Tea with the Queen Emma McQueen

Increasing profitability can seem like a daunting task, but it doesn't have to be.
Today, I thought I'd share three ways to increase the profit of your business. Whether you’re a seasoned entrepreneur or just starting out, these tips can help you maximise your revenue and improve your bottom line.
 1. Dive Deep into Your Numbers
The first step to boosting your profitability is a thorough analysis of your numbers. It might sound really simple, or even silly but I see way too many women burying their heads in the sand because they lack confidence or financial literacy. 
2. Increase Your Prices
Another simple often neglected strategy for increasing profit is to raise your prices. Women, in particular, tend to undervalue their services and hesitate to charge what they're worth. If inflation and business costs rise, so too should your prices. Regularly reviewing and adjusting your prices to reflect the market conditions and the value you provide is crucial.
3. Create New Offers
 Introducing new, high-margin offers is another effective way to increase profit. This doesn’t mean pushing out offers with no margin—instead, focus on those with good revenue and strong profit potential.
LINKS:
Website
For a copy of Emma's book, 'Go-getter: Raise your mojo, shift your mindset and thrive' – https://www.emmamcqueen.com.au/book/

 One of the most common questions I get asked as a business coach is, "How do I price my services?" It causes stress and anxiety for many entrepreneurs so today I want to talk about value-based pricing and how value-stacking can make your offerings irresistible.
Value-based pricing is a strategy where the price of a product or service is determined by the perceived value to the customer rather than the cost of production or historical prices.   
Adopting a value-based pricing strategy allows you to communicate the unique advantages and value-adds your product or service offers. This helps you stand out in the market and escape the price wars.
 How to Implement Value-Based Pricing
1. Understand Your Client’s Perceived Value: Dive into the minds of your customers. What problems does your offering solve for them? What benefits do they value the most? 
2. Stack the Value:  When customers feel they are getting substantial value, they are less likely to question the price. To achieve this, provide additional resources, access to tools, or exclusive content that complements the rest of the package and addresses your client's needs.
Remember, the first sale you need to make is to yourself. If you're not thoroughly convinced about the value of your offer, it's time to reassess and add more value!
LINKS:
Website
For a copy of Emma's book, 'Go-getter: Raise your mojo, shift your mindset and thrive' – https://www.emmamcqueen.com.au/book/

“People just aren’t buying right now”.
It’s a phrase I’ve heard many times over the last 6 months at least, and I understand how difficult it can be to make sales right now. 
With rising interest rates, a housing crisis, ads becoming more expensive and generally sluggish social media engagement, we know the market has changed. 
But to say that people aren’t buying right now without looking at the bigger picture, I feel needs some further investigation. People are still spending money, and sales are still happening.
Here are three things you can do to keep selling through challenging times:
1. Get Creative and Stand Out
Don't just offer the same old thing everyone else does. Think about what makes you unique and how you can deliver exceptional value.
2. Your Energy Check In
People are drawn to positive energy. Do an honest self-assessment. Are you bringing the enthusiasm you need to connect with potential customers?
3. Be Proactive
No more waiting for leads to fall into your lap. Be intentional about your business development efforts. Here are some key areas to focus on:
Build Your List: Having an email list is crucial. It allows you to nurture leads and share your offers directly.Offer a Valuable Freebie: Incentivise people to sign up for your list with a freebie that solves a problem they have.Craft a Sales Process: Do you even have a sales process? Map it out to ensure you're consistently following the right steps to convert leads into customers.
While the sales landscape may seem harder right now, remember that people are still spending money. By implementing these key strategies – getting creative with your offerings, radiating positive energy, and taking a proactive approach to sales – your business can thrive.
LINKS:
Website
For a copy of Emma's book, 'Go-getter: Raise your mojo, shift your mindset and thrive' – https://www.emmamcqueen.com.au/book/

As we approach the end of the financial year, small business owners need to reflect on their financial position and make strategic decisions for the year ahead. That’s why today I’m sharing 10 key questions you can ask yourself to ensure financial preparedness.
 
1.      Have I maximised all my tax deductions?
2.      Are my financial records up to date?
3.      Do I need to make any last-minute purchases?
4.      Is there any income I should defer?
5.      Have I reviewed my business plan and budget?
6.      Am I on track with my retirement contributions?
7.      Should I adjust payroll withholdings?
8.      Do I have any outstanding invoices?
9.      How is my cash flow management going?
10.  What are my financial goals for the next year?
Preparing for the end of the financial year involves more than just crunching numbers—it requires strategic foresight, meticulous planning, and a proactive approach to financial management. By asking yourself these 10 crucial financial questions and taking action based on the insights gained, you can set your business up for success in the upcoming financial year.

Let's face it, running a small business is tough. There are days when the endless to-do list feels overwhelming, and there is a distinct lack of motivation.
I've spoken to many small business owners recently feeling this exact way. Words like "lacking motivation" and "no mojo" are all too common.
But here's the good news: you're not alone! Even the most successful entrepreneurs experience dips in motivation. The key is understanding why you're feeling this way and having some strategies to get your spark back.
Self-reflection is Key
The first step is to identify the root cause of your lack of motivation. Grab a cup of tea and ask yourself some key questions:
What energises you? When are you in flow?Are you bored or burnt out? 
What Drains Your Mojo?
For me, I’ve discovered that mojo depletion often comes from three main culprits:
Working too many hoursFamily time neglectNo "me" time
Five Ways to Reignite Your Mojo
Physical Activity & Self-CareEmbrace CreativityConnect with Biz FriendsMindfulness & MeditationChange Your Scenery
Remember, resurfacing from a lack of motivation is an ongoing process. Experiment with these tips and find what works best for you.
LINKS:
Website
For a copy of Emma's book, 'Go-getter: Raise your mojo, shift your mindset and thrive' – https://www.emmamcqueen.com.au/book/

I’ve had many conversations with exhausted entrepreneurs feeling totally stuck in business.
They’ve hit a wall. 
They’re sick of making decisions and they’re just in a giant rut.
If you’ve been there too (or you’re currently navigating this) you're not alone. Every entrepreneur hits this rut at some point, myself included.
The good news is, there’s a way out of the mess. In this article, I'm going to share some practical tips that helped me break free from feeling stuck in business and get back on track.
Ask Yourself These Questions:
Where am I? Be honest about your current business situation.Where do I want to go? What are your long-term goals?What's the gap? Identify the areas keeping you from achieving those goals.Am I aligned? Are your current actions supporting your goals and values?
Taking Action to Break Free:
Update Your Strategy: Review what's working and what's not. Be willing to ditch what isn't bringing results.Focus on Clarity: Analyse your client journey. What experience are you creating? Are there areas for improvement?Collaboration is Key: Network with others in your industry. Share your expertise and build relationships.Seek Support: Don't be afraid to ask for help. Mentors, coaches, and industry experts can provide valuable insights and keep you accountable.
Remember, feeling stuck is only temporary, but it takes action on your part to break free. By taking these steps, and most importantly, by believing in yourself, you can get your business unstuck and feel better about where you’re headed.
LINKS:
Website
For a copy of Emma's book, 'Go-getter: Raise your mojo, shift your mindset and thrive' – https://www.emmamcqueen.com.au/book/