EPISODE 8: HOW TO SOLIDIFY YOUR SIGNATURE OFFER AND EFFECTIVELY PRICE YOUR SERVICES WITH LATESHA LYNCH
Live Date: July 12, 2021
Show Description: On today's episode, Heather talks with fellow female entrepreneur and business owner Latesha Lynch. Latesha is a creative designer and coach who founded Atelier Latesha and The Business Branding Academy. Heather and Latesha connect about being both mothers and entrepreneurs, while exploring the biggest mistake new business owners make, the importance of determining your signature offer, how to effectively price your services and strategically invest your money in the right people.
This Episode Will Teach You:
Why women want to create their own company
The biggest mistakes female entrepreneurs make
The importance of brand authority in small businesses
Knowing how to invest in getting help the right way
Highlighting your brand reputation to increase revenue
Knowing your value
Determining your signature offer, how many services to sell and what to charge
Biggest Takeaways:
Heather and Latesha discuss one of the biggest mistakes entrepreneurs face when first starting out. Small business owners price their product or service based on what they think people can afford instead of what it is worth. It is important to trust the value of your service so it aligns with your price point. The better your brand reputation, the higher the price point needs to be.
Heather and Latesha talk about finding their signature offer and focusing on what makes them unique to their clients. Latesha stressed the importance of not offering too many options but instead focusing on a signature offer, the thing that makes your business stand out and brings you the most profit. BE UNIQUE. People will shop around if your service is not unique. Having too much to offer leads to burnout and wasted resources. Financial stability at the beginning will allow you to expand your business in a sustainable way in the future.
Latesha talks about the importance of getting help right away. Take yourself out of as many processes as possible and create a system to execute your goals effectively. Working with more people and spending less time doing it leads to more profit. Trust that others have the expertise to help you and find a way to make what you're doing as efficient and automated as possible. Strategically investing your money in the right people will make you more successful in the long run.
About the Guest:
Latesha Lynch is a 14-year marketing veteran, entrepreneur, creative director, and lead coach of Atelier Latesha & The Business Branding Academy. Her core mission is to help female entrepreneurs build and leverage their brand authority so they can confidently sell their services at a premium price point. Latesha is a lover of everything family, travel, and design. Her authentic approach and unique intuition guide her designs and coaching style as she helps her clients genuinely connect with their dream clients for maximum attraction.
Quotables:
“The same thing I hear from female entrepreneurs over and over again is that they went and created what they wanted for their life in the company that they built.” Heather Adams, 10:19
“The biggest mistake that I see specifically with female entrepreneurs is pricing based on what we think people can afford instead of what the value is for what you are doing and how much money you need to survive to actually be profitable.” Latesha Lynch, 12:48
“The more options you have the more confused people are and confused people don't buy.” Latesha Lynch, 17:10
“If you look at all those things there is gonna be something that stands out, something that was your best offer and made you the most money, that you got some great results for your clients, that's gonna be your signature offer.” Latesha Lynch, 17:50
“Figuring out what you are actually best at doing, that is going to make the biggest impact, the higher the price point the bigger the impact needs to have on the person you are working with.” Latesha Lynch, 25:10
“Instead of exchanging all your time for money you need to find a way to make what you're doing as efficient and automated as possible. Take yourself out of as many of the processes so it runs really well.” Latesha Lynch, 23:58
“Your approach has to be unique.” Latesha Lynch, 28:52
“We don’t shop around for investments, we make the right investments but people will shop around for someone who's offering something that seems like a commodity that they can’t get anywhere else.” Latesha Lynch, 29:32
“Think about what you are best at.” Heather Adams, 29:45
“Intentional spending is key.” Heather Adams, 31:49
“People are judging the book by its cover so the better your brand looks and sounds and the better your brand reputation, the higher the price point needs to be, because they are coming to it with that expectation.” Latesha Lynch, 36:03
“The money that you do have, invest it really well to get you where you need to be faster and you will have a much more successful business faster.” Latesha Lynch, 39:31 reflection of me.” Veronica Romney, 42:10
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