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Profit Finding: You don't need to discount to grow your business

Why do you feel you need to offer a discount?

Discounting can be a very dangerous game for businesses.  Constantly chipping away at profit margins to close a sale or increase revenues.  While discounting has a place in all business models, it must by used with a complete understanding of the strategy and impact within the business.

In this podcast episode, we explore using discounting to grow your business and how we avoid using it at the wrong times.

We explore:

Understanding and articulating your value 

Welcoming and inviting price objections

Evaluating value in the eyes of IDEAL clients/customers

Strategic discounting to increase profitability 

Being prepared for objections to close more sales

We hope you enjoy the episode.

Have a business problem you want the team to discuss, post it or send a DM https://www.facebook.com/philotimoglobal/

 

The Louddays: Content Vs context, increasing your dwell time & there's a hole in your bucket

In a Tim-less episode Mat And Elana from the Louddays team sit down with Nigel as we build toward the launch of both the Philotimo social media push and the content hub. 

We deep dive into the best ways to produce quality content and then just as importantly how to make it easily accessible and searchable to ensure everyone can find the right information at the right time.

We discuss the difference between content and context.

Nigel learns about the importance of "Dwell time" and ensuring you have the right structure to place your content.

 

Enjoy!

Partnership: Should I give away equity?

Partnerships can take many forms. Is your business ready for an investment partner?

In this episode, Tim & Elana discuss some of their experiences including:

•  Some considerations before bringing on investment
•  Your responsibility and commitment to investors 
•  Knowing the answer to "Why do I need money?"
•  Creating expectations with partners through contracts
•  Why SME's commonly overvalue their companies
•  Knowing that people don't change just because the become a partner
•  Not sacrificing equity for a skill you can pay for 

Enjoy

The Louddays: Can you start from scratch today and go from Zero to One Million followers?

This is a business-killing experiment.

Louddays agency has agreed to take on a client (Philotimo Global) with a starting point of Zero social media presence and no database! The goal, build a community of 1 million people!

Follow the weekly catch up between client and agency, hear what's happing behind the scenes and will it actually work?

Elana, Mat and the team from Louddays are incredible, learn how a leading agency approaches a world-first complete and transparent challenge.

All the while documenting the process on this weekly podcast, sharing the journey, the challenges and trade secrets as they help grow Philotimo Global's Digital presence from nothing to an online powerhouse.

Make sure you tune in each week to see the progress. This will either be a game-changing insight or a wonderful lesson in mistakes made..... either way, it will be entertaining.

This is Day 1.

Leadership: Are you selling your future?

As business leaders, we all have a finite amount of time and energy. As such we need to zealously protect it from those who would steal it from us even if that someone is you.

In this episode, Tim asks the question "are you selling your energy too cheaply?".

We also talk about learning to appreciate your internal protection system and the importance of putting hard action behind your inspiration.

Enjoy!

 

Weekly Review: Burning Cash, Leadership Roles & Crafty Double Pronged Event Strategy

Have you ever wondered what it takes to grow a multi million dollar business from the ground up?

This weekly podcast hosted by Philotimo Global founder Tim Krotiris follows the journey of a fast growing company and insights from behind the scenes of a company growing on multiple fronts.

Joined by COO Elana Harari and Head of Media Nigel Walton, the Team discusses all things growth and performance. 

This Week: 

The team discusses the investment and costs of building its new media department.  What is driving decisions to keep investing and what is the key data that will determine whether it is a good investment or a complete waste of time and money. 

 

Enjoy

Profit Finding: She works hard for no money.

Really great question from our community this week.

Elizabeth has been working her backside off for many years.  The business is growing but no matter what she does, she never has any more money and doesn't know why. Will she ever see a difference?

In this cast-

- Is it important to pay yourself a wage?

- Understanding that growing businesses eat cash

- Do you accept that you are the investor of your business? 

- Building an asset that outearns your lost wages 

- Setting a stop loss to know when to give up

- Setting milestones for returns

 Enjoy

The Louddays: Are you content with your content?

As the experiment continues, The team at Philotimo and Loud Days (https://www.louddays.com/) discuss how content will play a part of the digital strategy.

What is the relationship between the core business and digital capture points?

How do we value content in relation to its shareability and accessibility?

The team also has to overcome the challenge of developing the CEO's personal brand vs that of the Philotimo company.

For business owners, a glimpse into the science of social media and leveraging it for your business and an insight into how to work with your digital agency and build your empire.   

Partnership: What are you bringing to your partnership?

Are you a good business partner? Are you sure?

Partnerships take many forms, whether it be with a family member, friend or acquaintance.  They can be hugely beneficial when starting or growing a business but when damaged, a once-great dynamic can be highly volatile and potentially destroy a company from within.

In this episode Tim, Elana and Nigel delve into their personal experiences of the good and the bad of entering their partnership. They discuss the elements that have made their partnerships successful and some of the key factors in navigating such a tricky area of business.

Enjoy

Leadership: Should I tear my house down?

Would you be willing to completely re-build yourself today? 

Are you building an empire or deep down know that you are a dabbler?

As leaders, we are constantly looking to evolve..... What about if we decided to start again? 

An interesting discussion about where we are at as leaders and enjoying either the evolution or strategic destruction of who we are in order to get to where we want to be.

Enjoy.