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In Part II of this engaging conversation with Susan Trivers, the growth guru details her proven perspectives on unlocking the full potential of an organization as well as the role of leadership in balancing personal and professional goals. Getting her clients to understand their own value is only part of the puzzle…her most successful students learn to maximize the value of every resource at their disposal, and so this episode continues to explore her expertise.
[0:54] Do You Value Your Value?
A value-driven pricing structure is key to the sustained growth of a business. When considering the consumer cost of a product or service, everything from labor and material costs to speed of delivery and development time should be accounted for in the total price, as in the end any company is in the business of selling solutions. Outcome, not input, is the central factor to consider when determining a pricing structure that works for you…how does what your company offers affect the results your clients can expect when compared with the available alternatives?
[4:51] The GO Curve
Susan Trivers’ GO Curve is one of her signature visual tools for helping companies turn client data into actionable information. Her breakdown of the instructive graphic separates buyers into three main categories: testers, regulars, and enthusiastic fans. These categories of client all have different levels of engagement with your brand. Optimally, a company can move “testers” into “regulars” and translate their regular clientele into dedicated support, and so a key to growth lies in offering products and services that appeal to each of them.
[9:12] Building a Machine
Adding to your arsenal is indispensable to expanding your reach and scope. For example, developing a new product or service is an investment in and of itself. You need people dedicated to not only giving the concept a concrete shape, but devising a comprehensive plan for presenting it to the people most likely to buy it. Nationally, hiring this additional personnel requires cash, and organizations can both bolster their ability to compete and lower their taxable earnings by investing in development of a new product or service.
[13:48] The Long Game
While minimizing tax liability for your company through consistent R&D and drawing a comfortable salary for retirement are both equally valid goals, they can often work at cross purposes. It is important for your organization’s financial advisor to understand what your goals are. Trivers advises a yearly consultation with your CPA or CFO to review your current strategy and decide whether to aim for rapid growth or reliable returns.Through savvy resource management, companies can break through the plateau and consistently achieve new heights.
About Susan Trivers, President, Trivers Consulting Group
Susan Trivers has been providing strategic business consulting to low mid-market and small services companies since 1999. Trivers Consulting Group has helped 500 client companies to increase profitable revenue by more than 2 billion dollars. When asked what her one piece of advice to business owners is, she immediately says: “Accumulate more cash.” Cash enables the company to achieve its biggest goals and helps the owner grow their personal wealth. Susan offers a wealth of insightful strategic and tactical information on her website.
“Helping business owners have wealth and a life, not just a job.” -Susan Trivers
Connect with Susan
Website: http://susantrivers.com/
Trivers Consulting Group Phone: 703-801-0345
About: https://www.susantrivers.com/about-susan/meet-susan/
Book: Author of Tinker: How Smart Business Owners Develop Creative Ideas for True Growth. Available on Amazon