Franchise Maven - Gregory Mohr

Franchise Maven - Gregory Mohr

Discover Robin Waite’s strategies to scale confidently, add value, and set sustainable pricing. Learn to grow your business and avoid common pitfalls.

Starting and scaling a business is no easy feat. For many entrepreneurs, finding the right pricing structure, building an engaged audience, and creating a value-driven service can be the key to long-term success. In a recent episode of the Franchise Maven Podcast, business coach Robin Waite shares his insights into how businesses can avoid common mistakes, scale confidently, and truly add value to their products and services.

Gregory Mohr is a seasoned entrepreneur and franchise consultant, as well as the founder of Franchise Maven, a company dedicated to helping clients develop personalised franchise strategies. Starting as a restaurant turnaround specialist, Gregory discovered that treating employees with respect and addressing their concerns directly improved customer satisfaction and business performance. He now applies this philosophy to franchising, guiding candidates to determine if business ownership aligns with their goals while helping them identify franchise brands, cultures, and operating models that match their unique aspirations. Inspired by the Rich Dad, Poor Dad series, Gregory pursued an MBA alongside his engineering degree, blending analytical expertise with a passion for business. After 15 years as an engineer, he took the leap into business ownership, creating Franchise Maven to empower others on their entrepreneurial journeys.

What We Discussed on the Franchise Maven

  1. Focus on Adding Value: Build a business that delivers results beyond the basics. Engage and convert clients by ensuring your offerings solve their deeper needs.
  2. Prioritise Relationship Building: Growth stems from genuine connections, not just ads. Helping others fosters loyalty and creates sustainable success.
  3. Move Away from Hourly Rates: Time-based pricing often undervalues expertise. Instead, productise your services to align pricing with the value delivered.
  4. Leverage Incremental Pricing: Gradually raise prices as you gain experience and confidence. This builds trust while aligning your rates with your growing expertise.
  5. Understand the Economics of Business: Analyse your capacity and revenue goals to set realistic pricing. Align your services with your ability to deliver.
  6. Avoid Competitor Comparison Traps: Competing on price erodes value. Highlight your unique strengths and position your business as a premium provider.
  7. Test and Refine Market Strategies: Use data to gauge demand and adjust offerings. A strong marketing funnel ensures a consistent flow of leads and conversions.

The Importance of Adding Value in Business

Adding Value, Not Just Delivering a Service

In today’s fast-paced business environment, it's crucial to focus on adding real value rather than simply completing tasks or offering services. Robin Waite highlights the importance of building a business that not only delivers but also engages its audience and delivers results. For example, in the world of web design, it's not enough to simply build a website. A business needs to ensure that the website attracts visitors, keeps them engaged, and, ultimately, converts them into customers.

Building Relationships through Value-Added Services

One of the most effective ways to grow your business is by helping others first. Robin points out that, while many businesses invest heavily in social media ads, often the true growth comes from genuine connections and helping people. When you provide real value to others, they naturally return the favor, and this can lead to a sustainable business model that thrives without relying solely on paid ads.

Why Traditional Pricing Models Can Hold You Back

The Limitations of Hourly Rates

Robin believes that charging by the hour is one of the least effective pricing strategies for businesses. Hourly rates are often a reflection of a fixed exchange of time, which doesn’t take into account the true value you're providing to your clients. Instead, businesses should focus on the results they deliver, not just the time spent working.

How to Productise Your Services

To escape the trap of hourly rates, Robin suggests productising services. This concept involves packaging your services in a way that communicates a clear value proposition to potential clients. By creating specific, repeatable offerings, you can offer more structured services and charge accordingly, based on the value they bring rather than the time invested.

Robin uses the example of web designers to explain this. Instead of charging hourly for a project, a web designer could offer packages with set deliverables at fixed prices. Over time, as confidence builds, businesses should gradually increase their prices, learning to value their expertise more. This approach allows businesses to scale without being confined by time-based pricing.

Scaling Your Business: The Pricing and Confidence Connection

Gradually Raising Your Prices for Greater Confidence

One of the keys to successful pricing is gradual escalation. For example, Robin recommends that new business owners initially pitch their services at a lower price to build confidence. Once they've secured a few clients, they can increase their rates gradually, based on their growing experience and value delivered. This builds "muscle memory," where entrepreneurs begin to understand how to confidently charge higher prices as they improve their skills and results.

The Power of Incremental Pricing Changes

As businesses grow, they need to reassess their pricing regularly. Robin suggests that after a few initial successful projects, entrepreneurs should feel comfortable raising their rates. This isn't about just increasing prices but rather about adding more value to the service or product offered. When done correctly, raising prices can increase your profits without losing clients, as clients will understand they are paying for high-quality results.

Understanding Business Success: Supply, Demand, and Pricing

Why Poor Planning Is a Major Cause of Business Failure

Robin frequently cites poor planning as one of the leading causes of business failure. He stresses that a simple, one-page business plan can lay the groundwork for success. If a business is not clear on its pricing strategy or revenue targets, it can quickly spiral into confusion and missed opportunities.

Robin introduces the concept of “Goal-Focus Pricing,” where businesses determine how many units or services they need to sell in order to hit their annual revenue goals. This exercise helps business owners set realistic targets based on their capacity to deliver and the pricing model they’ve chosen. Often, entrepreneurs don't realise that the pricing decisions they make can directly impact their ability to achieve their financial goals.

The Connection Between Pricing and Capacity

For example, if a business owner wants to make $100,000 in revenue and they’re selling a product or service for $1,000, they’ll need to sell 100 units. However, many entrepreneurs fail to factor in their actual capacity, which might be limited to only 20 units per year. This stark realisation helps them understand that either they need to sell higher-priced products or look at increasing their capacity in some way.

Robin encourages entrepreneurs to be aware of the economics of their business, including supply and demand, and continuously test their market to ensure their pricing aligns with their ability to deliver. This insight helps business owners avoid becoming bogged down by unrealistic expectations.

The Flaws of Copying Competitors

The Dangers of Comparing to Others

A common mistake Robin sees in many new businesses is comparing themselves to their competitors. While this can offer some insight, it often leads to flawed business models. Particularly when it comes to pricing, businesses often mimic the prices of local competitors without understanding their own unique value proposition.

Robin points out that the most successful 10% of businesses are often the highest-priced providers. They extract a disproportionate amount of value from the market because they’ve found a way to offer premium services or products. Meanwhile, the remaining 90% of businesses typically compete on price, often undercharging for their services.

Rather than copying competitors, Robin advises business owners to focus on what makes their offering unique. By emphasising value and avoiding price wars, businesses can position themselves as premium providers in their market.

Marketing and Demand: How to Convert Leads into Clients

Generating Demand and Converting Leads

Robin breaks down the process of turning leads into clients by explaining the basic numbers behind marketing efforts. For example, to close 20 clients, a business might need to conduct 100 consultations. To get 100 consultations, the business might need to have 3,000 to 5,000 conversations with potential leads.

These numbers demonstrate the importance of effective marketing strategies and understanding the sales funnel. It's crucial to know how many leads are needed to convert a certain percentage into paying clients. By having a strong marketing system in place, businesses can ensure a steady stream of potential customers.

Testing Your Market

Robin also emphasises the importance of testing your market before committing fully. If you're unable to generate enough demand for your services at your current price point, it may be time to pivot and either offer a different product or shift into a new market. Understanding the balance between supply, demand, and pricing is key to ensuring the growth and sustainability of your business.

Conclusion: Build a Business That Adds Real Value

At the heart of Robin Waite’s business philosophy is the idea of adding value—whether that’s through your services, your pricing, or your marketing efforts. By focusing on delivering value to your clients and charging for that value, businesses can grow sustainably. Robin’s insights, from productising services to understanding the fundamentals of supply and demand, provide entrepreneurs with the tools they need to scale and thrive in today’s competitive marketplace.

To learn more from Robin, check out his YouTube channel or grab a free signed copy of his book, Take Your Shot, available on his website. By following his approach, you can elevate your business and start charging for the true worth of your services.

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