don't confuse busy work with productive work.
• Pricing should reflect the value and quality of service.
• Contentment with current resources can lead to better financial decisions.
• Tracking time and expenses helps in understanding profitability.
• Raising prices can lead to increased revenue even with fewer clients.
• There are various definitions of success in business.