The Broken Cookie Effect with Patty Block
Dec 28, 2021
Want to grow your business? Patty Block is joining Cash In On Camera to share her unique take on broken cookies and how you could be holding yourself back without even knowing it. Patty is known for helping women fine-tune their operations and scale their revenue for strategic growth.
Here’s a glimpse of what you’ll hear…
▶️ [1:55] And so our mindset is very different as we come into the business. Not too long ago, I connected the dots and realized between that statistic and watching my mom eat the broken cookies that there's something happening here in the 15 years that I've been working with women business owners. I see over and over this spirit of self-sacrifice that we learned from our role models that we bring into our businesses. And so, I coined the term the broken cookie effect and it has really been resonating with women that I'm talking to. And that's part of my mission is to bring this to awareness so that we can change.
▶️ [4:12] Then, we over-deliver on our services and we take fewer clients because there's only one. Even if we have a small team of people. So it's almost like a triple whammy of all of these things that keep our companies very small and not very profitable.
▶️ [6:42] So what I'm talking about is profit. How much power does that by? How many choices can you make based on what you're bringing in and what's going out of your company? So I'm very focused on cash flow and on what is your net income after you've paid all your expenses and your taxes, and perhaps you have staff.
▶️ [8:31] And because of that, it works against. So I start with shifting people's mindsets around money, pricing, and how to build in value and look at the value to your buyer. Not just what you think your services should be bringing in, but what is the value to your brand? I am so glad that I learned about value-based pricing early on because had I not learned that idea, I might have gotten caught up, especially in the video world.
▶️ [10:13] Exactly. And so I'm all about simplifying and standardizing, because what that does, including with your pricing, because what that does is it builds your confidence. You're not winging it anymore. You have a process and the other person will sense that will recognize it, and it gives them confidence. They start to trust you more. So there's that piece of it. Plus, you're guiding your buyer on a journey. And when you have a process, that is exactly the way they feel is they're going somewhere.
▶️ [12:30] I think they've standardized products. You can alter and tailor. I think that the proposals to prospects are based on different standardized things in your business that have been value-based priced, but do you agree with that? Like, that's how I do it. I have certain things that I offer certain strategies.
▶️ [14:16] And one other thing I wanted to mention is that right now, most women were waiting for the phone to ring. We have an inbound effort, so we're waiting for referrals and introductions, and that works until it doesn't. So one of the things I work with my clients is helping them define and find ideal buyers who are ideal buyers, where they're out there and now part of your job is to find them and to help them understand that you are uniquely suited to help solve their issues.
▶️ [16:23] I couldn't agree with you more. I think speaking, I've always advocated for business owners, women, and business owners, to speak on their own platforms and then also speak on other people's platforms. What is the common denominator speaking? You have to get out there and talk about your area of expertise on as many platforms as you possibly can.