Francie Jain discusses her entrepreneurial journey and insights from founding Terawatt, a B2B marketplace for professional coaching.

Key Takeaways

- Terawatt connects organizations with coaches, focusing on healthcare to reduce employee turnover and improve workplace dynamics

- Building a value-based business requires persistence and adaptability; it took Francie ~9 years to find the right business model

- Understanding personal strengths/weaknesses and leveraging relationships are key to entrepreneurial success

- Professional development and coaching can significantly reduce employee turnover, potentially saving millions for organizations

Topics

Terawatt's Evolution

- Started in 2016 addressing job losses in manufacturing (5-15M from 2000-2016)

- Pivoted to a B2B marketplace model connecting coaches with organizations

- Now focuses on healthcare vertical to address high turnover rates (industry avg ~20%)

- Uses group coaching to improve workplace dynamics and reduce turnover

Business Model Insights

- B2B focus allows leveraging existing professional development budgets (~$1,200/employee avg)

- 15% commission model aligns incentives with coaches

- No upfront costs for coaches, reducing barriers to platform adoption

- Case study: Reduced hospital turnover from 24% to 4%, saving $33M over 8-9 years

Entrepreneurial Lessons

- Value-based businesses may take longer to find the right business model

- Focus on personal strengths (e.g. Francie's relationship-building skills)

- Outsource or table tasks you're not good at, especially with limited budget

- Constantly seek and listen to feedback to outperform your talent

Professional Development Impact

- Correlation between nurse burnout and negative patient experiences

- Investing in employee development increases loyalty and retention

- Healthcare professionals often lack management training despite technical expertise

Leadership Insights

- Leverage various mentorship sources: books, networking groups, coaches

- Recommended book: "Turn the Ship Around" by L. David Marquet

- Set clear success metrics with new hires/bosses to align expectations

You can subscribe to the podcast at https://matthewefird.com.

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Interested in having Matthew speak at your upcoming Event? Go here: https://matthewefird.com

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Cole Flanders discusses his faith journey and beliefs as a dad and an entrepreneur.

Key Takeaways

- Cole's faith journey began as a pastor's kid but became personal in college through intentional study and mentorship

- Regular church attendance, intentional prayer time with his wife, and daily family worship are key practices in Cole's faith

- Cole emphasizes the importance of finding Christian mentors and community for spiritual growth

- Passing faith to the next generation involves consistent modeling, teaching, and incorporating faith discussions into daily life

Topics

Cole's Faith Journey

- Grew up as a pastor's kid in Methodist churches

- Faith became personal in college through campus ministry involvement

- Father encouraged him to study and form his own beliefs

- Pivotal mentorship from Pastor Rob Bailey after college

Key Faith Practices

- Regular church attendance for community and accountability

- Biannual prayer retreats with wife to seek God's direction

- Daily family worship time including Bible reading and prayer

- Intentionally incorporating faith discussions into everyday moments with children

Discerning God's Call

- Looks for open doors and lack of clear "no" from God

- Continued to pursue Chick-fil-A opportunity despite many initial rejections

- Emphasizes patience and persistence in following God's leading

Sharing Faith with Others

- Finds asking about church attendance an easy conversation starter

- Acknowledges personal discomfort but pushes through it

- Seeks to learn about others' backgrounds to guide conversations

Passing Faith to Children

- Consistent church attendance as a family

- Daily family worship time ("dessert and Bible time")

- Incorporating faith discussions into discipline and everyday moments

- Goal is for faith conversations to be natural, not forced

You can subscribe to the podcast at https://matthewefird.com.

Are you a seasonal business owner who's struggling to make ends meet during the winter months? Do you hate losing great staff when the weather turns cold because you don't have enough work to keep them employed year-round?

You could be a perfect fit for a Lighting Pros Franchise location! Learn more about Lighting Pros Franchise here: https://lightingprosfranchise.com

Would you consider yourself a corporate refugee or portfolio investor looking to get into business ownership in the emerging market of outdoor lighting? Would you be interested in an award-winning system focused on permanent holiday lights, landscape lighting, and temporary Christmas lights? Did you know that you can do outdoor lighting all year long? You could be a perfect fit for a Lighting Pros Franchise location! Learn more about Lighting Pros Franchise here: https://lightingprosfranchise.com

Interested in having Matthew speak at your upcoming Event? Go here: https://matthewefird.com

Looking for the best AI Notetaker? Check out my link to FathomAI and get a month of premium for free! https://fathom.video/invite/UT2ZaQ

John Ray discusses his book "The Generosity Mindset" and insights on pricing strategies for small business owners.

Key Takeaways

- Clients often see more value in services than business owners realize; understanding this client-perceived value is key to effective pricing

- Asking probing questions about client motivations and outcomes helps uncover true value and informs pricing strategy

- Offering tiered pricing options (good/better/best) allows clients to choose their preferred level of service and often leads to selecting the middle option

- Charging based on value and creating win-win transactions is ethical and necessary for business sustainability, even for faith-driven entrepreneurs

Topics

John Ray's Background and Expertise

- Business advisor/consultant/coach specializing in pricing strategies, particularly for service-based businesses

- Host of North Fulton Business Radio podcast (850+ episodes)

- Author of "The Generosity Mindset" about pricing journey and helping others improve pricing

Understanding Client-Perceived Value

- Clients often see intangible value beyond the core service (e.g. pride in well-lit business, enhanced branding)

- Example: Garage door repair valued for "domestic tranquility," not just fixing the door

- Ask probing questions to uncover true client motivations and perceived value

- Look for clients who give unprompted positive reviews or want to buy additional services

Pricing Strategies

- Have "value conversations" to understand outcomes clients truly value

- Offer tiered pricing options (good/better/best model) - most choose the middle option

- Consider differentiating based on timing, who does the work, etc.

- Avoid underpricing or offering "too good to be true" prices that may deter clients

Ethical Considerations in Pricing

- Charging based on value allows businesses to be sustainable and continue serving clients

- Faith-driven entrepreneurs shouldn't feel obligated to undercharge or give everything away

- Example: Chick-fil-A charges premium prices but delivers value and gives generously

Improving Client Selection

- Be more selective about clients as you grow; don't take everyone who comes in the door

- Focus on best-fit clients who value your services most

- Consider serving fewer clients at higher prices for increased profitability

Next Steps

- Read John Ray's book "The Generosity Mindset" for more in-depth pricing insights

- Evaluate your current pricing strategy and client base

- Implement value conversations and tiered pricing options in your business

- Follow John Ray on LinkedIn (JohnRay1) for ongoing pricing and value commentary

- Visit johnray.co or email john@johnray.co for more information

You can subscribe to the podcast at https://matthewefird.com.

Are you a seasonal business owner who's struggling to make ends meet during the winter months? Do you hate losing great staff when the weather turns cold because you don't have enough work to keep them employed year-round?

You could be a perfect fit for a Lighting Pros Franchise location! Learn more about Lighting Pros Franchise here: https://lightingprosfranchise.com

Would you consider yourself a corporate refugee or portfolio investor looking to get into business ownership in the emerging market of outdoor lighting? Would you be interested in an award-winning system focused on permanent holiday lights, landscape lighting, and temporary Christmas lights? Did you know that you can do outdoor lighting all year long? You could be a perfect fit for a Lighting Pros Franchise location! Learn more about Lighting Pros Franchise here: https://lightingprosfranchise.com

Interested in having Matthew speak at your upcoming Event? Go here: https://matthewefird.com

Looking for the best AI Notetaker? Check out my link to FathomAI and get a month of premium for free! https://fathom.video/invite/UT2ZaQ