Tuesday, March 2, 2021

In my advisory work, I like to discuss the business owners mindset. A common unproductive mindset is “If I increase my prices I'll lose clients"
Our washer-dryer died forcing us to the local laundromat. There was sign posted: COVID-19 has increased our costs but our increase to you is only 5%. The price of a wash went from $7:50 to $10 and a dry from 10 quarters for 30 minutes to 10 quarters for 20 minutes –that's a 33.3% increase. No-one blinked! Why? Well, I don't think anyone did the math, but more important where else were we going to do our laundry?
There are several important mindset lessons in this story that apply to every business. I'm looking for a select few business owners who want to work with me to help them change to a growth mindset so they can grow their business, improve their profits , impact their processes, and increase the value of the business. Call Theresa Morley if you are wanting to grow your business.

Posted at 04:37 PM