Picture this: a classroom at Wake Tech Community College, filled with the energy of aspiring barbers. It's presentation day for their business model canvas projects. The twist? All but one student chose to present ideas outside the barbering industry. Why? Who truly knows? But word on the street - fear. Fear that their barbershop ideas might be "stolen" by classmates.

I've been emphasizing a crucial lesson throughout our eight-session program: collaboration is key in business. "If you're scared to present an idea," I told them, "it likely means you don't truly believe you'll implement it."

I wanted to instill in them the confidence to share their ideas, knowing that their unique perspective and drive are what truly set them apart.

Then came the moment that changed everything.

One brave student decided to present their business model canvas on a barbershop. As the class provided feedback, something magical happened. The room transformed into a think tank of innovation. Questions about barber travel led to head instructor, William Graham, sparking a discussion about cross-country barbering. Ideas bounced back and forth. One student coined the term "chair hopping," and suddenly, we were all creating together.

I stopped the class right there. "This," I said, "is why collaboration is key. This is why focusing on your actual business - the barbershop you want to create - is so important. You're getting real-world application, real-world advice, and assistance from people who genuinely care about your success."

It was a lightbulb moment for everyone. They realized that once they step into the real world, it would be incredibly rare to have 20+ business-minded individuals giving honest, caring feedback - people who aren't just friends or family, but peers invested in their success.

The "Chair Hopping" concept, although familiar to some – has not been executed on a mainstream level, but has the potential to be a revolutionary approach to barbering that's not just about the cut, but about the journey.

Not Just In the Barbering Industry

This collaborative creation process isn't unique to the barber industry though. In fact, many successful businesses and innovations have emerged from similar collective brainstorming sessions. > Read or listen to the blog for this full section <

What happened in the classroom that day was a perfect example of this collaborative magic in action. It showed these aspiring barbers the power of open dialogue, the value of diverse perspectives, and the potential for innovation when minds come together without fear or reservation.

I rewarded them by promising that I would create a RhodeMap for this business model and we have done just that! We won't dive too deeply into the concept in our blog, but in Part 2 we'll break it down a little to give you a sneak peek - stay tuned!

So, to all barbers, remember this: Your ideas gain strength when shared. They grow when exposed to different perspectives. And sometimes, the most revolutionary concepts are born not from solitary genius, but from the beautiful construct of collective creativity.

Are you ready to collaborate? Your move boss.

15 million, 540.8 million and 6.8 BILLION – those are the amount of glasses given away by, the annual revenue from and valuation of Warby Parker a purpose-driven, revenue-generating glasses retailer. Their "Buy a Pair, Give a Pair" program isn't just clever marketing—it's a masterclass in business impact and income...

...see it for yourself.

• Brand Differentiation: In a crowded eyewear market, this program helped Warby Parker stand out.
• Customer Acquisition: The social mission attracted socially conscious consumers, particularly millennials and Gen Z.
• Customer Loyalty: Customers feel good about their purchase, encouraging repeat business.
• Employee Engagement: The program boosted employee morale and attracted talent who wanted to work for a purpose-driven company.
• Media Attention: The initiative garnered significant positive press, providing free marketing.
• Business Growth: Warby Parker's valuation reached $6 billion, mainly attributed to their strong brand identity.

What's the lesson? Understanding and addressing community needs sets you apart from barbers who are solely focused on service delivery – it provides a competitive advantage.

"That's great for Warby Parker, but I'm not running a big company." ...think again. Whether you're a student just starting out, a seasoned professional, an educator shaping the next generation, or an influencer with a platform, you have the power to create ripples of positive change. Your barbershop has more potential for impact than you realize.

The Psychology Behind the Impact

According to a study by Cone Communications, 87% of consumers will purchase a product or spend with a service provider because they advocated for an issue they cared about. In other words, your impact strategy isn't just good for the community—it's good for business.

This directly aligns with the "warm glow" effect. Coined by economist James Andreoni in 1990.

His revelation gave language to the below consumer behaviors

• Emotional Reward
• Self-Interest in Altruism
• Intrinsic Motivation

The above behaviors that consumers felt resulted in:

• Dopamine Release
• Self-Image Enhancement
• Stress Reduction

So, how do you implement this in your barber business?

• Think Inside the Box: Begin with one community initiative based on your known/current knowledge.
• Integrate Data Collection: Implement systems to gather and analyze customer data ethically - use tools like short surveys, conversation notes, or digital check-in systems.
• Eat From the Feeding Hands: Listen for community needs during client interactions - Involve them in brainstorming and implementing community initiatives.
• Communicate Your Impact: You’re not bragging, you’re inspiring others to make a change.
• Partner Strategically: Collaborate with local organizations to amplify your impact.
• Measure & Adjust: Set clear, measurable goals for your initiatives - Regularly review the data and adjust your approach as needed.

It's time to think beyond the fade and consider how your skills can contribute to a greater good. Ready to make an impact and dive deeper into business impact strategies tailored for your industry? Text "strategy" to 888.572.2017.

Let your impact be the driving force of your income. Your move, boss.

Did the title get you here? Yeah – it was a good one and it's one of the strategies we're going to discuss below. Today we're going to briefly dive into "The Mind Games of Money" and decode the psychology of pricing.

We're constantly asked questions about pricing – which is why we talk about it every 6-8 weeks. This time we're going to dive deeper into one of our unconventional approaches on pricing, because beneath the surface of numbers and decimal points lies a fascinating world of psychology that can make or break a sale.

*To make sure we didn't overload you with information we limited our list to the three below.

If you want the full list and a one-time, 30min, complimentary consultation on how to implement one of these strategies in your business - text "strategy" to 888.572.2017.

The Decoy Effect: How Comparison Shapes Choice

Ever wonder why companies often offer three pricing tiers? It's not just to cater to different budgets—it's to guide your choice.

The Economist magazine once offered three subscription options:

• Web-only subscription for $59
• Print-only subscription for $127
• Web and print subscription for $127

At first glance, option 2 seems pointless. Who would choose print-only when they could get web and print for the same price? But here's the kicker: the presence of option 2 made option 3 seem like a bargain, significantly boosting its sales.

This principle, known as the "decoy effect," is used widely. Netflix, for instance, uses a three-tier pricing strategy that makes its standard plan seem like the best value, nudging customers away from the basic plan.

Anchoring and Framing: The Power of Context

The way a price is presented can be just as important as the price itself. This is where anchoring comes into play.

In a study published in the Journal of Marketing Research, researchers found that exposing consumers to a high anchor price for a product increased their willingness to pay by up to 50%.

Apple masterfully employs this technique. When they launch a new iPhone, they often introduce the premium model first, anchoring a high price in consumers' minds. This makes the standard model seem like a bargain in comparison, even though it's still a premium-priced product.

Charm Pricing: More Than Just Numbers

A study published in Quantitative Marketing and Economics found that using a $9 or $7 ending increased demand by more than 24% compared to a nearby price point. This phenomenon, known as "charm pricing," is so powerful that it even works when the 9 or 7-ending price is higher than a nearby round number.

While these psychological pricing techniques can be powerful tools, it's crucial to use them ethically. Manipulative pricing practices can damage trust and harm long-term customer relationships.

The key is to use these insights to better communicate your value, not to deceive or manipulate customers.

Understanding these psychological principles - as a barber - gives you a powerful toolset and an advantage in your industry. Brainstorm on which of the strategies we discussed best fits your current business model.

Remember, the goal isn't to trick customers into spending more, but to present your pricing in a way that accurately reflects the value you offer.

Feel like you know were to go from here, but you'd feel more comfortable with a personalized plan of action? That's why we're here! Text "strategy" to 888.572.2017.