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ICP 285 The No B.S. Way To Creating A Small Business That Matters in 2020 with Neil Foley of the Business Growth Club

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In this episode you’ll learn:

  • How to address the challenges for new small and micro-businesses
  • How to think about pricing and the benefits of pricing high
  • How discounting can hurt you
Neil Foley profile picture smiling wearing glasses

Starting a small business can be both tough and exhilarating.

Being technically gifted as a master craftsman/woman of your trade is a good place to start.

Yet knowing how and when to start is better…

And it pays to get help.

In this episode, you’ll hear why it’s a good idea to get feedback early on.

And how the right kind of mindset can impact your success when starting out.

I introduce you to one of my closest business mentors, Neil Foley.

Neil shares his best advice with you, from his many years experience, as an advisor, coach and owner, to many businesses.

Answering frequently asked questions often asked by aspiring business owners and revealing why pricing is often about confidence and how offering discounts can hurt both you and your business.

(And why you shouldn’t worry about the competition…)

This interview was recorded live at JMS Studios in Hethersett, Norfolk, England.

Items mentioned in this episode (quick access):

[00:41] Introducing Neil Foley of the Business Growth Club.

[02:12] About the Business Growth Club.

[03:25] Neil talks about his own podcast.

[04:22] How having a podcast has helped Neil’s business.

[05:48] Why monetise a podcast?

[06:25] Video vs. podcast conversations.

[07:52] Podcasting on different themes.

[08:30] An example of poor podcast marketing.

[11:05] The book The Ask You Answer.

[12:35] Becoming the ‘go to’ person.

[14:26] Transparency on price.

[17:00] Complexities with pricing.

[18:40] How discounting can hurt you.

[19:23] Not having time. Putting prices up.

[20:35] Running the Business Growth Club as a social enterprise.

[21:28] Worrying about the competition.

[25:40] Seth Godin – being a big fish in a small pond.

[27:27] Having a (business) exit in mind. Creating a legacy.

[28:31] The buying choices of younger generations.

[31:54] How to test out your business ideas early on.

[36:48] The 19 workbooks on businessgrowthclub.net.

[38:52] Podcasts about local business people who have a story to tell.

[39:55] Neil shares what’s inspired him in the last week.

[41:25] What Neil is grateful for today.

[42:04] What’s next for Neil…

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