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Hamming It Up

December 28, 2022 by John Ray

Hamming It Up
North Fulton Studio
Hamming It Up
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Hamming It Up

Hamming It Up

Avoid “hamming it up”:  seasonal ham companies offer a cautionary example on price integrity and to coaches and other professional services providers.

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] Hello, I’m John Ray on The Price and Value Journey. It’s estimated that Americans consume over 300 million pounds of ham during the holiday season. Our family did our part as well. And in the coming days, we’ll be consuming a few ham sandwiches from the leftovers ourselves.

John Ray: [00:00:21] Unless you’re in a hurry or you’re a last minute shopper, you know that there’s no reason to pay full price for a ham if you’re buying from one of the seasonal ham companies. Coupons and so-called special offers abound year after year so that you’re conditioned to wait to get a discount. You know that full price is a fiction.

John Ray: [00:00:45] Professional services providers, if you feel you must, there’s nothing wrong with an occasional special on your course or your coaching group. But if you’re talking to me, I will try to talk you out of it. But if you must, go ahead. But when in post after post and one email newsletter or notice after another, you’re promoting limited time offers and “just a few seats remaining,” you’re becoming increasingly like the holiday ham companies.

John Ray: [00:01:20] Your audience knows that there’s always going to be more seats available because you will just make more. There’s always going to be a discount. There’s always going to be another coaching group that you’re starting up. You see, when you do it all the time, there’s no such thing as limited time or full price. And it damages perceived value and your pricing credibility. You’re selling yourself and your expertise as if you’re a glazed ham.

John Ray: [00:01:55] I’m John Ray on The Price and Value Journey. Past episodes of this series can be found at pricevaluejourney.com and also on your favorite podcast app. And I’d be grateful if you subscribe to the show on your favorite podcast app. And you’re welcome to email me directly, john@johnray.co is my email address. Also, big news for 2023, I’ve got a new book coming out. If you’d like more information on that, connect with me through email or on LinkedIn. 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, 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 1,700 podcast episodes.

Coming in 2023:  A New Book!

John’s working on a book that will be released in 2023. The book covers topics like value and adopting a mindset of value, pricing your services more effectively, proposals, and essential elements of growing your business. For more information, contact John below.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: coupons, discounts, ham, holiday ham, John Ray, Price and Value Journey, pricing, professional services, professional services providers, Sales, solpreneurs, value, value pricing

All I Want for Christmas Is You

December 21, 2022 by John Ray

All I Want for Christmas Is You
North Fulton Studio
All I Want for Christmas Is You
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All I Want for Christmas Is You

All I Want for Christmas Is You

What Mariah Carey’s song, “All I Want for Christmas is You,” has to do with delivering value as a professional services provider.

The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

TRANSCRIPT

John Ray: [00:00:02] Hello, I’m John Ray on The Price and Value Journey. Mariah Carey wrote All I Want for Christmas Is You when she was 24 years old. Released in 1994, this song quickly became a holiday standard. And by 2017, it had become the 11th best selling single of all time. According to The Economist, Carey made $60 Million in royalties on the song between 1994 and 2016, averaging 2.6 million per year.

John Ray: [00:00:40] Why did this song become so popular and remain so? Maybe one reason is how the word “you” is used. Two marketing professors recently conducted a study of what makes songs popular using natural language processing to study lyrics and the commonalities in successful songs. They analyzed some 2,000 songs and looked at the Billboard Charts. What they found was that songs which featured the objective use of the word “you” were more likely to be hits. The objective use of “you” is where you is the subject. One example is Whitney Houston’s mega-hit I Will Always Love You, a song written, by the way, by Dolly Parton.

John Ray: [00:01:26] There are important nuances to the findings, but what this study affirms is the idea that, as humans, we are hardwired to gravitate toward messaging that is about us. We like to hear others talk about us and our problems. We like to talk about ourselves. If we have an ounce of self-awareness, we know this about ourselves and others.

John Ray: [00:01:49] So, when it comes to professional services, clients and prospects glaze over when we talk about our process or certifications or any other language which is couched in us instead of them. Instead, if our focus is on the outcomes that clients receive from our work, clients lean in. When we talk about them, their problems, concerns, fears, and dreams, the hard wiring they have which craves attention lights up. When we talk about value, it’s not the value we deliver. It’s the value which clients feel they will receive.

John Ray: [00:02:28] Imagine if Mariah Carey had written a song entitled What I Want for Christmas, do you think it would have done as well? Make it about the client. When you make it about other people, it never goes wrong.

John Ray: [00:02:46] Hope you have a Merry Christmas, a Happy Hanukkah, or whatever holy days you’re celebrating. And everyone have a Happy New Year.

John Ray: [00:02:55] I’m John Ray on The Price and Value Journey. Past episodes of this series can be found at pricevaluejourney.com or on your favorite podcast app. And I’d love it if you would subscribe to the show, if you’re not already. And if you have, thank you for doing that. If you’d like to connect with me directly, you can email john@johnray.co, and I’ll reply. And also big news for 2023, I have a book coming out. So, if you’d want more information on that, please feel free to send me a note. Thank you very much. Thank you 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, 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 1,700 podcast episodes.

Coming in 2023:  A New Book!

John’s working on a book that will be released in 2023. The book covers topics like value and adopting a mindset of value, pricing your services more effectively, proposals, and essential elements of growing your business. For more information, contact John below.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: All I Want for Christmas is you, Billboard charts, Christmas, John Ray, Mariah Carey, Price and Value Journey, pricing, professional services, professional services providers, solopreneurs, value, value pricing

Value Is Like a Bank Account

December 19, 2022 by John Ray

Value is like a bank account
North Fulton Studio
Value Is Like a Bank Account
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Value is like a bank account

Value Is Like a Bank Account

Whether working with a client or engaging with a prospect, value is like a bank account. The value you deliver is a deposit, and you can take away value–make withdrawals–on the relationship as well.

The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

TRANSCRIPT

John Ray: [00:00:01] Hello. I’m John Ray on The Price and Value Journey. I read a post recently about relationships being like bank accounts. We can make deposits that enhance and deepen the relationship. Conversely, we can make withdrawals through actions which chip away or destroy a relationship. The account balance, if you will, varies over time based on our actions and those of the other person, too, of course.

John Ray: [00:00:34] Value is the same way, is it not? We have a value balance, you might say, with every client and prospect. As professional services providers, when we help a client better understand their business or lessen their anxiety about a coming change they might be dreading, we’re making deposits in the value account with that particular client. When we resist the urge to pitch a prospect and instead ask thoughtful questions and listen, we add to the value balance for that person.

John Ray: [00:01:12] On the other hand, we make withdrawals at those stages in a client relationship where when an inevitable mistake occurs, we don’t own up to our part of the goof up. We decrease the value balance with a prospect when we’re taking their business on when we know down deep that they aren’t a great fit.

John Ray: [00:01:34] No value balance stays static for long. It rises or falls based on the value we add or the value we take away. So, what part of client service or business development do you excel at when it comes to adding to the value balance? What parts need some work? The answers to these questions are vital to our businesses as they determine both ability to price and the length and tenure and the quality of our client relationships.

John Ray: [00:02:09] I’m John Ray on The Price and Value Journey. Past episodes of the series can be found at pricevaluejourney.com. And I would be honored if you would subscribe to this series on your favorite podcast app. If you’d like to be in touch with me directly, you can do so by emailing john@johnray.co. And, hey, big news for 2023, I have a book coming out. So, if you’d like to know more about that, feel free to send me a note. Thank you 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, 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 1,600 podcast episodes.

Coming in 2023:  A New Book!

John’s working on a book that will be released in 2023. The book covers topics like value and adopting a mindset of value, pricing your services more effectively, proposals, and essential elements of growing your business. For more information, contact John below.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: bank account, client, John Ray, Price and Value Journey, pricing, professional services, professional services providers, Relationship, solopreneurs, value, value pricing

“It’s Too Expensive”

December 16, 2022 by John Ray

"It's Too Expensive"
North Fulton Studio
"It's Too Expensive"
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"It's Too Expensive"

“It’s Too Expensive”

When a prospect tells you “it’s too expensive,” they’ve done you a favor:  they’re telling you that you haven’t had an effective value conversation.

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] Hello again. I’m John Ray on The Price and Value Journey. “It’s too expensive.” How do you react when a prospect says this?

John Ray: [00:00:11] All of us are human, and the normal reactions might be to give up, get angry, get defensive. And, of course, let that imposter syndrome rear its ugly head. Don’t give in to any of these impulses. Instead, you should mentally thank that prospect for their response. They’ve given you valuable feedback, which prospects don’t always do. Often they’re too polite to tell you that.

John Ray: [00:00:42] Further, though, and more important, if you get this reaction, it’s almost always your fault. Well, why is that? It’s because you haven’t had an adequate value conversation. A conversation which helps you determine what the client values, what they hold dear. Because you don’t understand the client’s perception of value, you’ve been in the dark as you prepared your proposal.

John Ray: [00:01:07] And here’s another reason why if a client says you’re too expensive it might be your fault. You’re only offering one option. You haven’t taken advantage of what many professional services providers are able to do. Offer three options, optimally, which are crafted to respond to the client perception of value as revealed in that great value conversation that you should have had.

John Ray: [00:01:32] Offering only one option creates a fill or kill situation, one in which you are more likely to get a too expensive response. Or just as bad, the prospect immediately accepts your proposal quietly thinking that they can’t believe you’re offering so much for the stated services at the low price that you’re offering. Effective value conversations invariably help you avoid the “too expensive” response.

John Ray: [00:02:06] I’m John Ray on The Price and Value Journey. Past episodes of this series can be found at pricevaluejourney.com or on your favorite podcast app. And if you’re not already a subscriber, I’d be honored if you would do that. You can also email me directly, john@johnray.co. And big news, I’ve got a book coming in 2023, and I would love to tell you more about that if you’d like to be in touch. Thank you.

 

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, 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 1,600 podcast episodes.

Coming in 2023:  A New Book!

John’s working on a book that will be released in 2023. The book covers topics like value and adopting a mindset of value, pricing your services more effectively, proposals, and essential elements of growing your business. For more information, contact John below.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: client perception, expensive, John Ray, Price and Value Journey, pricing, professional services, professional services providers, prospect, solopreneurs, value, value conversation, value pricing

Prospects Send Signals…Believe Them

December 14, 2022 by John Ray

Prospects Send Signals Believe Them
North Fulton Studio
Prospects Send Signals…Believe Them
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Prospects Send Signals...Believe Them

Prospects Send Signals…Believe Them

Pay attention: prospects send signals when they’re not a great fit for your business. Ignore these signals at your business peril.

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] Hello. I’m John Ray on the Price and Value Journey. Recently, I was chatting with an attorney friend of mine about clients, the signals that they send, and how they tell us who they are if we’ll just pay attention. It reminded me of a client I’d been referred to quite a few years ago now, early on in my journey. I was able to get an appointment with her, but that took an abnormal amount of time to do despite her acknowledgment that she desperately needed to get her house in order.

When I got there several minutes early, I had to wait quite a while for her. Once the meeting finally started, it took only about 10 minutes to realize that her practice was a complete mess. Her books looked like the work product you’d see if Charlie Brown’s friend, Pigpen, was the bookkeeper. Any talk about KPIs or how we could use the numbers to improve her business was meaningless. She seemed to thrive on all the chaos. Every few minutes we were interrupted by her assistant with questions which were not urgent, but which she insisted on taking and answering.

And as I sit there, letting the debris of all this situation wash over me, I fell victim to the thought this can’t be as bad as it looks. Yep, I did it. I waited in where I shouldn’t have. Just like the well-meaning person who thinks they’ll reform their spouse after they get married. I quoted her a retainer to get started, and she wrote me a check. On the way back to my office, I drove by my bank and deposited the check. And that’s when the fun really started.

The next day, I got an email from my bank that the check had bounced. Almost immediately after getting that email, as if the clouds parted with a sign from above, my phone pinged with a text message. “Can you believe that guy went and deposited my check already?”, the text said. And then after a minute or two later, another text followed, “Sorry, meant that for my husband. Lol.” Yeah. Lots of laughs. There wasn’t any reason to be upset with her actually. That bounced check was the apex of a host of signals I should have paid attention to, but I ignored them or explain them away.

The message was there, but I was too hardheaded, determined or blind, take your pick, to pay attention. Clients will tell you with their actions that they’re not a fit for you and your practice. Believe them.

I’m John Ray on the Price and Value Journey. Past episodes of the series can be found on your favorite podcast app where you can subscribe if you’re not already. And if you are, thank you. You can also go to pricevaluejourney.com. Feel free to email me John@johnray.co. And hey, big news. I’ve got a book coming out in 2023. If you’d like more details, just let me know. Thank you 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, 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 1,600 podcast episodes.

Coming in 2023:  A New Book!

John’s working on a book that will be released in 2023. The book covers topics like value and adopting a mindset of value, pricing your services more effectively, proposals, and essential elements of growing your business. For more information, connect with John below.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: good fit, John Ray, Price and Value Journey, pricing, professional services, professional services providers, prospects, signals, solopreneurs, value, value pricing

“I Can Do That” and the Mental Math of Outsourcing

December 8, 2022 by John Ray

“I Can Do That” and the Mental Math of Outsourcing
North Fulton Studio
“I Can Do That” and the Mental Math of Outsourcing
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“I Can Do That” and the Mental Math of Outsourcing“I Can Do That” and the Mental Math of Outsourcing

The mental math of outsourcing can work for you and your practice, or work against you if you say “I can do that” too many times.

The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

 

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, 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 1,600 podcast episodes.

Coming in 2023:  A New Book!

John’s working on a book which will be released in 2023. The book covers topics like value and adopting a mindset of value, pricing your services more effectively, proposals, and essential elements of growing your business. For more information, connect with John below.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: benefits of outsourcing, John Ray, outsourcing, Price and Value Journey, pricing, professional services, professional services providers, solopreneurs, value, value pricing

Razor Blades, Discounts, and Your Practice

November 29, 2022 by John Ray

Razor Blades, Discounts, and Your Practice
North Fulton Studio
Razor Blades, Discounts, and Your Practice
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Razor Blades, Discounts, and Your PracticeRazor Blades, Discounts, and Your Practice

Even a single human hair can chip a razor blade, and that first chip leads to much greater damage as the blade is used. This imagery is a superb metaphor for how pricing discounts in a professional services practice can dull the business.

The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

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, 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 1,600 podcast episodes.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: discounting, discounts, John Ray, Price and Value Journey, pricing, professional services, professional services providers, razor blades, solopreneurs, value, value pricing

Gratitude as a Business Strategy

November 22, 2022 by John Ray

Gratitude as a Business Strategy
North Fulton Studio
Gratitude as a Business Strategy
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Gratitude as a Business Strategy

Gratitude as a Business Strategy

The benefits of actively practiced gratitude for an individual’s health and well-being are widely documented. What would happen in your business if you decided to make gratitude an actively practiced piece of your business strategy?

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] Hello again. I’m John Ray on The Price and Value Journey. The science behind the beneficial effects of gratitude gets deeper and more compelling as more research is published and updated. Most of the studies which have been published on the effects of gratitude support an association between gratitude and an individual’s well-being.

John Ray: [00:00:25] The head of the Division of Biologic Psychology at Duke University Medical Center says that, if gratitude were a drug, “it would be the world’s best selling product with a health maintenance indication for every major organ system.” The benefits, it seems, span an individual’s physical, psychological, and social wellbeing.

John Ray: [00:00:49] According to Robert Emmons, a leading researcher in gratitude studies, people who practice gratitude consistently report benefits across the physical, psychological, and social spectrums.

John Ray: [00:01:04] Well, let’s expand that idea beyond us as individuals. What would your business look like if you made gratitude part of your everyday operating strategy? What would happen if the conscious practice of gratitude was as natural a part of your business as opening the doors every day, or checking email, or bouncing the cash drawer, or making payroll?

John Ray: [00:01:29] I’m not just talking about sending thank you notes to clients, although that’s probably a good baseline to start if you’re not doing that. But gratitude is more than just thank you notes or client gifts. I’m referring to cultivating an attitude of thankfulness, which is deep in your core as a business owner.

John Ray: [00:01:52] Maybe it’s writing a thank you note to someone who has helped you with a suggestion they’ve made, one which seemed insignificant to them at the time. It could be keeping a gratitude journal for your business, making notes about people and events which have made an impact on you and your business. Maybe it’s spending daily time and conscious reflection or meditation on something you’ve learned that day. Or maybe an event you attended from which you gained something that helped you in your business. It could involve stopping and pausing in a moment of thankfulness before you turn the key in the door to open up in the morning or before you turn on your computer.

John Ray: [00:02:37] Some time ago, I received a note from a business friend of mine who puts this principle into practice in quite a beautiful way. She writes, “This is a busy, busy time. I am exhausted, but we are very grateful. We have had long days and worked all week, including today, Sunday. I appreciate you so much. You were the first one that welcomed me, made me feel at home, and started helping me right away. And for that, I am forever grateful.” Wow, what a note to receive.

John Ray: [00:03:12] But most importantly, this business owner really gets it. This note wasn’t written to me to get my business. Although I’m a client of hers, I’m a tiny fraction of the sales of her business. This note was written from a deep sense of gratitude for life enjoyed, even the hectic, tiring life of a small business owner. Despite the exhaustion, the headaches, dealing with employees who flake out, and having days where everything seems to just go wrong, this individual is centered enough to express an attitude of joy and meaning.

John Ray: [00:03:54] I encourage you, and myself, as I speak these words – I’m more a student than a teacher, for sure – I encourage all of us to use this Thanksgiving season to reflect on adopting a practice of gratitude not only in our personal lives, but in the life of your business, as a strategy in your business. You might tap into a deeper vein of satisfaction with your business than you ever thought possible. Happy Thanksgiving.

John Ray: [00:04:27] I’m John Ray on The Price and Value Journey. Past episodes of this series can be found at pricevaluejourney.com. Or if you’d like to send me a note directly, feel free, my email is john@johnray.co. Thank you 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, 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 1,600 podcast episodes.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: business strategy, gratitude, ohn Ray, Price and Value Journey, pricing, professional services, professional services providers, solopreneurs, thankfulness, value, value pricing

Pricing and Self-Limiting Beliefs

October 31, 2022 by John Ray

Pricing and Self-Limiting Beliefs
North Fulton Studio
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Pricing and Self-Limiting Beliefs

One of the biggest problems solo and small firm professional services providers have with their pricing is self-limiting beliefs. What’s the solution? Value pricing.

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] Hello, I’m John Ray on The Price and Value Journey. In my work, I find that the problems low and small firm professional services providers have with their pricing often starts with the narratives that they carry around internally.

John Ray: [00:00:18] Pricing for services providers is a very personal thing. When the factory floor is essentially between the years, it gets personal. You’re not pricing a can of green beans. You’re pricing yourself whether you’re a web designer, an accountant, or a consultant. Pricing yourself by pricing the service you produce draws that more emotions than just what’s on the surface. Services providers can be affected by self-limiting beliefs that are a result of the narratives which have been poured into their head, sometimes all the way back to childhood.

John Ray: [00:00:56] Here’s one example, “I’m not good enough.” Maybe you heard that from a parent or a teacher or some other adult authority figure in your childhood, and it’s shouting at you today. Maybe you’re even hearing it today from a spouse or some other person in your life that you listen to more than you should. You’ve internalized that messaging and it feels like it’s deep in your bones, because it is.

John Ray: [00:01:25] Then, while you have enough confidence to go ahead and start your business, you do so with the notion that you need to discount to attract clients. You’ll be able to put up your prices later, you think, when you’re “established”. Well, that strategy doesn’t work out the way you thought it would, and the business stalls out. You end up attracting clients who aren’t the best fit and you don’t know what to do. Maybe it gets to the point where you start blaming yourself and reinforcing the negative self-talk that was there to begin with.

John Ray: [00:02:02] So, what’s the solution? Well, I think it starts with value pricing. Value pricing is setting your price to capture just a small piece of the value that clients recognize for themselves and are therefore willing to pay for. Understand that value pricing has nothing to do with what you believe your service is worth. It’s not about you or what you consciously or subconsciously think. It’s about the client and their perception of the value of the outcomes you deliver.

John Ray: [00:02:34] One way to think about value pricing is that it allows you to evade and cancel out whatever self-talk hold you back. Shifting instead toward a client-based perspective on the worth of your services. That shift takes you from what you do to what the client needs, hopes, dreams about for themselves in their business and their family.

John Ray: [00:03:01] And then, if you and that client work together and bring about that lasting change, what’s the value of that transformation? When you price to receive just a small piece of that perceived value the client has visualized and agreed to, then you’ll invariably end up with better pricing for your service’s business. And your confidence changes because you’ve shifted toward allowing clients to determine your value instead of the voices in your head.

John Ray: [00:03:33] I’m John Ray on The Price and Value Journey. Past episodes of this series can be found at pricevaluejourney.com. And I’d be honored if you’d subscribe to the show, you can find it on all the major podcast platforms. You can also email me, john@johnray.co. Thank you 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, 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 1,600 podcast episodes.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: John Ray, overcoming self-limiting beliefs, Price and Value Journey, pricing, professional services, professional services providers, self-limiting beliefs, solopreneurs, value, value pricing

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