How Smart Families in Business Turn Cashflow Uncertainty Into Clarity and Control

26 May

Ask your team what your business sells, then ask your business partner, and then ask yourself. If you get three different answers, there’s a good chance this episode will change the way you think about your business.

One of the biggest mistakes business owners make is believing they are selling the service, when in reality, what people are actually buying is something very different.

In this episode, Mark and Caroline unpack what your true product actually is, why so many business owners get it wrong, and what happens when you finally start leading with the outcome your clients actually want instead of simply describing what you do.

Using examples from mortgages to dentists, ice cream to coaching, they explore why the businesses that create stronger loyalty and grow faster are often the ones that understand what people are emotionally buying and build their marketing, messaging, and client experience around that.

This is one of those conversations that might just change the way you think about your business, your team, and the experience you create for your clients.

In today's podcast, Mark explores:

01:05 – Why describing what you do is not the same as explaining why people buy from you
02:14 – Why the most successful businesses rarely lead with what they do
06:00 – The emotional connection that turns first-time clients into loyal ones
07:53 – Why your team needs to understand what you really sell
09:27 – The question that helps uncover what your clients are really buying
10:49 – Why transactional thinking could be holding your business back
13:12 – What your clients are actually loyal to (and why it matters)
15:25 – The three steps to building your true product into your business

The businesses that tend to grow stronger over time are often not the ones with the biggest budgets or the loudest marketing. They are the ones that understand what people are really buying, make sure their team understands it too, and build that thinking into the way they market, communicate, and deliver their service.

Because once you get clear on what you actually sell, it changes the way people experience your business.

Quotes

“If you can get people to emotionally connect with your product, you're far more likely to get them to buy and to continue to buy.” - Mark Creedon

“When do you buy ice cream? You don't buy ice cream because you're hungry. You buy ice cream because you're happy and you celebrate. Or you buy ice cream when you're feeling a little bit low and you want to cheer yourself up. So therefore, what Baskin-Robbins sell is actually happiness.” - Mark Creedon

“How are you possibly going to get the language that you need for people to buy and for you to make money if you don't know what you're selling?” - Caroline Creedon

“It's easier for businesses to get stuck in the transactional process of business. But if they don't get their team on board with the clarity of what the product is, their business isn't going to be able to increase. Once you do have those sorts of things ingrained into your team, there's going to be dramatic increases in the profitability and organisational level of the business.” - Caroline Creedon

“People don't look at a Nike shirt and go, ’It is logical for me to pay $120 for a T-shirt with just a little tick on it.’ That's not logical. But what is emotional is ‘I'm going to buy that $120 shirt because that means something. That makes me feel good that I'm wearing a Nike shirt.’” - Caroline Creedon

The Mastermind for Business podcast is powered by Business Accelerator Mastermind, a coaching program that helps service business owners and professionals double their revenue whilst halving their time in the business. Each week, Mark Creedon, a Business Coach at Business Accelerator Mastermind, speaks with some of the best business minds in the world and shares simple, practical steps you can take to create the business you always wanted.

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About Mastermind Business Accelerator

Mastermind Business Accelerator is a hands-on practical program aimed at driving results fast. Spearheaded by Mark and Caroline Creedon and a range of highly qualified experts, the program will give you back the freedom you hoped for when you first started your business or professional practice. With his coaching program, Business Accelerator Mastermind, Mark helps business owners maximise their time, set and achieve goals, while remaining accountable.