Pricing Strategies to Combat the Rising Cost of Doing Business

Pricing Strategies to Combat the Rising Cost of Doing Business

Join the waitlist for The Australian Small Business Show Club by clicking here. [https://www.theaustraliansmallbusinessshow.com.au/] If you're wondering how to respond to the rising cost of running an Australian small business without simply increasing your prices, this episode is for you. Hello and welcome to this week's episode of The Australian Small Business Show. The cost of doing business continues to rise for Australian small business owners. From software subscriptions and supplier price increases to wage growth, superannuation changes and new compliance obligations, business owners are feeling the pressure from every direction. In this episode, we explore practical pricing strategies that can help protect profitability while continuing to deliver value to your customers. We discuss why regularly reviewing your pricing should become part of your annual business planning, rather than something that only happens when costs become unsustainable. We also explore alternative approaches including restructuring your offers, reviewing your service model, identifying areas of over-servicing, streamlining processes and understanding which parts of your customer experience truly add value. If you're managing Australian small business finance, these strategies can help improve profitability without compromising customer relationships. If you've been asking yourself, "How do I increase my prices without losing customers?" or "What can I do if I can't increase my prices?", this episode provides practical strategies to help you make confident decisions. We also share tips on communicating pricing changes effectively, explaining the value you provide, preparing for customer questions and approaching price increases with confidence rather than apology. Key Takeaways: * Review your pricing strategy every year instead of waiting several years between price increases. * Consider restructuring your products or services to better balance value, profitability and customer expectations. * Identify areas of over-servicing and remove activities that customers don't actually value. * Review your business processes and eliminate unnecessary steps that increase your cost of delivery. * Communicate price increases confidently by focusing on the value you provide and preparing for customer questions in advance. Connect with Us: If you're an Australian Small Business Owner, we'd love to connect with you on socials. You can give our Facebook Page a like here: https://www.facebook.com/theaustraliansmallbusinessshow [https://www.facebook.com/theaustraliansmallbusinessshow] Or follow us on Instagram here: https://www.instagram.com/aussmallbizshow/ [https://www.instagram.com/aussmallbizshow/] We'd love to hear from you! Subscribe to The Australian Small Business Show newsletter by visiting our website here: https://www.theaustraliansmallbusinessshow.com.au/ [https://www.theaustraliansmallbusinessshow.com.au/] Disclaimer: The information shared on The Australian Small Business Show is general in nature and does not constitute professional advice, legal or otherwise. We recommend consulting with your advisors on your specific circumstances.

How To Be a Great Spokesperson for Your Small Business with Theresa Miller – Author and Media Trainer

Join the waitlist for The Australian Small Business Show Club by clicking here. [https://www.theaustraliansmallbusinessshow.com.au/] If you've ever wondered how to become a more confident speaker, pitch your business more effectively, or handle media interviews with confidence, this episode is for you. Hello and welcome to this week's episode of The Australian Small Business Show. In this episode we are joined by Theresa Miller, media and presentation skills trainer, former television journalist, and author of Speak Up: How to Be a Successful Presenter and Media Spokesperson. We explore why communication is one of the most valuable skills an Australian small business owner can develop, whether you're speaking to a potential client, presenting to your team, appearing on a podcast, or responding to media enquiries. We discuss the common challenges business owners face when talking about their work, including the "curse of knowledge" that can make it difficult to explain what you do in a clear and relatable way. We also unpack the importance of using plain English, focusing on the benefits you deliver for customers, and tailoring your message to suit your audience. If you've been asking yourself, "How do I explain what my business does in a way that people actually understand?", this episode provides practical answers. We share simple communication frameworks that can help you structure presentations, sales conversations, networking discussions, media interviews, and business pitches so your message is memorable and actionable. Our guest, Theresa Miller, is an experienced media and presentation skills trainer who previously worked as a television journalist in Australia, London and Switzerland. She now helps business owners, executives, academics and industry experts communicate with confidence and impact. Theresa is also the author of Speak Up: How to Be a Successful Presenter and Media Spokesperson. Key Takeaways: * Why public speaking is about serving others, not promoting yourself. * How to create a clear and compelling elevator pitch focused on customer outcomes. * The importance of removing jargon and communicating in plain English. * Practical communication frameworks such as Point-Reason-Example-So What (PRES) to structure presentations and pitches. * Why researching your audience and understanding their challenges can dramatically improve your chances of success. * How authentic, in-person communication is becoming increasingly valuable in an age of AI-generated content and misinformation. Connect with Theresa Miller: Website: https://www.theresamiller.com.au/ [https://www.theresamiller.com.au/] Grab your copy of: Speak Up: How to Be a Successful Presenter and Media Spokesperson https://www.theresamiller.com.au/books [https://www.theresamiller.com.au/books] You can check our Theresa’s course here: https://www.theresamiller.com.au/online-course [https://www.theresamiller.com.au/online-course] Connect with Theresa on LinkedIn: https://www.linkedin.com/in/theresa-miller-tm-media/ [https://www.linkedin.com/in/theresa-miller-tm-media/] Connect with Theresa on Instagram: https://www.instagram.com/tm_mediatrainer/ [https://www.instagram.com/tm_mediatrainer/] Connect with Us: If you're an Australian Small Business Owner, we'd love to connect with you on socials. You can give our Facebook Page a like here: https://www.facebook.com/theaustraliansmallbusinessshow [https://www.facebook.com/theaustraliansmallbusinessshow] Or follow us on Instagram here: https://www.instagram.com/aussmallbizshow/ [https://www.instagram.com/aussmallbizshow/] Subscribe to The Australian Small Business Show newsletter by visiting our website here: https://www.theaustraliansmallbusinessshow.com.au/ [https://www.theaustraliansmallbusinessshow.com.au/] Disclaimer: The information shared on The Australian Small Business Show is general in nature and does not constitute professional advice, legal or otherwise. We recommend consulting with your advisors on your specific circumstances.

Maximising The Financial Year End

Join the waitlist for The Australian Small Business Show Club by clicking here. [https://www.theaustraliansmallbusinessshow.com.au/] If you've ever wondered how to maximise your tax position before 30 June and set your business up for a stronger financial year ahead, this episode is for you. Hello and welcome to this week's episode of The Australian Small Business Show. As the end of financial year approaches, many Australian small business owners focus on compliance tasks and tax returns, but there is also an opportunity to take a strategic approach to improving business performance. In this episode, we discuss the practical steps business owners can take before 30 June to ensure they are making informed financial decisions and preparing for a successful year ahead. We explore a range of end-of-financial-year strategies including reconciling accounts, understanding your profit position, reviewing business structures, making concessional superannuation contributions, identifying bad debts, prepaying eligible expenses, and improving debtor collections. We also discuss the importance of working closely with your accountant to understand the most appropriate tax planning opportunities for your specific circumstances. If you've been asking yourself, "What should I be doing before 30 June to reduce stress, improve cash flow, and make better financial decisions for my business?", this episode provides a practical roadmap. We also discuss how Australian small business owners can use the new financial year as a planning milestone by reviewing pricing, preparing cash flow forecasts, creating budgets, evaluating subscriptions and software expenses, and identifying opportunities to improve business performance over the next 12 months. We touch on upcoming changes such as payday super obligations and anti-money laundering reforms that may impact some professional service businesses. Key Takeaways: * Ensure your accounts are fully reconciled and up to date before 30 June so you have an accurate understanding of your profit position. * Speak with your accountant about tax planning opportunities, including concessional superannuation contributions and business structure considerations. * Review outstanding debtors, write off bad debts where appropriate, and improve collections to strengthen cash flow. * Consider prepaying eligible expenses such as insurance, subscriptions, training, and professional services where appropriate. * Prepare a cash flow forecast and budget for the new financial year, particularly with upcoming payroll and superannuation changes. * Review pricing, subscriptions, software tools, and operational expenses to identify opportunities for improved profitability. * Use the start of the new financial year as an opportunity to plan staffing, marketing, growth initiatives, and business priorities. Connect with Us: If you're an Australian Small Business Owner, we'd love to connect with you on socials. You can give our Facebook Page a like here: https://www.facebook.com/theaustraliansmallbusinessshow [https://www.facebook.com/theaustraliansmallbusinessshow] Or follow us on Instagram here: https://www.instagram.com/aussmallbizshow/ [https://www.instagram.com/aussmallbizshow/] Subscribe to The Australian Small Business Show newsletter by visiting our website here: https://www.theaustraliansmallbusinessshow.com.au/ [https://www.theaustraliansmallbusinessshow.com.au/] Disclaimer: The information shared on The Australian Small Business Show is general in nature and does not constitute professional advice, legal or otherwise. We recommend consulting with your advisors on your specific circumstances.

1 July Fair Work Updates Overview for Small Business Owners

Join the waitlist for The Australian Small Business Show Club by clicking here. [https://www.theaustraliansmallbusinessshow.com.au/] If you're wondering what Fair Work changes are coming from 1 July and how they will impact your Australian small business, this episode is for you. Hello and welcome to this week's episode of The Australian Small Business Show. In this episode we discuss the key Fair Work and workplace compliance updates that Australian small business owners need to be aware of as the new financial year approaches. With changes to minimum wages, Modern Award rates, superannuation obligations and parental leave provisions, now is the time to ensure your business is prepared and compliant. We unpack the Fair Work Commission's latest decision to increase the National Minimum Wage and Modern Award minimum rates, and what those changes mean for employers across Australia. We also explore the broader impact these increases may have on staffing costs, employee expectations around pay rises, and the importance of reviewing your pricing strategy to account for rising employment costs. If you've been asking yourself, "What do I need to do before 1 July to stay compliant with Australian employment law and the Fair Work Act?" this episode provides a practical overview of the key actions to take now. We also discuss the move to Payday Super, changes to the government-funded Parental Leave Pay Scheme, and some of the workplace law myths and scare campaigns currently circulating in the market. As discussed in the episode, a free annual compliance webinar will be held to help employers understand the changes and prepare their businesses for the new financial year. This is an excellent opportunity for Australian small business owners to stay informed and reduce compliance risks. Key Takeaways: * Modern Award minimum rates of pay will increase by 4.75% from 1 July. * The National Minimum Wage will increase to $26.44 per hour or $1,004.90 per week. * Payday Super is being introduced, requiring superannuation contributions to be paid much more frequently and within strict timeframes. * The Parental Leave Pay Scheme is expanding to 130 days (26 weeks) for eligible parents. * Rising employment costs should prompt business owners to review budgets, cash flow forecasts and pricing strategies. * Not every workplace law change being advertised is actually new, making it important to seek accurate advice and information. Connect with Us: If you're an Australian Small Business Owner, we'd love to connect with you on socials. You can give our Facebook Page a like here: https://www.facebook.com/theaustraliansmallbusinessshow [https://www.facebook.com/theaustraliansmallbusinessshow] Or follow us on Instagram here: https://www.instagram.com/aussmallbizshow/ [https://www.instagram.com/aussmallbizshow/] Subscribe to The Australian Small Business Show newsletter by visiting our website here: https://www.theaustraliansmallbusinessshow.com.au/ [https://www.theaustraliansmallbusinessshow.com.au/] Disclaimer: The information shared on The Australian Small Business Show is general in nature and does not constitute professional advice, legal or otherwise. We recommend consulting with your advisors on your specific circumstances.

The 5 M's: A Framework for Growing Your Side Business with Shandra Moran

Join the waitlist for The Australian Small Business Show Club by clicking here. [https://www.theaustraliansmallbusinessshow.com.au/] If you’ve ever wondered how to grow a service-based side business without burning out, getting stuck in perfectionism, or feeling overwhelmed by marketing and money, this episode is for you. Hello and welcome to this week's episode of The Australian Small Business Show. In this episode we welcome back returning guest Shandra Moran from The Transit Lounge to unpack the five pillars she believes every Australian small business owner needs to build a sustainable and successful service-based business. Drawing on more than a decade of business experience, we explore the common mistakes side business owners make, the steep learning curve of entrepreneurship, and why sustainable growth requires more than simply having a great idea. We dive into the five M’s framework: Method, Marketing, Money, Mindset and Momentum. We discuss why systems and processes matter, why marketing needs to be a deliberate strategy rather than a “hope” strategy, and why understanding your numbers is essential for long-term success in Australian small business. We also explore the emotional relationship many business owners have with money, why pricing can feel uncomfortable, and how mindset can either accelerate or handbrake your growth. If you’ve been asking yourself how to stop overthinking and finally launch your business idea, this episode will give you practical insight into moving past perfectionism and building momentum. We also discuss resilience in business, dealing with disappointment when launches don’t go to plan, and why measuring results and tracking data helps business owners make more informed decisions instead of reacting emotionally. About Shandra Moran: Our guest for this episode is Shandra Moran, founder of The Transit Lounge. Shandra works with women who have service-based side businesses and helps them transition those businesses into sustainable long-term ventures through coaching, workshops and mentoring programs. Before creating the Transit Lounge, Shandra had an eclectic career as… • A national multi-award winning Promotions & Marketing Director in the dynamic Radio industry • Talent Manager for the Merrick & Rosso Show on Foxtel • Head of People & Operations at a human performance consultancy – including managing one of the largest organisational culture change programs ever undertaken in Australia She is also a qualified Executive, Business and Results coach, has completed the Mindfulness Based Stress Reduction [MBSR] program, is an accredited international Money Breakthrough Coach, Podcast Host and co author of international best selling book Elevate Your Success [https://thetransitlounge.com/elevate-your-success-book/]. Shandra believes in lifelong learning, applying what I learn and sharing it with others so they can apply it too. I want to help as many people as possible to earn great money doing what they love, without burning out on the way. Shandra wants to help as many people as possible to create that world, by helping them to earn great money, doing what they love, without burning out on the way. If you’d like to connect with Shandra, you can visit her website here: https://thetransitlounge.com/ You can connect with her on LinkedIn here: https://www.linkedin.com/in/shandramoran/ [https://www.linkedin.com/in/shandramoran/] Or on Instagram here: https://www.instagram.com/thetransitlounge [https://www.instagram.com/thetransitlounge] Key Takeaways: * Why the five pillars of sustainable business growth are Method, Marketing, Money, Mindset and Momentum * The importance of having systems and processes in place before scaling your business * Why marketing should be a deliberate lead generation activity, not a passive strategy * How mindset and perfectionism can stop Australian small business owners from launching or growing * Why measuring results and tracking data helps you make better business decisions * The importance of building financial buffers so every launch or promotion doesn’t feel “make or break” * Why resilience and adaptability are essential for long-term small business success Connect with Us: If you're an Australian Small Business Owner, we'd love to connect with you on socials. You can give our Facebook Page a like here: https://www.facebook.com/theaustraliansmallbusinessshow [https://www.facebook.com/theaustraliansmallbusinessshow] Or follow us on Instagram here: https://www.instagram.com/aussmallbizshow/ [https://www.instagram.com/aussmallbizshow/] Subscribe to The Australian Small Business Show newsletter by visiting our website here: https://www.theaustraliansmallbusinessshow.com.au/ [https://www.theaustraliansmallbusinessshow.com.au/] Disclaimer: The information shared on The Australian Small Business Show is general in nature and does not constitute professional advice, legal or otherwise. We recommend consulting with your advisors on your specific circumstances.