Coaching Conversations - Ep 5: Gaining Competitive Advantage, Cashflow Secrets & Negotiating with Suppliers.
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In this episode of Coaching Conversations, Nick and Chris discuss how to meet your customers needs when and where they need them most.
Learn how to develop and benefit from your competitive advantage.
What is your competitive advantage? How can you get one? It’s very simple… how can you find yours?
Is cashflow an issue for your business? The guys discuss how to get your cash flow to work for you.
How do we initially get in this position where cash flow is a major problem?
Nick provides workable tactics to ensure you get it back under control. How can you negotiate with suppliers to ensure a better deal?
All this and more in today’s upbeat and punchy episode of Coaching Conversations… Enjoy!
1:06 Best advice on competitive advantage? What do we need to focus on?
1:52 How do you become the round peg for the round hole? We need to meet the customer on their needs and wants. May need just one little tweak.
3:00 Competitive advantage – Location, Product, Versatility, Easy Payment options. Ask your client what they would like?
5:25 The game changer for any business. Make it easier for your client to purchase from you. Koala Mattresses example.
7:35 Giving a “Lifetime Warranty”. How can you do that and still benefit
8:25 It’s simple to create your advantage. A truck body shop example. Mechanic example.
10:30 Struggling with cash flow. How can we negotiate terms? Examples and Nick’s Tips.
14:56 How do you manage cash flow. Best tip?
15:27 Nick’s outlines practical suggestions for increasing cash flow structure.
16:45 Two main reasons for cash flow issues… and how to sort them.
18:24 Cashflow is like the fuel in your car. You can’t squeeze a rag and get to Perth.
19.30 Get the July edition of “The Up Coach Magazine”… dedicated to managing our finances. Get in touch to request a copy.
Episode 5 of Coaching Conversations answers two core questions for all businesses.
How can you develop a business that stands out from your competitors?
What is your competitive advantage? If you don’t have one, how can you develop it?
And how do you ensure your cashflow works for you? Learn the two (maybe 3) main reasons cash flow becomes an issue and what you can do to address them.
Real, practical and usable suggestions to incorporate into your business today.