Joseph Frost, Co-Founder of yorCMO, hosts this exclusive retreat for executives to unwind and hear from their peers about new opportunities and innovations in the C-Suite.
Episodes
Tuesday Nov 30, 2021
Tuesday Nov 30, 2021
With plenty of experience working as a c-suite executive, today’s guest is the perfect person to talk about life in the c-suite. Luke Templin is the co-founder, fractional CFO, and profit first coach at a2 Advisors. He sits down with host Joseph Frost, and together they talk about new things that c-suites are facing and ways they can improve their businesses, like through the triple cheeseburger pricing model.
Takeaways
- Almost every business has an opportunity to do a subscription model, and that can provide a larger revenue stream.
- The triple cheeseburger model; you have three prices where one is no contract and it’s the highest price, then a year contract and a two year contract with lower margins.
- Pricing isn’t formulaic, it’s really an art form. People need to realize how to use this art form to make their pricing options better.
- To decide if you are priced right, you need to look at your customer and notice what is important to them.
- Since fractional c-suites work with other businesses, they get to see what worked well and what didn’t work well with other businesses and only carry over best practices.
- A fractional CFO adds accountability to a company, typically most CPA firms are hesitant to give guidance but a fractional CFO will share their opinion.
- 82% of businesses fail because of cashflow. Most owners understand their profit and loss statements well but they struggle to understand the cashflow.
Quote of the show:
2:17 “One thing we put together is, what I call the triple cheeseburger model. So you have three prices, essentially. You have one that's no contract and is the highest possible price. Then you have here's what a year contract looks like and how much volume you have to purchase from us. You go to the midrange. And then a two year contract with lower margins. I call it the triple cheeseburger cause the triple cheeseburger was created in order to sell the double. If you pay attention it's all around us. If you look at Starbucks, it's a lot of pricing.
I call it gaming, but a large option. I don’t know what that at Starbucks is called, you look at the price difference between that and medium, there's not a huge difference and it's really not a huge difference in size either. And so there's a theory that people don't put into pricing. Most people think pricing should be some formula that should be very scientific, but to me, it's an art form."
Links
- Twitter: https://twitter.com/luke_templin?lang=en
- LinkedIn: https://www.linkedin.com/in/luketemplin/
- Website: https://www.a2advisers.com
Ways to Tune In
- Amazon Music
- Apple Podcast
- Spotify
- Google Podcast
- Stitcher
- YouTube - https://youtu.be/cPXOhy5jpSI
Tuesday Nov 23, 2021
Tuesday Nov 23, 2021
Valerie Cobb is the Fractional Chief Sales Officer at Lodestar U.R.Y., and she joins host Joseph Frost to talk about how outsourcing can provide a lot of help to other C-Suites. She was not only the Director of the highest selling team in company history at Taxware Systems, but also a private vocal coach for 18 years!
Takeaways:
- The biggest problem facing c-suites today is that they are missing out on some opportunities because they are closed off to ideas they don’t understand.
- Outsource work is a great way to save costs and take a lot of work off the plate of those in the c-suite.
- Marketing needs to drive sales. They have to be well meshed in order for them to work well together.
- You need to have a process in place before you assign a person to a job, otherwise it’s work without a clear direction.
- C-suites have to look for the line drawn in the sand between training and consulting and actual fractional chief leadership of any kind.
- Every business needs to have three core values to survive; Finances, Operations and incoming revenue.
Quote of the Show:
7:28 There are three core things that a business has to have. They have to have finance, they have to have operations and they have to have inbound. They have to have revenue coming in. So imagine, a small company, they can afford $50,000, but they're just really throwing $50,000 away, because it's going to take them four or five years. I have taken statistics talking to people like how long did it take you to ramp that position up?
Oh, four years. Okay. What did you just do for four years? Not only did you lose revenue for those four years because it wasn't really great. But you also paid somebody 50,000 plus benefits for 4 years. So in the fractional marketing world, we do it all the time. We outsource digital, we outsource calls, inbound lead generation from cold calling teams and things like that.”
Links:
- Twitter: @valerielury
- LinkedIn: https://www.linkedin.com/in/valeriecobb
- Website: https://www.salesqb.com/valerie-cobb/
Ways to Tune In:
- YouTube: https://youtu.be/F2fRewUW4YQ