I didn’t send out the last issue of Underneath the Numbers. It’s the first time I’ve “missed” sending it out. Every email marketer, every course, every person who has ever advised me on this says the same thing: consistency is everything; the schedule is the game; never miss, no matter what. They’re not wrong, and I heard their voices all week as I was working on the draft. And yet, when the deadline to schedule the email to go out approached, and eventually passed, I didn’t pull the trigger....
14 days ago • 2 min read
In addition to writing newsletters, I also enjoy reading them. In a recent issue from Ryan Levesque, he wrote about his 14 year old son heading off to boarding school: “And when he expressed desire to apply to one of the top high schools in the country, one filled with other kids like him from all over the world, we opened our hearts to that possibility And still, when he was accepted, the news was bittersweet. Because I thought we had so much more time. I thought I’d have my (now 14 year...
28 days ago • 2 min read
Two issues ago, we helped you find your Floor. Last issue, we focused on pricing in the value you deliver to your clients. I've watched a lot of owners get to this point, and then nothing. The price never changes. See, the hardest part about price increases is never the math or analysis; it's saying a bigger number out loud to somebody - especially when that somebody is used to a lower number. Telling someone your price can feel like you're placing a value on your own self-worth. And if they...
about 1 month ago • 3 min read
Last issue asked you to pick one job and cost it out, (Direct Costs, Overlooked Costs, Overhead Costs), then look at what you charged and ask whether you were above or below the Floor. If you came out above, good. If you came out below, that's worth saying plainly. It happens more than people admit, and it usually isn't a judgment call you got wrong. It's the Overlooked and Overhead costs doing what they do, which is stay invisible until someone makes you add them up. That's the whole reason...
about 1 month ago • 3 min read
I try to write these about whatever keeps coming up in client conversations. This is a word cloud from the past week of client meetings - we have a topic winner. Pricing being front of mind is not a surprise though. Costs have climbed steadily during the 2020s, and as most owners didn’t reprice enough to keep pace, they’re feeling the pinch in the bottom line now. Rising costs still aren't the reason to raise your prices, but they are the reason you need to know what your costs actually are....
about 2 months ago • 3 min read
Sharing your thoughts through an email newsletter is a strange thing. Some of the time it feels like writing into the abyss: no response, no reaction. And then sometimes your words land with someone in a way that moves them to write back. A recent issue of Underneath the Numbers received a surprising amount of feedback... well, surprising to me, anyway. (As a quick aside, if you missed any issues or want a refresher, you can read them here). One of the recent replies stuck with me: "I can...
2 months ago • 1 min read
Imagine this scenario is yours: For years, you've been syncing your service with a popular platform through that platform's free, public access. You've sent that platform thousands of customers along the way. It's been a good relationship, or so it seemed. Then, last week, the platform tells you the free access is ending. Going forward, it will cost somewhere between $200k and $1.0m a year for the same thing you've been getting for nothing. From free to a million dollars. For access you...
3 months ago • 2 min read
I'm a project-oriented person. I enjoy the work. I enjoy the completion, the sense of success, checking it off the to-do list, even if only metaphorically. But for the longest time, I struggled with what came after. A sense of emptiness. Confusion, sometimes. Even letdown. It took me a while to understand why (that's a topic for another day). What matters here is what I learned to do about it, because this past week alone, four different owners described some version of the same thing to me:...
3 months ago • 2 min read
"Should I raise my prices? I haven't touched them in three years." Someone asked me this recently. Before I get to the answer, here's what else they told me in that conversation: Material costs are up. Their team has gotten faster and better. They're turning down work because they're at capacity. They were thinking 12 to 15% across the board. And they were worried about losing clients. This question comes up a lot, usually with some real anxiety attached. Nobody wants to rock the boat with...
4 months ago • 2 min read