1 • 981 Ratings
🗓️ 17 June 2023
⏱️ 11 minutes
🧾️ Download transcript
Welcome to the Business Buffet Podcast, where today we follow Jerry, a suburban landscaper, as he navigates economic turbulence due to relentless inflation. Through incremental price increases, improved value proposition, clear communication, bundled services, premium offerings, a loyalty program, and strategic timing, Jerry not only maintains but strengthens his customer relationships. His journey is a testament to how empathy and the right strategy can transform price hikes from a destructive process into a path of growth and deepened connections.
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0:00.0 | Welcome to Business Buffet. Thank you for sharing your time with us today and these episodes with your friends and family. |
0:09.0 | On Business Buffet, we bring you a smorgasbord of business knowledge and entrepreneurial spirit you can use to help season your business. |
0:19.0 | Pull up a seat, grab a plate, and get ready to eat hearty in business. |
0:24.5 | Welcome to the business buffet. |
0:26.6 | Thank you for tuning in and sharing these episodes. |
0:30.4 | In today's episode, we follow Jerry, a suburban landscaper as he navigates economic turbulence due to relentless inflation. |
0:41.4 | Through incremental price increases, improved value proposition, clear communication, |
0:47.4 | bundled services, premium offerings, a loyalty program, and strategic timing, |
0:53.8 | Jerry not only maintains, but strengthens his customer |
0:57.5 | relationships. His journey is a testament to how empathy and the right strategy can transform |
1:04.2 | price hikes from a destructive process into a path of growth and deepening connections. Looking for inspirational help in your business, |
1:14.6 | pick up a copy of Entrepreneur's Feast, navigating small business challenges with the business buffet. |
1:21.0 | Available for sale on Amazon.com, click the link in the show notes to pick up your copy today. |
1:28.8 | Inflation can significantly impact small businesses, affecting various aspects such as cost, |
1:36.5 | pricing, supply chain, and overall profitability. |
1:40.5 | In this multi-part podcast series, we cover five strategies small business owners can employ to handle inflation. |
1:49.9 | In today's episode, we tackle increased prices gradually. |
1:55.2 | One of the first instincts may be to increase prices to cover higher costs. |
2:00.7 | This should be done carefully, however, |
2:02.9 | and gradually to avoid alienating customers. Communicate these changes clearly, explaining why |
2:10.4 | they're necessary, and highlight the value your product or service provides. We summarize the steps for the process after the show, but let's get to our story. |
2:23.2 | Growing Green, Jerry's journey through economic turbulence. |
... |
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