Five Business Lessons from My Thailand Vacation

Five Business Lessons from My Thailand Vacation

Sometimes you just gotta get away to somewhere beautiful with delicious food and laid-back vibes. This is exactly what Koh Samui, Thailand was – four days in island paradise. I sat on the beach a bit, explored the island by motorbike a lot, and ate tons of Thai food. And by the time I boarded the plane back to Shanghai, I realized that not only had I vacationed like a total boss, but I’d also learned a few business lessons along the way. Set the stage. From the moment you get off the plane in Koh Samui you’re getting into vacation mode. Instead of deplaning into a nondescript terminal or, worse, a smelly bus, Koh Samui knows how to do it right. Exiting the plane first thing in the morning, I was thrilled to be greeted by one of those open-air zoo train thingies. With the fresh air blowing through my hair, I rode that little train straight to the open-air airport, which I could not have loved more. As we waited to board our departing flight four days later, this same open-air design helped us hang onto those vacation vibes just a little longer. How can you set the stage for a potential customer? Create an experience via social media by giving your business a personality and voice alongside strong imagery. Send potential clients a Welcome Kit that gives them a detailed look at what it’s like to work with you. Make a strong connection with your ideal customer by including the information they so badly need on your website. If bargaining is the norm, then bargaining is the norm. One of my favorite activities in Thailand is eating and shopping at the night market. Sadly (or maybe luckily!) Shanghai doesn’t have one. So you better believe I was …

Horton Brand Strategy How to Confidently Raise Your Rates

How to Confidently Raise Your Rates

No matter where you’re at in business, you should be thinking about that next level. Growth doesn’t necessarily mean hiring people to work for you or offering new services. It can just as well be a strategic plan for building your expertise in a particular area and continuously building your own niche in a particular market. Either way, though, your growth plan should include increasing revenue. Our discussion here about raising prices works for service and product businesses, so hang tight even if I say “rates” or seem to focus more on service-based businesses. Your business may even be a blend of these two models… all of this works for you too! So, how to grow revenue? Well, one way is to raise your prices. Real quickly though… a sidenote: You might realize that you’re charging way less than other folks your ideal customer would be attracted to and you’re okay with that. If you want to stay on the low end of the market, though, you must to do two things very well. First, you have to work really hard to show your expertise and build trust with your potential customers because many people think the lowest price means not as good. Second, you have to focus on doing a high volume of work (or selling a high volume of things) if you’re going to price at the lower end of your market. I know of an artist whose business model works like this and he does really well. But you better believe he’s booking a lot of shows and festivals and is in the studio churning out paintings like there’s tomorrow! Contrast that to a fine artist who charges hundreds (or even thousands) for one piece. He’s likely painting a lot less… and his marketing strategies are going …