Three Things Every Business Owner MUST Do To Thrive in the Recession

Transcript

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[00:00:00] Leyla: Survey says there is a 70% chance of a recession in 2023. Economists portend a stagnating economy following a series of Federal Reserve interest rate hikes and other factors, but we can brace ourselves to weather this storm. Joining us with tips on how to do that is Brian Miller, founder and consultant of Clarity Up.

Great to have you.

[00:00:23] Brian: Hey, thanks so much for having me, Leila. It's such a pleasure to be here again.

[00:00:26] Leyla: Well, you know, you've got some wonderful tips. Three things that every business owner must do to thrive in the recession. And I know business owners, they face just insurmountable challenges sometimes win face with recession because they've got people to look after, they've got property to look after, and so many other factors.

So, so where does all, all begin?

[00:00:46] Brian: Yeah. Well, this all begins by asking the. Question essentially. So I think most of the time we ask the wrong question. We ask things like, how do I survive the recession? It's the wrong question because it focuses us on the negative, the recession, where we can ask a better question, which is, how can I make meaningful connections with my ideal audience?

And that, you know, we get the answers to the questions we ask, and so that question's gonna help steer us in the right direct, okay, in the right direction.

[00:01:13] Leyla: And you say that there's a thing called psychographics. What?

[00:01:17] Brian: Yeah. So the first tip I have today is discover your ideal audience. Now, most small business owners are trained to think in demographics: age, gender, location, household income.

These things used to work, but that's not how customers buy today. Today customers want to buy from brands that they feel connected with. And we just like human to human, we connect with people over values and beliefs. That's what psychographics are. What is your ideal audience or your customer, your client, what do they believe?

What do they fear? Most importantly, what do they want? And when I say what do they want? I mean, what do they know they want? Hmm. Probably the biggest mistake I see small business owners make in their marketing, their sales, their communication is they're focused on trying to sell what they think their customer.

But their customer doesn't know they need that thing. You have to actually talk about what your customer knows they want. Those are psychographics.

[00:02:14] Leyla: Oh, very good. All right. You also say identify the core problem. There's a solution to every prob problem, but you gotta know and identify what it is first.

[00:02:24] Brian: That's right. You know, people don't find brands by the solution. We find brands by the problem that they solve because we are experiencing a problem. We only go to buy something when we notice we have a problem. So, you know, when your toilet springs a leak, you don't. Think, let me find a company that has a particular spacely sprocket, you know, toilet part that I like.

That's a solution. What I think is I need to find a plumber. Why? Cuz plumber solves the problem of leaking toilet. After I'm talking to a plumber, then I'm interested in their solution. So you have to identify the core problem that you solve as a business. Can you state a single problem that most of your customers would immediately?

Yes, that's my problem.

[00:03:13] Leyla: Okay. And then you also have to be a good communicator and marketing communication is everything.

[00:03:20] Brian: It is it, communication is everything. And, and really, I take it a step back. You know, my, what my company does is what we call core messaging. It's, it's what I say, do this first. We need to establish the core message of your business.

So imagine if somebody asked you, what do you do? I gotta tell you, most business owners. Cannot answer that question and most people can't answer that question. You're at a cocktail party, someone, you meet someone, they say, what do you do? Don't, don't you just panic a little bit. People do one of two things.

They either say their title like I'm an accountant, and the person looks at you like, that's cool. Yeah. do you that. They don't know what to say cuz they don't know what it's like to be an accountant. Right. They say, what do you do? And you ramble on and on and on and on and on for 20 minutes until the person you're talking to is like, is there where?

Oh, I see my friend guacamole. There he is. I gotta go . And so instead, wouldn't it be amazing if you could actually explain what you do, who it's for and why it matters in just one sentence, also known as the elevator pitch. . Yes. So I'm so glad you brought that up. The elevator pitch is what I'm talking about, except a much, much, much shorter version.

Imagine a 32nd elevator ride. Can you imagine if a stranger talked to you for that entire 30 seconds about their business? Right? That's way too long. Elevator pitches are old school. We need a core message. We need one sentence.

[00:04:42] Leyla: And speaking of seconds, we only have a few of them left. So what is the, the algorithm for that message?

What have you devised?

[00:04:50] Brian: Here it is. I help AUDIENCE to achieve OUTCOME by ACTION. I help AUDIENCE to achieve OUTCOME by ACTION. And with our last few seconds, here's an example. I speak on human connection. That's my day job as a speaker. So here's my one sentence. I help organizations build connected cultures by understanding and appreciating perspectives that are different from their own.

[00:05:16] Leyla: Perfect. Excellent advice. People are gonna be writing it down, rewinding this, rewatching it over and over again. Where can people find out more information?

[00:05:24] Brian: They could find out information@clarityupconsulting.com.

[00:05:28] Leyla: Perfect. Thank you so much, Brian. Good to see you.

[00:05:31] Brian: My pleasure. You as well.