In this episode, we revisit the timeless business advice of Pascal Bachmann, focusing on his five strategies for elevating your business, originally published in December 2020. With the ever-changing landscape of entrepreneurship, we explore how these insights have adapted to current realities while maintaining their core relevance. From establishing a clear vision to the importance of customer relationships, we discuss the need for digitization and building strong teams in today’s market. We also delve into the critical aspect of understanding financial metrics, emphasizing the balance between passion and practical decision-making. This episode is perfect for entrepreneurs and business owners looking to navigate their paths with a refreshed perspective on foundational strategies that stand the test of time.
#BusinessGrowth #EntrepreneurTips #BusinessStrategy #PascalBachmann #CustomerRelationships #DigitalTransformation #SmallBusinessSuccess #TeamBuilding #KPIs #Leadership #NextLevelBusiness #EntrepreneurshipJourney #SmallBusinessGrowth #BusinessLeadership
Pascal Bachmann is a seasoned business strategist and entrepreneur known for his innovative approach to business development and leadership. With years of experience in various industries, Pascal offers invaluable insights that empower others to achieve sustainable growth and success.
Main Host: All right. So. Who hasn’t seen those articles, right? Like five easy steps to supercharge your business. But sometimes those simple, catchy titles actually have some good advice hidden in there, even if it’s from a few years back.
Co-Host: Yeah. Easy. Always makes you raise an eyebrow, right? Like sure.
There’s some timeless wisdom out there, but usually. There’s a good dose of hard work involved too.
Main Host: Oh, absolutely.
Co-Host: So what’s the article we’re diving into today?
Main Host: Well, it caught my eye because it’s from December 2020, so right in the thick of things. And it’s called, get this, five easy ways to bring your business to the next level in 2021.
Co-Host: Okay, I see what you mean about those catchy titles. Easy, next level, got to love it.
Main Host: Right. So, it’s from the Miami News Network, and the advice is from a business leader named, Pascal Bachmann.
Co-Host: Pascal Bachmann, alright. Lay it on me.
Main Host: So, we’re gonna dig into his five points, see if they’ve stood the test of time, because it’s been a wild few years.
Co-Host: Understatement.
Main Host: And maybe, just maybe, give his advice a little 2024 refresh for everyone listening.
Co-Host: I’m in. Always love a good blast from the past, especially when we can learn from it.
Main Host: Exactly. So Pascal, he starts off strong with a classic. Know what you want.
Co-Host: Okay, sounds straightforward enough, but sometimes that’s the stuff that trips people up the most?
Main Host: Right, because it seems so obvious. But it’s like that saying.
Co-Host: Oh, what is it? If you don’t know where you’re going, any road will get you there.
Main Host: Yes, that’s the one. Except in the business world, any road might lead you straight out of business.
Co-Host: Ouch. Yeah, that’s not the kind of growth we’re aiming for.
Main Host: Definitely not. And Pascal, he was big on the whole formal business plan thing. Roadmaps, lists of goals, you name it. It’s a really hammered home that you have to be specific about where you are now, and even more specific about where you want to be.
Co-Host: He’s not wrong.
Main Host: Yeah.
Co-Host: I mean, we talk a lot about agility these days, pivoting quickly when things change, but you can’t pivot if you don’t have a direction in mind.
Main Host: It’s like, you can renovate your house on a whim, but you better be darn sure the foundation’s solid first.
Co-Host: Exactly. Otherwise that new paint job isn’t going to matter much.
Main Host: And that’s what I’m curious about for our listeners. Like, has your vision for your business kept up with all the changes? Have your goals evolved, say, since pre-pandemic times?
Co-Host: It’s a good time to revisit those big picture questions, for sure. Because that initial clarity, like Pascal’s talking about, that’s what keeps you grounded when everything else feels chaotic.
Main Host: And speaking of chaotic, his next point is pretty interesting, especially given when he was writing this, ready for it. Digitize your business.
Co-Host: The year everyone learned to bake bread and perfect their Zoom backgrounds. I bet that seemed pretty spot on back then.
Main Host: It did, right? But remember, this is 2020. Having a website was still a big deal for some businesses. He talks about having a website, figuring out online lead generation, maybe setting up sales funnels.
Co-Host: Which is fair enough. That’s all pretty standard now.
Main Host: Right. But here’s where it gets interesting. He’s really pushing collecting customer data.
Co-Host: And boy, how times have changed. I mean, data privacy was on people’s radar back then, but now, GDPR, CCPA, you name it, you can’t just collect everything really anymore.
Main Host: It’s a minefield. Makes you wonder if Pascal were giving this advice today, would he still emphasize just collecting data, or would it be more about using what you have ethically in a targeted way?
Co-Host: Oh, for sure. It’s not enough to just have a database anymore. It’s almost like you need a strategy for your data, just like you need a business plan.
Main Host: It’s like having a library. Great! But if you can’t find the book you need because the whole system’s a mess, what’s the point? You need the right systems in place to make that data work for you, ethically and effectively.
Co-Host: Exactly. Quality over quantity and actually understanding why you’re collecting the data in the first place.
Main Host: All right, are you ready for Pascal’s next gem? This one’s all about the people.
Build a team.
Co-Host: The eternal debate. Delicate or DIY, right?
Main Host: Yeah.
Co-Host: Sounds like Pascal was firmly in the delegate camp.
Main Host: 100%. He’s all about getting the right people in place, whether that’s employees or freelancers.
Co-Host: Though even back then that was a hot topic, wasn’t it?
Employees versus freelancers.
Main Host: Oh, for sure. Though I’m not sure even he could have predicted how much the pandemic would shake things up. Remote work, the whole gig economy exploded. It’s like his advice suddenly got a whole lot more complicated to implement.
Co-Host: Imagine him trying to navigate managing a remote team, building a company culture online.
That adds a whole other dimension.
Main Host: Totally. So the core message, build a team, that still holds up, but the how to, that’s a whole other deep dive.
Co-Host: It really is. It’s not just, should we hire someone anymore? It’s, should they be local, remote? What are the legal implications? What kind of online culture are we building?
Main Host: Right. Pascal, you opened up a can of worms with that one. Tip number four, and I think this one’s super relevant today, maybe even more so now.
Pascal really stresses maintaining customer relationships.
Co-Host: That one seems like it should be tattooed on every entrepreneur’s arm, right? Pandemic or no pandemic, happy customers are everything.
Main Host: Exactly. And he talks about how those happy customers, they become like walking billboards for you. Word of mouth marketing at its finest. He’s all about exceeding expectations, amazing service, fixing problems quickly, all that good stuff. But here’s the thing. Have customer expectations even changed since 2020?
Co-Host: Oh, 100%. I mean, think about it. Back in Pascal’s day, if you had a bad experience, maybe you called and complained, right?
Now. You leave a scathing Yelp review that the whole world can see.
Main Host: It’s the court of public opinion, but online and amplified.
Co-Host: Exactly. And it means businesses need to be way more proactive.
Pascal was right about fixing problems quickly, but now you’re doing it publicly, on multiple platforms. It’s a whole different ballgame.
Main Host: And it’s not even just about putting out fires. It’s about creating those positive experiences that people want to share.
Co-Host: It’s about exceeding expectations consistently from the moment someone lands on your website to that follow up email a week later.
Make it seamless. Make it personal. Make it so good they can’t help but rave about you.
Main Host: So Pascal’s advice about relationships, still spot on. But now, there’s this whole digital layer on top of it.
Co-Host: Right. Because you’re customers. They’re your most powerful marketers, whether you like it or not. Treat them right, and they’ll do the advertising for you.
Treat them wrong, and well.
Main Host: Oof, yeah. The internet can be a brutal place.
Ready to crunch some numbers. Pascal’s last one is all about your financial house. He calls it, Know Your Numbers.
Co-Host: Love it. You can have the best product, the best marketing, but if your books are a disaster, Game over.
Main Host: He does not mess around, talking about knowing everything.
Investments, costs, profit margins, what your credit score is, the whole nine yards.
Co-Host: It’s about taking emotions out of it, which, let’s be real, can be hard for entrepreneurs. We’re passionate people. But as Pascal would say, don’t let your heart overrule your head when it comes to the bottom line.
Main Host: And I think that’s where a lot of businesses, especially new ones, they get tripped up.
They’re tracking website visits, likes on social media, all those vanity metrics.
Co-Host: Which can be useful. But they don’t always tell the whole story.
Main Host: Exactly! It’s like, those likes are great, but are they actually leading to more money in your pocket?
Co-Host: That’s what it all boils down to. Pascal’s, know your numbers.
It’s less about balancing your checkbook, more about understanding those key performance indicators, your KPIs.
Main Host: Okay, getting a little technical now. Give us an example.
What kind of KPI should people be looking at?
Co-Host: Well, we talked about customer acquisition costs earlier. How much does it actually cost you to bring in a new customer?
That’s a huge or lifetime value. How much can you expect to make from one customer over, say, a year, five years?
Main Host: So we’re talking way beyond just revenue here. This is next level stuff.
Co-Host: It’s about using those numbers to make strategic decisions.
Main Host: I’m already seeing how these simple sounding tips from 2020 are anything but simple when you really dig in.
Co-Host: Right. We’ve covered a lot of ground and there’s still so much more to explore.
Main Host: We’ll dive into all that and more in the next part of our deep dive. Stay tuned.
Co-Host: It’s funny, right? We were just talking about knowing what you want.
Main Host: Pascal’s first point.
Co-Host: Yeah, and it seems so simple, but I swear that’s the one I see people struggle with the most.
Even seasoned entrepreneurs?
Main Host: It’s true. It’s like you get so bogged down day to day. Suddenly you’re like, wait, what am I even working towards?
Co-Host: It’s that classic forest for the trees thing. Except the trees are like your to do list and the forest is your actual big picture vision.
Main Host: And Pascal was all about making time for that big picture, whether it’s a full on business plan or just, like you said, a list.
Just being intentional about it. Which, in our world of distractions, that’s harder than it sounds.
Co-Host: Oh, tell me about it. And it’s not even just the what, it’s the why, right? Like, why did you start this whole thing in the first place?
Main Host: Yeah.
Co-Host: What’s the impact you want to make? Easy to forget those questions when you’re knee deep in spreadsheets.
Main Host: It’s like finding your North Star. Keeps you oriented, even when everything else feels chaotic.
Co-Host: Hundred percent.
Main Host: And speaking of chaotic, remember how we were saying Pascal’s whole digitize your business thing. It hits different post pandemic, but even beyond data privacy, which we touched on, what else has changed?
What does it really take to stand out online these days?
Co-Host: Oh man. Where do I even start? It’s not 2020 anymore, right? Back then, just having a website, you were ahead of the curve. Now, everyone’s online. So how do you cut through all that noise?
Main Host: Content is king, but attention is queen. Something like that, right?
Co-Host: Exactly. You gotta grab people. And that means. Making content that’s not just useful, but engaging. Think about it. What’s going to make your ideal customer stop scrolling?
Main Host: And actually pay attention to you?
Co- Host: Yes. What problem are you solving for them?
Main Host: It’s about being helpful, not just salesy. Which, easier said than done sometimes.
Co-Host: No kidding. But don’t be afraid to get personal either. People connect with stories, with realness. Let people see the human side of your business.
Main Host: It’s like we were saying before, building relationships. Just online this time.
Co-Host: Exactly. And speaking of online, can we talk about video for a sec?
Because of a short film video.That’s where it’s at right now.
Main Host: Oh yeah, TikTok, Reels, even Instagram’s pushing it hard.
Co-Host: Exactly. It’s like having a mini TV studio in your pocket. Don’t overthink it. Have some fun with it.
Main Host: See, Pascal might have been on to something with that whole easy thing after all.
Alright. Teams. Build a team.
We already said it. The advice itself? Solid.
Co-Host: Timeless. Almost.
Main Host: But how you actually build that team, that’s what’s different now.
Co-Host: Night and day. I mean, remote team, that used to sound like some futuristic concept. Now it’s practically the default for some industries.
Main Host: So let’s say you’re listening and you’re like, okay, Pascal, you’ve convinced me.
I need to delegate. How do you even decide? Employee or freelancer?
Co-Host: It’s a question I get asked all the time and the answer is always it depends. What kind of work is it? What’s your budget look like? Even just what kind of company culture are you trying to build?
Main Host: So no easy answers there.
Co-Host: Not really, but let’s break it down a bit.
Main Host: Okay, lay it on us.
Co-Host: Well, first off, is this a one time project? Maybe you just need a specific skill for a short time. Or is this ongoing work where someone really needs to understand your business inside and out?
Main Host: That makes sense. Some things just scream freelancer, right?
Co-Host: Totally. Then there’s the budget.
Freelancers can be more cost effective in some ways, but then you’re managing a bunch of different people, which takes time.
Main Host: It’s like weighing the pros and cons. Freelancers give you flexibility, maybe specialized skills. Employees, you’ve got more stability, more of that shared knowledge.
Co-Host: And let’s not forget about company culture.
Even if everyone’s remote, you still want people to feel like they’re part of a team.
Main Host: How do you even do that when everyone’s all over the place?
Co-Host: That’s where being intentional comes in. Regular check-ins, even just casual virtual coffee dates. Maybe an in person retreat once a year, if your budget allows.
Main Host: So, even though the way we work has changed, the fundamentals of a good team, communication, shared goals, all that, still matters.
Co-Host: Maybe even more so now. Which leads perfectly into what Pascal talks about next, because what’s a team without?
Main Host: Customers. Maintaining customer relationships.
Co-Host: Bingo. And that’s something that’s arguably even more important now than it was back in 2020.
Main Host: Oh, for sure. I mean, back then, a happy customer might tell a few friends. Now, they’re telling their entire social media following.
Co-Host: Or, let’s be real, the entire internet. If they’re unhappy enough.
Main Host: Yeah.
Co-Host: The stakes are way higher.
Main Host: It’s not enough to just meet expectations anymore. You gotta blow people away.
Co-Host: And you gotta do it consistently. Think about it. What makes you a repeat customer somewhere?
Main Host: Honestly, feeling like I matter to that business.
Co-Host: Right.
Main Host: Remembering my name, my usual order, those little things.
Co-Host: It’s about the details. And in a world of endless options, those details, they’re the difference between someone choosing you or your competitor.
Main Host: So we’re adding a digital layer to Pascal’s way and we’ve talked about it, it’s not just about knowing how to do your taxes. It’s about what those numbers are telling you about your business.
Co-Host: Are you actually profitable? Are those marketing campaigns working?
It’s about using the data to make smarter decisions, not just relying on gut feeling.
Main Host: Which, easier said than done sometimes.
Co-Host: Oh, for sure. But this is where those KPIs we were talking about, those key performance indicators, this is where they come in handy.
Main Host: Okay, so, quick recap. What are some KPIs our listeners should be paying attention to?
Co-Host: We talked about customer acquisition costs, that’s a big one. How much does it actually cost you to get a new customer in the door?
Main Host: Right, because that free trial you’re offering. Not actually free if it takes you hours of work to set up for every single person.
Co-Host: Exactly. Then there’s lifetime value. How much can you expect to make from that customer over time? Because if you’re spending a ton to get them in, but they only make one small purchase and disappear.
Main Host: That’s a problem.
Co-Host: Exactly. You want those high value customers, the ones who stick around. And your KPIs can help you figure out how to get them.
Main Host: Okay, so, for those of us who aren’t like financial whizzes, this is where it can get overwhelming.
Co-Host: Totally get it. But it doesn’t have to be that complicated. There are so many tools out there now.
Main Host: To help make sense of it all.
Co-Host: Exactly. Don’t be afraid to ask for help either. Hire a bookkeeper. Talk to your accountant.
Knowledge is power. Right?
Main Host: Always. So, it’s less about becoming a CPA overnight, more about having a healthy relationship with your numbers.
Co-Host: 100%. The more comfortable you are with your finances, the better decisions you can make for your business.
Main Host: Going through all this with Pascal’s tips, it really hits home what you were saying before about the simplest advice being the trickiest to actually follow.
Co-Host: Isn’t it funny how that works? It’s like we get so caught up in the weeds. The algorithms, the latest marketing hacks,
Main Host: All the shiny objects.
Co-Host: Exactly. And we forget about the stuff that really matters. The fundamentals.
Main Host: And that’s what Pascal nailed. Even though this advice is a few years old now, knowing your why. A solid team, happy customers, understanding your numbers, that’s the bedrock.
Co-Host: Couldn’t agree more. That’s how you build a business that’s actually, well, built to last, not just chasing the next trend.
Main Host: Exactly. And I think what we’ve done here, taking these five tips and really digging in, shows that it’s not about just checking boxes.
It’s about approaching each of these things with like, real intention and being ready to adapt because…
Co-Host: The world’s not standing still.
Main Host: Never. So for our listeners who are feeling fired up right now, but maybe also a bit overwhelmed, what’s one thing, just one thing they can do today to put some of this into action?
Co-Host: You know what? Step away from the computer.
Main Host: Seriously.
Co-Host: Seriously. Go for a walk. Grab a notebook. Whatever works for you. And just sit with your why. Why did you start this business? What impact are you trying to make? Has that even changed since you started?
Main Host: It’s like hitting the reset button a little bit.
Co-Host: Exactly. Because when you’re clear on that why.
It’s, like you said before, your North Star. Makes all the other decisions a little easier. Building your team, finding the right customers, even just staying motivated when things get tough.
Main Host: Which, let’s be real, they always do at some point.
Co-Host: It’s part of the journey.
Main Host: It is. But knowing your why, that’s the fuel.
Main Host: 100%.
Co-Host: Yeah. And, it’s more than just making money, right? It’s about building something you’re proud of. Something that makes a difference.
Main Host: So well said. And I think that’s the perfect note to end on. Embrace the journey, all of it, the ups and the downs.
Co-Host: The wins, the lessons learned.
Main Host: And never stop learning.
Co-Host: Never. Things change so fast these days, you got to stay curious.
Main Host: Couldn’t agree more. A huge thank you to all our listeners for joining us on this deep dive. We’ll catch you next time.
Welcome to the Pascal Bachmann Podcast, where the journey to mastering the Millionaire Mindset unfolds across the CORE4 pillars of life: health, mind, harmony, and wealth.
Join Pascal Bachmann as he guides you on this journey to not just success but a life of significance and balance. In each episode, he will delve into the CORE4 that stands at the foundation of true success and fulfillment.
Join him as he converses with thought leaders, innovators, and trailblazers who have charted their paths to remarkable achievements. Together, you’ll explore actionable strategies, insightful stories, and transformative philosophies to enhance your well-being, sharpen your mindset, enrich your relationships, and grow your financial success.
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Find Pascal:
Website: https://pascalbachmann.com/
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