Entrepreneurs United - Rich Hoffmann and John St. Pierre

The Entrepreneurs United podcast recently featured Robin Waite, a coach, author, and founder of Fearless Business. In this enlightening episode, Robin shared his journey, insights on pricing strategies, sales techniques, and his personal philosophy of fearlessness in life and business. Below is a detailed breakdown of the key takeaways from the conversation.

Entrepreneurs United empowers business owners to overcome common challenges that hinder growth and success. By providing strategic growth solutions, access to funding, and tailored exit planning, they help entrepreneurs unlock sustainable growth, achieve financial freedom, and build the businesses they’ve always envisioned—all while maintaining control and avoiding unnecessary setbacks. The podcast is hosted by John St. Pierre and Rich Hoffmann.

What We Discussed on the Entrepreneurs United Podcast

1. Life and business alignment matter: Robin Waite’s transition from agency life to coaching was driven by his desire to spend more time with family while creating meaningful work.
2. Overcome limiting beliefs around pricing: Many entrepreneurs undercharge for their services due to negative money associations or undervaluing their expertise.
3. Focus on outcomes, not hours: Clients care more about measurable results than the number of hours worked, so shift your pricing strategy accordingly.
4. Fearlessness leads to breakthroughs: Robin encourages entrepreneurs to face discomfort, whether it’s raising prices or having difficult sales conversations, to drive growth.
5. Self-care fuels success: Robin’s personal health challenge highlighted the importance of taking care of oneself to be able to give more to others.
6. Specialisation is key to scaling: Narrowing niches and focusing on one type of client helps businesses scale efficiently without overextending resources.
7. Authenticity wins in sales: Building genuine conversations by focusing on emotions and assessing fit creates trust and sustainable client relationships.

Robin Waite's Entrepreneurial Journey

Robin Waite began his entrepreneurial career with side hustles during university, such as building and selling laptops and performing network installations. His first registered business, a website design and branding agency, was founded in 2004 and ran for 12 years. Reflecting on that period, Robin acknowledged that he made numerous mistakes, such as poor management practices and an overextension of his team.

Turning Point in 2016

In 2016, with two young daughters and a demanding, unfulfilling agency life, Robin decided to sell the business. This marked a turning point as he shifted to coaching entrepreneurs and helping them create businesses that aligned with their goals and personal values.

Key takeaway:

• Life and business alignment matter: Robin’s desire to spend more time with his family while building meaningful work inspired his transition to coaching.

The Importance of Pricing and Money Mindset

One of Robin’s core teachings is helping entrepreneurs overcome limiting beliefs around pricing. He emphasised that many business owners undercharge for their services due to negative associations with money or an inability to recognise their true value.

The Pricing Conversation

Robin broke down pricing challenges with an illustrative example involving web designers:

• Web Designer 1: Charges £50/hour and delivers a subpar website over many hours, creating dissatisfaction for both the client and themselves.
• Web Designer 2: Charges the same rate but delivers a superior product in fewer hours, leading to lower income for higher-quality work.
• Web Designer 3: Charges £10,000 for a website because they focus on delivering measurable outcomes, such as lead generation, and even offers a results-based guarantee.

Strategies to Improve Pricing

• Focus on outcomes, not time: Clients care more about results than the number of hours worked.
• Communicate confidence: Use case studies, testimonials, and guarantees to instil trust.
• Break the taboo around self-promotion: Share your expertise and the value you provide without feeling like you’re “showing off.”

Fearlessness in Business

Robin’s business philosophy centres on reducing the fear that holds entrepreneurs back. From public speaking to raising prices, he argues that fear often prevents people from achieving their goals.

Key Concepts Behind Fearless Business

• Fear of looking stupid and losing money: Robin identified these as the two main fears that stop entrepreneurs from taking action.
• Progress through discomfort: Slightly uncomfortable conversations, such as asking difficult questions in sales, often lead to breakthroughs.
• Action breeds confidence: Robin’s book, Take Your Shot, emphasises taking action even when you’re unsure of the outcome.

Lessons From a Personal Health Challenge

Robin shared how being diagnosed with a benign brain tumour in 2023 reshaped his perspective. This life-altering news motivated him to take bolder actions, such as pursuing business opportunities he had postponed for years.

Key takeaways:

• Self-care isn’t selfish: Taking care of yourself enables you to give more to others.
• Time is limited: Stop procrastinating and take action on long-held goals.

Sales Techniques for Entrepreneurs

Robin’s approach to sales is rooted in authenticity and serving the prospect’s needs. He contrasts this with the stereotypical aggressive salesperson and offers a more empathetic approach.

Building Genuine Sales Conversations

1. Focus on emotions: People buy based on how they feel, so ask questions about their current situation and desired outcomes.
2. Don’t push for a sale: Detach yourself from the outcome and prioritise the client’s best interests.
3. Assess fit: Robin emphasised the importance of ensuring that potential clients are coachable and ready to do the work.

Lessons on Hiring and Scaling

Robin discussed common entrepreneurial mistakes around hiring and scaling businesses.

Mistakes Entrepreneurs Make

1. Broad niches: Serving too many types of clients and offering too many services multiplies workload and dilutes effectiveness.
2. Hiring for non-revenue tasks: Robin’s early mistake was hiring for administrative roles instead of revenue-generating ones.
3. Unstructured scaling: Without clear goals and profitability models, scaling can amplify inefficiencies.

Solutions

• Specialise: Focus on doing one thing exceptionally well for one type of client.
• Hire strategically: Prioritise hiring roles that directly contribute to revenue.
• Align capacity with demand: Ensure your business model supports sustainable growth without overextending resources.

Practical Tools and Resources

Robin provides free tools and content to help entrepreneurs optimise their businesses.

Free Resources

• YouTube Channel: Bite-sized advice for entrepreneurs, covering topics like pricing and business strategy.
• Signed Copies of Take Your Shot: Robin offers free signed copies of his book to help startups access actionable advice. You can request a copy at Fearless.biz/tys.

Frameworks

• Pricing Formula: Robin’s website features tools that help entrepreneurs calculate how much they need to charge based on income goals, desired hours, and client capacity.

Final Takeaways

Robin’s philosophy revolves around working smarter, not harder. By aligning pricing with value, narrowing niches, and focusing on outcomes, entrepreneurs can:

• Double their income with fewer clients.
• Create a fulfilling business aligned with their personal goals.
• Overcome fears that hinder growth.

Actionable Steps

• Reevaluate your pricing to reflect the value you deliver.
• Narrow your niche to focus on a specific client type.
• Adopt an empathetic, service-oriented approach to sales.
• Regularly assess your business model to ensure it supports your lifestyle and goals.

Robin’s story and strategies remind us that being fearless isn’t about recklessness—it’s about taking calculated risks to build a better business and life. If you’re ready to take your shot, visit Robin’s website for more resources and inspiration.