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How a Higher Price Makes You More Competitive

March 4, 2022 by John Ray

North Fulton Studio

How a Higher Price Makes You More Competitive

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How a Higher Price Makes You More Competitive

As a professional services provider, don’t you have to lower your price to be more attractive to the marketplace? How does a higher price make you more competitive? Answers to these questions in this episode. The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

TRANSCRIPT

John Ray: [00:00:00] And hello again. I’m John Ray on the Price and Value Journey. How does a higher price make you more competitive? I was with the services provider the other day who I’ve had multiple visits with to talk about his pricing. “I raise my prices again,” he said. He went on to talk about the benefits he’d received from that move, including weeding out clients who aren’t a great fit. He also said it’s made me more competitive. Well, that comment raised my eyebrows as most entrepreneurs think higher prices make you less competitive, not more.

John Ray: [00:00:42] “How is higher pricing made you more competitive?” I asked him. “Well, it’s gotten me into larger companies,” he said. “The larger corporate clients I want to do business with see me as a serious player. They look at me and see me as a real company, which is what I am.”

John Ray: [00:01:01] If you’re a small business or solopreneur trying to break into the corporate market, pricing as a marketing signal becomes very important. The rationale keeping your price low because it’s easier for a corporate buyer to hire you is flat out wrong. Buyers inside corporations are invariably risk-averse. They fear missing the deliverable date on the project they’re working on. They fear the project getting screwed up by the vendor they hire, thereby incurring the wrath of not only their boss but the boss’s boss who comes down on both of them. Beyond looking incompetent, a bad decision could cost them a promotion or even their job.

John Ray: [00:01:45] This is one place where consultants, speakers, and other professional services providers get mixed up on what constitutes value. You’re so used to getting beat up by nickel-squeezing small business buyers that by the time you break into the corporate space, you don’t understand what’s valued. For a corporate buyer, there’s value in reliability in knowing the project will not just get done but will be done as agreed upon and completed on time.

John Ray: [00:02:17] Value comes in knowing a vendor has the resources to get and keep the project on track. There’s value in experience and reputation and consistency, evidenced in other corporate engagements successfully completed. By the way, it’s true for your best-fit clients among small businesses, too. The best ones, the ones you want to do business with don’t have time to penny-pinch. They’ve got big goals and they need vendors who can deliver. I’m not suggesting that price is unimportant. Price is always a consideration. Price, though, is just one factor as a risk-averse corporate buyer also weighs reliability, resources, experience, consistency, and reputation. It’s all these characteristics which make you competitive in the corporate market.

John Ray: [00:03:12] I’m John Ray on the Price and Value Journey. If you’d like to connect with me, go to johnray.co, or email me, john@johnray.co. Thanks for joining me.

About The Price and Value Journey

The title of this show describes the journey all professional services providers are on: building a services practice by seeking to convince the world of the value we offer, helping clients achieve the outcomes they desire and trying to do all that at pricing which reflects the value we deliver.

If you feel like you’re working too hard for too little money in your solo or small firm practice, this show is for you. Even if you’re reasonably happy with your practice, you’ll hear ways to improve both your bottom line as well as the mindset you bring to your business.

The show is produced by the North Fulton studio of Business RadioX® and can be found on all the major podcast apps. The complete show archive is here.

John Ray, Host of The Price and Value Journey

John Ray The Price and Value Journey — **John Ray, Host of “The Price and Value Journey”**

John Ray is the host of The Price and Value Journey.

John owns Ray Business Advisors, a business advisory practice. John’s services include advising solopreneur and small professional services firms on their pricing. John is passionate about the power of pricing for business owners, as changing pricing is the fastest way to change the profitability of a business. His clients are professionals who are selling their “grey matter,” such as attorneys, CPAs, accountants and bookkeepers, consultants, marketing professionals, and other professional services practitioners.

In his other business, John is a Studio Owner, Producer, and Show Host with Business RadioX®, and works with business owners who want to do their own podcast. As a veteran B2B services provider, John’s special sauce is coaching B2B professionals to use a podcast to build relationships in a non-salesy way which translate into revenue.

John is the host of North Fulton Business Radio, Minneapolis-St. Paul Business Radio, Nashville Business Radio, Alpharetta Tech Talk, and Business Leaders Radio. house shows which feature a wide range of business leaders and companies. John has hosted and/or produced over 1,100 podcast episodes.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®: LinkedIn | Twitter | Facebook | Instagram

GWBC Radio: Madianite McNichol with Madianite Concierge Gifting Services

May 11, 2020 by angishields

GWBC Radio

GWBC Radio: Madianite McNichol with Madianite Concierge Gifting Services

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Dr. Madianite McNichol, President and CEO of Madianite Concierge Gifting Services, is a research pathologist, born in Haiti, Cap-Haitian, but raised in the Turks & Caicos Islands by a single mom of 8 sons and 2 daughters.

Madianite currently lives with her husband and 2 daughters in Buford, Georgia. She’s a former bodybuilder/figure competitor and enjoys weight-lifting, running marathons, shopping, and spending quality time with her family.

Connect with Madianite on LinkedIn and follow Madianite Concierge on Twitter and Facebook.

Show Transcript

Intro: [00:00:04] Broadcasting live from the Business RadioX studios in Atlanta, Georgia, it’s time for GWBC Radio’s Open for Business. Now, here’s your host.

Lee Kantor: [00:00:16] Lee Kantor here. Another episode of GWBC Radio’s Open for Business. And this will be a fun one. Today, I have with me Madianite McNichol with Madianite Concierge Gifting Services. Welcome.

Madianite McNichol: [00:00:34] Thank you.

Lee Kantor: [00:00:36] Well, can you tell us a little bit about your service? How are you helping folks?

Madianite McNichol: [00:00:42] Oh, well, Madianite Concierge Gifting Services is a gifting experience company. Our main focus is to help that busy professional or that creative entrepreneurial innovative business to make an experience out of all their gifting occasion by taking the task of gifting completely off their hands and handling the entire process from sourcing and branding their gifts to beautifully wrapping and delivering to their recipient, we handled the entire process, whether it is a gift, something tangible, or an experience that they like to curate on their gift recipient.

Lee Kantor: [00:01:23] So, now, what makes a good gift? How do you know what the appropriate gift is for your client?

Madianite McNichol: [00:01:32] Well, that decision is really driven by a complication that we would typically have with our gift cert, if you would like to refer to them as that. The person looking to gift something would advise us on that recipient. Through a quick survey, we can determine whether that gift recipient is someone who would enjoy expensive wine, for example, or someone who will enjoy craft, or someone who perhaps does not prefer a chocolate or is allergic to nuts. And so, the experience is really tailored and catered for that recipient, so that it is something that is useful but, at the same time, can convey that recipient’s gift of gratitude.

Lee Kantor: [00:02:26] Now, how did you get into this line of work? Were you always good at getting people gifts?

Madianite McNichol: [00:02:32] It’s funny you ask. I’ve always been creative. And so, we discovered that there were a lot of creative entrepreneurs or innovative businesses that were looking for unique but yet convenient way to engage with their prospects or their clients. So, it was a no brainer that a service that can take that task completely off their hands, so that they can focus on running the business was essential.

Lee Kantor: [00:03:05] Now, what’s been the most innovative or interesting gift you’ve ever gifted for someone?

Madianite McNichol: [00:03:15] Well, it’s probably more common than people think but for us was very interesting. For example, we had a client that reside here in Georgia but really wanted to curate a experience for their son-in-law who was in the Virginia area that was really into craft beer. So, what we did is scoured their location around the Virginia area and talked to different brewers in that area to create a one-of-a-kind experience for that son-in-law. With our concierge approach, we were able to put a package together that would allow them to taste craft beer, some souvenirs from different brewers, and really tailor and create a unique day.

Lee Kantor: [00:04:03] So, you-.

Madianite McNichol: [00:04:04] So, although that sounds fairly common, but it was really something unique because it required some research.

Lee Kantor: [00:04:11] Now, so your client’s aren’t necessarily business people. They might just be doing this for a relative.

Madianite McNichol: [00:04:19] Correct. So, Madianite Concierge Gifting Services provides … there are two legs to our service. We provide a service for individuals. And then, we provide a gift event, calendar management for business owners’ event.

Lee Kantor: [00:04:36] Now, being a business that is run by a woman, do you think that there’s certain things that make it maybe challenging, more challenging that a man would face in business?

Madianite McNichol: [00:04:52] Absolutely. Women, there are many challenges that women entrepreneurs or women in business face. One of them is really defying social expectations. And most cases, women in business are expected to be a little bit more subtle and ideas-forward with their offering, especially during networking event. So, it goes with challenge. If a woman is a little bit too forward, you’re perceived as aggressive; whereas, if a male business owner may have had the same approach, then you would be considered as sharp or someone who’s very business savvy. But for women, it is perceived as aggressive.

Madianite McNichol: [00:05:43] Another challenge we face, and I think many business face that, is securing funding. A lot of women-owned businesses perhaps aren’t taken as serious. They’re probably perceived as hobby. And so, funding is not readily available. So, that’s a few, two of the many challenges that women in business will face.

Lee Kantor: [00:06:06] Now, do you have any advice for a woman that’s starting up a brand new business? What are some of the things that you wish you would have known when you started?

Madianite McNichol: [00:06:19] When I first started Madianite Concierge Gifting Services, one of the things I wish I knew early on is to be part of a community or part of an organization that will support and provide mentorship, especially in my line of business, it was not in a financial arena or one of those business arenas that are probably most common. And so, for me, finding mentors and organization that really could foster my creative endeavors was pretty hard. So, I wish I knew more communities and women organization that I could become part of to have that support.

Lee Kantor: [00:07:16] Now, how has GWBC helped you?

Madianite McNichol: [00:07:21] GWBC was actually one of the organizations that we stumbled upon that really has been instrumental in our growth, whether it was mentorship and really a wealth of resources that we could tap into. And so, there have been a great contributing organization to get to where we are currently.

Lee Kantor: [00:07:48] And when you going about doing your business during this difficult time, has there been any challenges that you’ve had to overcome during this crisis?

Madianite McNichol: [00:07:59] During this current crisis, this pandemic we are facing, some of the challenges that I think I’m facing and everyone is really finding unique ways to pivot and keep our business relevant; although our business is one that you would think would be most commonly used around this time of this pandemic because most people aren’t able to leave their home. So, using our service to stay connected to their loved one has increased, but sourcing the products that we need to provide a gift and the experience has also been difficult.

Madianite McNichol: [00:08:40] So, finding ways to remain creative and sourcing product that’s unique and really meeting the need of our client has been challenging. So, we’ve pivot with offering online tutorial where our client can probably design or create gifts that can be made from from home with products that’s already in their home. And so, we’re finding ways to meet that challenge by providing other options.

Lee Kantor: [00:09:16] So, you’re spending some of your time educating rather than necessarily selling, but that way, you can stay in front of the people that are important to you without being too salesy.

Madianite McNichol: [00:09:31] Exactly.

Lee Kantor: [00:09:32] And it is a tricky time now. How do you think that businesses in general are handling this new kind of work-from-home environment where maybe they were used to go into an office, and, now, they’re at home, and they’ve got their kids and their spouse, and it could get chaotic?

Madianite McNichol: [00:09:53] It could. It could really get chaotic. One of the things I think business owners or people who were formerly commuting or having to leave their home to do business, it’s hard for them now because they have to really find the balance because when you’re home, it’s hard to separate the two. You could have your business hat on all day but finding the balance to take time away, and enjoy a walk, or just really stepping away from your machine or your day-to-day routine to balance that one day out.

Lee Kantor: [00:10:38] Now, in your business, you mentioned the importance of having as a great support system. And you talked about GWBC. Are there other areas you go that kind of support you?

Madianite McNichol: [00:10:52] Yes, I have made it a point to join local chambers. Right now, we reside in Gwinnett. So, being part of the Gwinnett Chamber of Commerce, being part of the Atlanta Black Chambers, and being part of different organizations that we can tap into for resources.

Lee Kantor: [00:11:12] And then, does that help you just find other kind of like-minded business people, or do you get some education, or do you get some business? Like, what keeps you coming back to those meetings?

Madianite McNichol: [00:11:27] All of the above, really. There are resources for business owners, whether you’re just starting out or whether you are a veteran. There is exposure to connection and, also, exposure to look like-minded individuals that you can collaborate with and be inspired. So, really, all of the above.

Lee Kantor: [00:11:52] And now, if somebody wanted to learn more about Madianite Concierge Gifting Services and wanted to reach out to you, do you have a website?

Madianite McNichol: [00:12:01] Yes. If someone was interested in our services, we can be reached at www.madianite.com. That’s www.madianite.com.

Lee Kantor: [00:12:25] Well, thank you so much for sharing your story today.

Madianite McNichol: [00:12:29] Thank you. Thanks for having us.

Lee Kantor: [00:12:29] All right. This is Lee Kantor. We will see you all next time on GWBC Open for Business.

About Your Host

Roz Lewis is President & CEO – Greater Women’s Business Council (GWBC®), a regional partner organization of the Women’s Business Enterprise National Council (WBENC) and a member of the WBENC Board of Directors.

Previous career roles at Delta Air Lines included Flight Attendant, In-Flight Supervisor and Program Manager, Corporate Supplier Diversity.

During her career she has received numerous awards and accolades. Most notable: Atlanta Business Chronicle’s 2018 Diversity & Inclusion award; 2017 inducted into the WBE Hall of Fame by the American Institute of Diversity and Commerce and 2010 – Women Out Front Award from Georgia Tech University.

She has written and been featured in articles on GWBC® and supplier diversity for Forbes Magazine SE, Minority Business Enterprise, The Atlanta Tribune, WE- USA, Minorities and Women in Business magazines. Her quotes are published in The Girls Guide to Building a Million Dollar Business book by Susan Wilson Solovic and Guide Coaching by Ellen M. Dotts, Monique A. Honaman and Stacy L. Sollenberger. Recently, she appeared on Atlanta Business Chronicle’s BIZ on 11Alive, WXIA to talk about the importance of mentoring for women.

In 2010, Lewis was invited to the White House for Council on Women and Girls Entrepreneur Conference for the announcement of the Small Business Administration (SBA) new Women Owned Small Business Rule approved by Congress. In 2014, she was invited to the White House to participate in sessions on small business priorities and the Affordable Care Act.

Roz Lewis received her BS degree from Florida International University, Miami, FL and has the following training/certifications: Certified Purchasing Managers (CPM); Certified Professional in Supplier Diversity (CPSD), Institute for Supply Management (ISM)of Supplier Diversity and Procurement: Diversity Leadership Academy of Atlanta (DLAA), Negotiations, Supply Management Strategies and Analytical Purchasing.

Connect with Roz on LinkedIn.

About GWBC

The Greater Women’s Business Council (GWBC®) is at the forefront of redefining women business enterprises (WBEs). An increasing focus on supplier diversity means major corporations are viewing our WBEs as innovative, flexible and competitive solutions. The number of women-owned businesses is rising to reflect an increasingly diverse consumer base of women making a majority of buying decision for herself, her family and her business.

GWBC^® has partnered with dozens of major companies who are committed to providing a sustainable foundation through our guiding principles to bring education, training and the standardization of national certification to women businesses in Georgia, North Carolina and South Carolina.

E49 Project Management for Medical Devices and the Coronavirus

March 11, 2020 by Karen

Phoenix Business Radio

E49 Project Management for Medical Devices and the Coronavirus

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E49 Project Management for Medical Devices and the Coronavirus

Regardless your company size, we have you covered in this episode as we chat project management in the medical device field with leaders from startups and the largest medical device organization. Listen to hear Michael O’Connor with Medtronic and James Foley with Botanisol Analytics.

Michael is an award winning Project Management leader and is the Director of Strategy and Project Management at Medtronic. He shares his story working within a large corporation and the advantages and challenges that brings. We learn of specific activities such as PM Roundtable, Mentoring, Education, use of PM tools, and working across business units or an EPMO.

James is CTO at Botanisol Analytics and they are actively working to help develop a better detection system for the Coronavirus. James shares challenges a small startup faces to deliver projects more agile to satisfy larger customers. He leverages experience from his time in the military to a long career within corporate America prior to his startup experience. We also get a science lesson on how the Raman technology works to be able to detect COVID-19.

Michael and James provide great insight for those starting their project management journey. Don’t be afraid to seek out guidance, mentoring, and step up for leadership opportunities. Listen to hear their other advice for how to advance your project management career.

For those in the Phoenix area, be sure to register for the upcoming ASU PM Summit by visiting – https://uto.asu.edu/events/PM-Summit-2020

Tune in for upcoming shows with Project Management leaders and subscribe to the podcast on Apple Podcast, iHeartRadio, Spotify, Spreaker, Stitcher,or your favorite podcast platform!

Thanks to our sponsor THE PMO SQUAD. Visit www.thepmosquad.com to learn about the Purpose Driven PMO and all their project management services.

Michael O’Connor is Director of Strategy and Project Management with Medtronic was founded in 1949 as a medical equipment repair shop by Earl Bakken and his brother-in-law, Palmer Hermundslie.

Did these two men set out to change medical technology and the lives of millions of people? No. But they did have a deep moral purpose and an inner drive to use their scientific knowledge and entrepreneurial skills to help others.

That spirit — combined with our founders’ personal integrity and passion — became our guiding philosophy and, ultimately, the Medtronic Mission.
Our first life-changing therapy — a wearable, battery-powered cardiac pacemaker — was the foundation for many more Medtronic therapies that use our electrical stimulation expertise to improve the lives of millions of people.

Over the years, we developed additional core technologies, including implantable mechanical devices, drug and biologic delivery devices, and powered and advanced energy surgical instruments.

Connect with Michael on LinkedIn.

Botanisol Analytics, a start up company in the Phoenix Valley. Taking a patent from the University of Arizona commercial. Creating a mobile chemical detection system with the accuracy found in high end laboratories, with faster results and easier use. Illuminate the unknown.

Awards include: Acceptance in Techstars Air Force Accelerator Program, Center for Entrepreneurial Innovation (Arizona) and TechConnect Innovation Award 2019.

James Foley, CTO of Botanisol Analytics, is a US Naval Academy graduate. Demonstrated experienced dynamic leader with over 30 years of business, technical, domestic and international experience. Forward-thinker skilled in maximizing people, processes and assets to support strategic objectives, transform global operations and improve business performance in rapid-growth environments.

Adept at synthesizing nebulous or incomplete information into actionable plans suitable to meet current and future business needs. Highly skilled in leading strategic initiatives. Passion for developing high-performance teams. Particularly strong in managing within budgets, interpreting financial statements and incorporating methodologies to achieve maximum results.

Specialties: Raman, Manufacturing, ITAR, ISO13485, P&L Operations Management, Business Process Analysis & Re-engineering, Integrating Legacy & Emerging systems, Product Development, Team Development, Agile, Six Sigma, ITIL, ITSM and Cloud computing.

Connect with James on LinkedIn and follow Botanisol Analytics on Twitter.

ABOUT PROJECT MANAGEMENT OFFICE HOURS SERIES

Project Management Office Hours is intended to provide Project Management professionals a place to drop in and discuss Success Stories, Best Practices, and Lessons Learned. Project Management Consultant Joy Gumz has shared with us, “Operations keep the lights on, strategy provides the light at the end of the tunnel, but project management is the train engine that moves the organization forward.”

Each of us has a unique story to tell, but collectively we share a message that organizations who embrace Project Management Best Practices perform better than those which don’t. Organizations which align Projects to Strategy perform better. Organizations with Engage Executive Sponsors deliver better results. Organizations which measure Project Management performance outperform those which don’t.

During our Project Management Office Hours, we hear directly from Industry leaders how to make an impact in our profession. How we, collectively, will Advance Project Management Best Practices, One Listener at a time!

ABOUT YOUR HOST

Joe Pusz started THE PMO SQUAD to bring real world PMO Leadership experience to the consulting space and to advocate for Project Management through his blog PMOJOE.com. The old saying is “Do what you love and you’ll never work a day in your life.” Following this mindset Joe left Corporate America in 2013 to start THE PMO SQUAD and work with fellow Natural Born Project Managers to advance Project Management Best Practices.

ABOUT OUR SPONSOR

THE PMO SQUAD focuses exclusively on PMO and Project Management consulting. Corporate America is full of Accidental Project Managers running projects who haven’t been trained to be PMs. To help solve this problem THE PMO SQUAD is on the Leading Edge with PMO As a Service. PMO As a Service allows our clients to focus on their respective core competencies while THE PMO SQUAD delivers Project Management expertise. Contact Joe at 678-591-7868. Follow The PMO Squad on LinkedIn, Twitter and Facebook.

Gabriel Orthous with Central Georgia Health Network, Michael Starling with the City of Dunwoody, Katie Williams with Discover Dunwoody, Seven Chan and Mitch Jaffe with PH’EAST

June 18, 2019 by angishields

Atlanta Business Radio

Gabriel Orthous with Central Georgia Health Network, Michael Starling with the City of Dunwoody, Katie Williams with Discover Dunwoody, Seven Chan and Mitch Jaffe with PH'EAST

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Gabe Orthous, CIO executive at Central Georgia Health Network (CGHN), offering 20+ years of progressive experience as a value-based care strategic thinker and executor with a history of scaling and driving return on investment of complex healthcare IT solutions.

Michael Starling is the director of economic development for the City of Dunwoody. Katie Williams is the executive director for Discover Dunwoody, Dunwoody’s destination marketing organization. The two work alongside each other to help position the Perimeter Dunwoody Market as an ideal place to live, work and play.

Follow the City of Dunwoody on Twitter and Facebook.

Seven Chan is co owner of Poke Burri ,and Lifting Noodles Ramen and a developer of PH’EAST food hall. Mitch Jaffe owns Prep Kitchen and is an owner of PH’EAST food hall.

Women in Business – Session 6

June 1, 2016 by angishields

Chattanooga Business Radio

Women in Business - Session 6

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Katie King // Katie King Law

“How do you negotiate your value?”

Katie King is our introduction into the Corporate Women in Business series – “uncut”. On the show, Katie is talking about combining her experience of living in Chattanooga and expertise to move from a major utility company to her solo law practice.

“After working ten years as in-house counsel for a large energy and technology company, I decided to start listening to what used to be a whisper and grew into a shout from my heart. I decided to leave what was in many ways a dream job because I felt in my soul I was not doing what I was called to do.

I wish to be the kind of woman my daughter will be proud to know when she is grown. I wish to use my time, talents, energy and voice to help my clients achieve their dreams, to be a positive influence in my community, and to create opportunities for others.”