Tips & Talk 69 – Are You in Control of Your Business?

Woman thinking about this questionAre you in control of your business? The answer to this, as the owner of your business, is always yes. You are the one at the top, making decisions that affect your outcomes. You are also the one in control if you decide to relinquish control. And this is something I really want you to get.

Yes, you’re going to do things that don’t work out. Being in control doesn’t mean you’re always right. But it does mean you take responsibility for all of it. The good, the bad and what action you take moving forward. You are always the one in control of your business. We’ll get into details of what maybe should change for you and I’ll give you examples in the show today too. Acknowledging this can be a game-changer!

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Transcript
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Hi there.

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It's Sue.

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And thanks for joining me for tips and talk day.

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These are bite-sized topics that I pull from community questions and

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things that I'm observing in the world of handmade small business.

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If you'd like to submit a topic,

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DME over on Instagram at gift biz unwrapped,

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before we get into the show today,

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I want to make sure that you know about the newest

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thing happening over here.

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It's called the gift biz bash a zoom party that turns

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into a podcast episode.

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Several weeks later,

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the party consists of a short training with Q and a

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from yours truly.

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And then an opportunity for you to give a shout out

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about your business.

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You can tell us about a promotion you currently have going

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on or share a collaboration that you're considering so that you

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can find a perfect partner for the event.

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A little bit of learning and visibility for your business.

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What could be better?

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There is a catch though spots are limited to keep the

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party to about 45 minutes or so.

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That means you should grab your spot right away.

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It's totally free to make sure you're included.

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Why not do that right now?

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Pause this episode,

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go to gift biz,

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unwrapped.com forward slash bash to sign up and then come back

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and listen to the show.

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I'll see you at the bash.

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Are you in control of your business?

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We're going to get into this so you understand what I'm

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talking about in a minute,

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but I want to start the topic in a very special

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way. Did you listen to my tips and talk episode number

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64. It's where I talk about craft show tips.

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You've never heard before.

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One of my comments is about your response.

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When people say your prices are too high and the response

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is I understand my products.

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Aren't for everyone.

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This statement about your higher pricing is a common irritant.

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I know it hits you like a stab in the side

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and feels very personal.

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Now, some customers will say this regardless of your price,

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just to see if they can bargain you down.

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When you recognize these folks,

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you can play the game with them.

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It's all in fun,

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but don't concede to lowering your prices through pressure.

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It's the constant complainer's or those whose tone is really insulting.

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Where this response I stated,

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make sense.

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You want to shut the conversation down and move on to

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those where your time is productive.

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After the episode aired,

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I got an email from Robert Sheckler who makes handmade brooms.

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You can check out his Instagram account at Redmon Filbert.

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He offered very productive ad on this situation.

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Perfect. For the times when you get this comment about high

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prices, but see some potential with the person voicing the concern.

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Let me read to you his words specifically.

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Robert says,

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I think the first part of the advice highlighting the value

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inherent in handmade products is great.

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And I might further underscore that by talking about the time

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it takes to make the products,

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which is something many customers don't understand.

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And then he goes on to say,

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most importantly,

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I would want to end with an open-ended question to keep

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the conversation going.

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I might ask where the customer has seen lower prices,

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potentially allowing me to make a direct comparison between my handmade

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products and what's available at target.

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Or I might ask how the customer planned to use my

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product, potentially allowing me to talk more about its benefit or

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to do some storytelling,

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or I might just give them a card and suggest they

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contact me.

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If they can't stop thinking about the product that they keep

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coming back to.

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I love this last one.

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It adds humor and lightness,

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which keeps the conversation friendly and will probably ease your frustration

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that you need to have this discussion at all.

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Remember your behavior.

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And the tone you bring is very important in regard to

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working through the topic of price,

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showing confidence,

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responding in an open and friendly way and letting the final

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result be what it will be,

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will benefit both you and your customer.

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Thank you,

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Robert, for this input,

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I'm anticipating with the economy as it is right now.

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We'll see this question come up more and more having ready-made

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responses in your pocket allows you to choose which one fits

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the situation best.

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And you're not left scrambling for a response.

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All this leads into the topic of control.

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And my question,

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are you in control of your business?

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The answer to this as the owner of your business is

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always, yes,

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you are the one at the top making decisions that affect

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your outcomes.

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You're also the one in control.

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If you decide to relinquish control,

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let me say that again.

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You are also the one in control.

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If you decide to relinquish control,

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and this is something I really want you to get when

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inflation is high and people are tighter with their money,

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you may have the tendency to use that as an excuse

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for low sales.

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When you do,

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you've passed your power off with an excuse that you have

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no control over.

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How about looking at the situation to see what you can

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adjust in your business to fit the current economic situation that

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could be adjusting product sizes,

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to make the retail price more palatable or investigating sourcing options,

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to get your cost of goods down so you can adjust

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your price accordingly and still make money.

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What it is not is dropping your price to try and

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get the sale at any cost.

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Then you're dipping into your margins and weakening your business.

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Overall, I'm picturing right now,

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an old log cabin where all the wood has rotted out.

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It's still standing,

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but it could fall at any minute.

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Another example where you could possibly hand over control is if

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you say Facebook ads just don't work.

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Hmm. Is it that they really don't work?

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Or is it that yours?

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Aren't working,

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keeping ownership of the decision to run ads and test options

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that lead to positive results is an example of staying in

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control. So is deciding that you don't want to mess around

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with them and focusing on other sales generating activities instead,

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but complaining about Facebook ads and doing nothing,

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relinquishes your control.

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One more example,

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nobody is buying your newest line of jewelry.

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You say to yourself,

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they just don't get how cool this is that I use

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material that is so unique.

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And it's the up and coming trend.

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Are you blaming your customer for your results?

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Ooh, potential truth bomb here.

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Perhaps you could have prepped them better to understand what new

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fashions are coming down the pike,

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showing celebrities sporting the new style or referencing an article in

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a fashion guide,

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talking about the trend or consider if it's even a fit

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for the customers that you attract.

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If your current styles are classic and traditional,

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does this even fit for your brand and will it be

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received well with your existing customer base?

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Did you ask them to confirm their interest?

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It's not their fault.

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If they're not interested.

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Yes. You're going to do things that don't work.

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I do it all the time.

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Testing new ideas,

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making a move that doesn't result in the response that I

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knew for sure it would being in control.

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Doesn't mean you're always right,

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but it means you take responsibility for all of it.

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The good,

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the bad,

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and what action you take.

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Moving forward.

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You are always the one in control of your business.

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Even if you relinquish it,

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acknowledging this can be a game changer.

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That's a wrap.

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I'm a get to the point kind of girl.

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And this is what you can expect from these quick midweek

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sessions. Now it's your turn.

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Go out and fulfill that dream of yours.

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Share your handmade products with us.

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