As a Philly sports fan, the last few months have sure had their share of ups and downs.
My beloved Philadelphia Phillies made it to the World Series and lost in Game 6.
The Philadelphia Union, a pro soccer team, lost in the MLS Cup Final in penalty kicks.
The Philadelphia Eagles lost the Super Bowl just over a week ago by a mere three points in the last two minutes of the game.
A lot of heartbreak, but also, a lot of celebration. These teams worked so hard to make it to the top of their game. We should celebrate their leadership and strength and I know they are going right back to training to get ready for next year.
The same is true for business. You will have your ups and downs. Sometimes you will be at the top of your game, another day you might be on a losing streak, but when it comes down to it, persistence and the ability to look at each challenge as a lesson for growth will take you far.
Speaking of training, the Phillies are back in spring training as of last week in Clearwater, Florida. This year is already flying!
For me, it’s the start of my 12th year in business and one thing I have been evaluating is pricing. Have you? I hope you are because everything is rising in cost. You’ve seen it at the grocery store, in your utility bills, at the mall, everywhere!
Since we are on a sports theme, think about the last time you went to any game at any major stadium or even a concert. If you bought a soda, nachos, a hot dog, a beer, a t-shirt – you probably paid a very high cost for it. You also paid for a certain seat. Be it close to the action or maybe up in the stands.
The stadium sets prices and customers choose to pay fees, based on what experience they want to have at the game or the show.
Once again, back to business. You should set pricing models that match your value and allow your clients/customers to choose what level in which they are comfortable. Some of your clients might opt for all the extra bells and whistles and some might want to use your services on a smaller scale. Either way, your pricing needs to reflect the current times and the expertise you bring.
If you’ve been holding prices due to the pandemic, this might be the year to uplevel. Create new offerings, remove old ones, update existing retainers, reexamine your expenses.
Along with prices, what else do you need to focus on in 2023? All of the teams above not only have good coaching, they have good playbooks. They create plans and they implement them when it comes down to the big moment. What does your playbook look like? Does it need some rewrites? Are there areas on team, clients, vendors, software, processes, networking, financial, etc.?
And is your entire team on the same page? Are they working together toward the common goal? It might not be the World Series or the Super Bowl, but you are working toward your own personal or professional big game and I am here cheering for you all the way.
Friendly reminder that taxes are due April 18th. If you want to chat and get your books in order, give me a call or send me an email anytime.