Osmaan Sharif is a business and mindset coach who works with ex-corporate professionals to help them overcome obstacles and grow their own business. Osmaan talks to The Pricing Queen about his rapid transformation formula which involves focussing on the big picture of your business by understanding three fundamental foundations:
Design (includes business model, vision and goals.)
Mindset (overcoming your internal beliefs and understanding your value)
Strategy (or, as Osmaan refers to it, your entrepreneurial superpower.)
Take Osmaan’s free quiz so you can see how strong these foundations are in your business in less than 2 minutes. Sally and Osmaan discuss understanding your upper limit to overcome imposter syndrome and what you need to consider when looking at setting and increasing your prices. Also, why you should be wary of competitive...
Sally explains how creating packages for your services can make a big difference to your business. Using pricing packages ensures you know what to charge every single time, removes difficult conservations around prices, reduces discount requests and makes the charging process simple and easy. Sally suggests listing costs on your website to help reduce timewasters, making it a clear and simple decision for your customer. Consider offering pricing tiers to ensure you have something for every budget. This helps keep customers interested and encourages them to keep working with you. Want help creating your pricing packages? Check out Sally’s packages masterclass.
Sally is an accountant with 25 years of corporate experience working for organisations such as Channel 4, Guinness World Records and Philips electronics. But she is a far cry from your typical boring bean-counter! A lover of high heels, diet coke, chick lit and dark chocolate she also has a fantastic track record for helping companies get a head around their numbers.
Over the past five years she has focussed on helping small businesses with their pricing strategies, customer journey and product offering to improve profits and business growth.
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In November 2020, I attended Janet Murray's annual event 2021 Sorted. Colin Gray talked all about how to start a podcast and it really appealed to me. With some pushing from Janet, I agreed to start a podcast.
Today (17th March) marks the launch of my new podcast "The Pricing Queen". I have 11 episodes all ready to go and I'm so excited to be out there with it.
For me, a podcast is perfect. I don't have to put on any makeup, I can chat away (I love a chat!) and I can choose when I do it. It can also be quite casual in style, as I don't have to be too corporate about it.
I have also loved having loads of guests for my first season. I've chatted to Osmaan Sharif (mindset), Janet Murray (online courses and memberships), Amy Mitchell (systems and productivity), Amy Caiger (niching) and Rob & Kennedy (email marketing).
It's a great way to show your authority in your chosen niche, and also to invite people you admire so you can chat to them. It should also open out my audience (I...
Learn how pricing by the hour punishes efficiency and ties you to time for money. Sally’s pricing personality quiz will show if you’re running a business or a hobby; are you an Underpricing Una, an Overpricing Orla, a Discounting Donna or a Generous Gina? Learn how to do a reality check on your business and discover an easy start to pricing strategies with her pricing calculator. How do you talk about your business to clients? Sally asks you to consider the language you use and the transformation that you are offering.
Take Sally’s pricing personality quiz
Sally’s pricing calculator
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What even is a CFO? A CFO is a Chief Financial Officer or Finance Director (FD).
Every big business has a finance director or CFO and they are needed to keep the financial affairs of the business in line and to provide valuable financial management information to the business. They are your trusted adviser and translator of the numbers!
In small businesses you don’t need a full-time FD/CFO but you do still want to know what your numbers look like on a monthly basis and have someone checking on a regular basis. People often think that they can’t afford to have finance support in a business. This is very different from a year end accountant where they are producing the statutory returns for your business. They are not there to analyse your business and understand your business in detail but merely to submit the tax and legal requirements.
If you just have a year end accountant, this can mean that you only look at your accounts once a...
Everyone's selling an online course or membership these days aren't they? They are the best way to make "passive" income in your business, right?
I think it is something to think about, but it's not for everyone. There are a few things to consider first.
Is it right for you?
Do you want to run your business online? Or are you likely to run your business in person (once we can)? Do you want passive income in your business?
We all think a course or membership will boost our income, but it's generally not a short term fix. If you do most of your business via referral or word of mouth, you likely don't have a big email list to sell to, which will take time to build.
Do you enjoy creating content or do you find it a chore? Some people would rather do 1:1 coaching and not have the hassle of creating something and having the tech to go with it. Although it can be low tech to sell a course (you just need a PayPal button), over time you might need to have a website for them to go to.
Following an email last week on this topic, I decide to expand on when you should work for free.
Generally, I don't agree with working for free. When someone asks to pick your brains, or grab a coffee, you are giving away your time and expertise for free and you should be looking to offer a power hour for this. If you need help with this, my Creating and Pricing your Power Hour masterclass may help.
Be careful of expressions like "it will be good exposure for you" or "it will raise your profile".
Is this something my paying clients would expect to pay for?
Is it part of my core offering that I would give away for free?
Is this audience one I can't get in front of normally?
Does this actually raise my profile and have me down as an expert?
Is this going to be a lot of work and no reward?
I've done this quite a lot over the last 6 months and have done podcast interviews and have been in Janet Murray's membership a lot. It has gained me new clients and it has...
2021 has started off being a tough year. We thought we'd left behind some of the woes of 2020, but unfortunately, that's not the case. And lots of small businesses are struggling.
If you are struggling with managing homeschooling, your business and all the other demands at home, you are not alone. The uncertainty can make it very difficult to plan anything and balancing your energy can be really important.
Also, if you are just working all the time (maybe you don't have kids but are stuck on your own at home), there is a temptation to just work all the time, and never have a break.
Look at what brings in the most money with the most ease in your business. If you offer a 1:1 service, could you do more, rather than sell something like a course, which won't get you much, but a 1:1 would net you more.
Do short term things if you need the money right now. Go out to your "hot" leads - these are mostly existing or previous clients or ex-colleagues. Ask them if they know anyone who needs...
As my business turns 3 on 13th February, I've been reflecting on things I wish I'd known or done when I started out.
1) Outsource as early as you can
I waited for ages to get my amazing assistant Louise, and my web designer Lisa, but they have transformed my business. Don't wait until you are collapsing under work to outsource. Get someone to start small and grow with you as your business grows.
There is a saying that you should get someone when you can afford 50% of their fees. I think it's a good rule of thumb to get you started.
If you find it hard to delegate, just do a few hours or tasks to start with. I find I can't outsource email easily but have no problem with social media posting.
2) Don't be afraid to experiment
I've tried all sorts of things in my business. I started as a freelancer exchanging time for money (as most people do). Then I discovered online courses and email marketing, and I have experimented with various offers, some more successful than others.