Episode Transcript
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Speaker 1 (00:00):
It's that time of year when the buzz for a
Black Friday sale is everywhere. The coaches are teaching you
how to launch one. You are probably stressing out about
how to make yours profitable. And as a business owner,
you know that the whole Black Friday sale thing can work,
(00:21):
but you might be wondering, am I missing out if
I don't do one? And so that's what I want
to talk about today, because here's the thing. For some businesses,
a Black Friday sale is definitely a financial boost. But
what I will tell you is that for others, it
is what I like to call burnout disguised as opportunity.
And so in today's episode, I want to talk about
(00:44):
how to know the difference between whether this is a
good fit for your particular business and brand or it's not,
and maybe you can just sit this one out and
be totally fine in your business. I'm going to give
you some questions to ask yourself. I'm going to walk
you through a quick process I think you're going to
love and it's going to be very useful. And if
you want to go further in on this topic, I
(01:04):
have an article about it that I will link in
the show notes. That you can check out as well.
But let's get started. This is Chats with gg a
podcast for women who are ready to step into their power,
get unstuck, and create more freedom in all areas of life.
I'm your host, GGDZ, certified life and business coach, Media
(01:28):
personality and multi passionate entrepreneur. I've helped hundreds of women
find the necessary clarity, confidence, and courage to build their
dream life and achieve success with less stress. If you're
seeking weekly motivation, practical and spiritual advice, and tangible resources
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journey today. So there's a lot of data around Black
Friday sales, right. I think it was a study on
Drive Research in twenty twenty four that said that seventy
five percent of consumers we're planning to shop during Black Friday.
(03:16):
This is twenty twenty four. However, Forbes also found that
Black Friday sales are losing popularity among the type of
consumer that is tired of over consumption. So that leads
to our first question, it's what kind of consumer are
you usually appealing to when it comes to your brand.
(03:39):
What is a type of buyer that is totally turned
on by what you do and is creating a Black
Friday sale going to kind of go against their consciousness.
It's going to kind of go against their over consumption dislike. Right.
So while the hype of a Black Friday sale definitely
does look pretty irresistible, the truth is that not a
(04:00):
brand needs to jump in on that, especially if your
brand is built on intention, if your brand is built
on premium services, or if your brand is built on depth. Right,
if you have a brand that's more lighthearted, more you know,
disconnected from that kind of like very intentional, very like
(04:20):
holistic approach, then yeah, Black Friday sales might definitely be
a fit for you. But what I want you to
think about is a connection to your sales from the
right place, because the goal isn't always just more sales,
it's more aligned sales. Okay, So let's do a little
(04:40):
bit of a self audit here. This is just like
an exercise. I'm going to walk you through a few
reflection questions that I think are really good that I
use on my coaching clients inside the simple business system
when it comes to deciding whether to put their high
ticket program on some sort of Black Friday sales. So
you don't have to answer them all right now, but
(05:02):
they're going to help you to decide if this sale
is going to support your goals or maybe instead it's
going to sabotage them. So we're going to go through
the questions. This is a good opportunity for you to
listen to this episode. Now, Like, if you're driving any
able to answer the questions, that's fine, take a listen,
don't get distracted, keep your eyes on the road, but
maybe come back to it and do so with your journal.
(05:24):
Pause between the questions and kind of just write them out.
So first thing we're going to talk about is profit
and margins. Okay, I know sometime for some of us
this is like the really really sexy part of business
where we're like, tell me all the things about all
the numbers. For some other of us, I include myself
in both because I have been both in the past.
(05:45):
For some others this is like the ooh, I just
want to follow my heart. I just want to follow
my intuition, and this is good. I encourage you, you
know that, to always follow what your intuition has to say.
But it's important that when our intuition says something, that
then after the intuition the intuition has spoken that we
find the logical, tangible, systematic support for it. Okay, So
(06:06):
let's talk about the logical, tangible stuff right now, starting
with your profit and your margin. So what right now,
what's your margin buffer? Right? Can you actually afford a
deep discount without hurting your profitability? Okay? So what that
(06:28):
means is if you do a sale right now that's gonna,
I don't know, fill your Stripe account notifications. You're gonna
get the ding ding ding ding ding, but it's gonna
empty your energy or worst, so the cash flow isn't
really a win. Then it's not a good sale. Okay.
(06:50):
If you are going to launch a sale where the
discounts are going to really impact the actual profitability just
for the sake of having a sale, just to be
in the noise of hey here, I am one more
company offering a Black Friday sale, it's not worth it.
That's Number one. Making sure that you're clear on what's
(07:11):
your margin buffer and if this is going to hurt
profitability or not? Okay. Number two is I want to
talk about customer quality, right what's the quality of the
customer that you're going to attract if you do a
Black Friday sale? Are these deal seeker clients? Are these
long term kind of clients or are these going to
(07:34):
end up being loyal clients. Okay, this is not all
the same thing. There are people who have been following
your account for one, two, three years who've never invested
in you, and yeah, they might be waiting for a
deal to be able to get in on in on
your business. But there's a lot of other people who
were never going to invest in you and they're just
looking for something they can get for cheap. Right. These
(07:55):
aren't necessarily clients who are loyal to the brand. These
aren't necessary clients who are in it for the long term.
These are likely to be clients who are not going
to renew with you, who are not going to do
any of that once you bring them back to the
regular price, once the renewal comes at the regular cost.
Glow Sphere in twenty twenty four they did like a
(08:18):
survey or whatever, and they said that heavy discounts actually
train your buyers to wait for deals. So you want
to think about that too. Is doing a heavy discount
now going to potentially dissuade other clients who've been buying
from buying in the future at regular cost for the
(08:39):
rest of the year, or they're just going to sit
on buying until next November next Thanksgiving or Black Friday
or whatever it is. So some things to think about, Okay.
The other thing is I want you to think about
your brand. Right, Like, we talk about brand all the time.
We talk about what does your brand stand for? What
is your brand's voice, what is your brand's personality, what
is your brand vibe with? What are your true your
(09:00):
visions and your core values and all of those things.
And if you have all of that clear, then I
want you to ask yourself, does this event support your brand?
Does it support your brand positioning? Or could it potentially
damage your brand positioning? Right? If you are a premium service,
if you are like high end focused type of service,
(09:23):
whether it's in wellness or in business or mental health,
whatever the industry is as irrelevant. If your brand is
built on transformation, on high touch service, a deep discount
can actually confuse your audience about what your actual brand
value is, a value that you've likely been trying to
make very clear and evident for the entire year. And
(09:46):
so now you're like, oh, I'm taking two thousand dollars
off my program or a thousand dollars off my program
or whatever it is kind of doesn't make sense, right,
It devalues the brand. So, by the way, I just
want to pause right here, right now and say that
I am going to give you some alternatives that are
going to help you with all of this at the
end of this questionnaire. OK. So, if you do want
to end up doing it anyway, in a way that's
(10:06):
not going to hurt your brand alignment or whatever. Now,
the other thing that's important to think about when it
comes to deciding whether or not you should have a
Black Friday sale is we got to look under the
hood of your business, right, what is your capacity and
what are your operations? So depending on what kind of
service you offer, and what your team has to offer,
and what kind of time you have, and what's your
current payroll numbers looking like, do you actually have the team,
(10:31):
the systems, or the energy to handle a surge of
clients or orders. So, for example, if you are a
wellness center brand right and you lead with that kind
of wellness, a sale might actually burn you out instead
of bring you balance. That's one thing. The other thing is,
right now, if I were to give you with a
(10:52):
sailor without a sale, fifty new clients, can your team
handle it? If you have a team, can you handle
it if you have a team. Now, of course, if
what you're putting on a Black Friday sale is going
to be like an Evergreen program or something like that
that's not going to take up any additional time off
your calendar, then the answer is, yes, I have the capacity,
and yes the operations and systems are in place. You
don't have to manually onboard anybody. So this means that
(11:15):
your customer service and onboarding process and that first impression
opportunity with clients is not going to suffer the consequences
of you get a surge of clients but you're not
actually prepared to deliver to them. You have to manually
onboard everybody. You have to add more hours to your
calendar because what you're doing is maybe it's like a
(11:37):
one to one offer and now you have ten, twelve,
fifty more people who buy it. You have more success
than you think you might you were going to have,
And then what what's that going to look like for
the rest of the year for you come the holidays
and all of that stuff. So think about that. Do
you have the team, the systems, and or the energy
to handle a surge of clients or orders? Okay, now
(11:58):
let's talk about alternatives. If you don't have a sale,
what can you do instead? And here's what I do
recommend more so than a sale. Okay, so can you
have some sort of value add to your program? Right? So,
my program is always blank. If you buy during the holidays,
(12:18):
you also get and you add a value to it
instead of taking off of your price. This could be
a bundle, This could be a special perk. For example,
if I was doing it, I would say, if you
jump into this, maybe I will do this. I don't know,
it just occurred to me right now. If you jump
into the Simple Business System, if you purchase your seat
in SBS, the next live launch is going to be
(12:40):
in March. And if you purchase your seat now, you
get a signed copy of my book's first edition. You
get a VIP ticket to Move Breath Grow, which is
September nineteenth and twenty twenty six, and you get I
don't know, a three month access to the Seasoning Happy
(13:02):
Hybrid community where we do monthly breathwork, we do biweekly
live coaching, we do workshops with different experts. We're literally
doing a workshop. I think it's a series of workshops.
It's a three part workshop that we're doing now for
the month of November November sixth, thirteenth, and twentieth, teaching
you how to build wealth for yourself, how to choose
the rite retirement strategy if you're an entrepreneur, and how
(13:25):
to build wealth for your children even if you've not
built wealth for yourself yet. So we do a lot
of really wonderful things in there, and maybe that's something
that you would be interested in getting all of those
perks if you purchase the seats in SBS now. That
actually sounds like a really good bundle. I'm gonna have
(13:45):
to listen back to this episode and put that together.
So that might be something that you're like, Damn, I've
been thinking about joining SBS for a while. I definitely
want to save my seat now, especially because I also
get all these extra perks, right, So it might look
like shifting the buyer psychology from I'm going to lower
my prices of something that I've been telling you all
year long is absolutely most definitely valued, ad and worth
(14:09):
the price that I've been telling you too. I'm going
to add some perks if you buy it now. I'm
going to add some perks if you gift yourself, a
simple business system, a seat to work with me to
bring your overwhelmed one to one business into a one
too many structure that keeps you profitable and keeps your
calendar open. Right, if you purchase it now during Black Friday,
(14:32):
you're gonna get these extra perks. Right. So, I've said
this so many, so many, so many times before, and
I'll keep saying it. Just because the market shouts that
you need to sell more, it doesn't mean that you
need to step away from being so led and that
you need to echo what everybody else is doing. Okay,
ask your intuition, not just your spreadsheet. Does this sale
(14:54):
feel expansive in your body? When you close your eyes
and dignity breath and don't do this if you're driving.
But when you close your eyes and you ask your body, man,
should I do a Black Friday sale? Does it feel
expansive in your body? Or does it feel constrictive? If
it feels constrictive, if it feels like pressure, if it's like, oh,
kind of like a drag, then don't do it. Ultimately,
(15:17):
you are the boss. You can choose to not be
part of the noise. Whatever the noise is. Okay, now,
if you ask yourself that question and it feels super
expensive and it aligns with your rhythm and your margins
and your mission, then absolutely go for it. And if
you need support and how to do it and how
to get it done with less stress and in flow,
let me know on the DMS. Because of actually, in
the article that I wrote for the magazine that I
(15:39):
linked on that I linked in the show notes, I
asked the people in the magazine that are going to
be reading that article if they want to do like
a workshop or something like that, I'd be happy to
put something like that together. So inside the Simple Business System,
we teach you how to create a sale systems that
align with your energy and with your profitability. Your launches
(16:00):
don't need to depend on seasonal chaos like this. You
can do your launches profitably and stress free or with
less stress, because there's always a little bit of stress
behind what we're doing in business, but you can do
it all year long. So you don't need to opt
in to this kind of chaos if you don't want to,
if it does not align with your business structure, with
(16:20):
your brand, and with your desires. Okay, so before you
jump on a black Friday sale. I want you to
check your margins, check your messaging, and check your motivation.
Sometimes saying no to the noise is the most powerful
move that you can make as a business owner. And
if you want to dive deeper into the pros and
cons and learn the three aligned alternatives to discounting your worth,
(16:42):
you can read the article that I linked in this
show notes to go deeper into does your business really
need a Black Friday sale? So anyway, if this conversation
sparked something in you, maybe you're realizing that your sale
systems needs a little bit more structure. Go take a
look at the Simple Business System as well. This is
where we amplify and simplify your sales system so that
profit becomes peaceful and not pressured. Whatever you decide to do,
(17:07):
you know, I think it's going to be the best
choice for you. And you know I've got your back,
and you know I'm always rooting for your success. I
believe that your success is inevitable. So keep going and
I will chat with you soon. Thank you so much
for listening to this episode of the Chat with ggpodcast.
If you loved what you heard, it would light me
(17:27):
up inside. If you rate, review, and share this episode
with a business bestie who you think will benefit from
tuning in. Sharing this podcast is the best way to
help it grow and to continue to grow our tribe
as well. In the meantime, join me on Instagram at
ggd as live, or check out our latest courses and
(17:49):
programs for personal and business growth at seizinghappy dot com.