Thriving Post-Covid 19 with Howard Wolpoff

Howard Wolpoff, a marketing strategist with 25+ years of experience, walks small business owners through post-COVID recovery. He covers a 10-point checklist including turning your website into a lead generator, crafting a market-dominating message, and pricing tactics like upselling and bundling to protect margins. Free resources are available at postcovid19economy.com.
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Hello and welcome to Shedding the Bitch Radio, where you can discuss, debate, and get advice on how to discover and shed the bitches of fear, insecurity, self-doubt, and negative mindsets so you can realize your dreams and life purpose and create and accelerate the riches you want in life. Join us here live every Tuesday at noon Eastern and dialogue with us at 818-572-2910. You can also chat with us at blogtalkradio.com/sheddingthebitch or share your stories on our website at sheddingthebitch.com. Whatever the bitch is that's holding you back from living your life to the fullest, it's not worth giving up the riches in life that you deserve. So call in now and let Bernadette Boas know what's holding you back.
818-572-2910. Good day, good day, good day everyone. Welcome to Shitting the Bitch Radio. I am so excited that you are here. On this glorious day. Actually, I'm lying. It's kind of nasty here in Atlanta. There's a lot of clouds above. I'm sitting under some skylights and there's a lot of clouds out there, but that's okay because we need the rain and we need to get rid of the pollen. But it's spring. Happy spring, happy spring, happy spring, everybody. I am so excited about our conversation today. We are going to be talking to someone who's gonna get you ready and prepared and armed to take on the post-COVID-19 economy. But before we do that, I just wanna remind you of a couple of our past episodes that we've had, and you can always go back to sheddingthebitch.com, our radio channel right there, to find all of the episodes. Of course, on blogtalkradio.com, You can look for Shedding the Bitch Radio there, or any of the streaming services that you may download your podcasts. But some of our previous episodes, we obviously, over the last several months, everyone's consumed with just what do we need to do to get out of our head and actively moving forward, actively thriving, and that's what we want for you here in the Shedding the Bitch community. So we've been talking about persistence, was one of our conversations recently. We've had a conversation with Melanie Brown around hope, finding hope in even the darkest of times, and her ministry to really share stories of overcoming. It's a wonderful, wonderful conversation. Please take a look for both the audio broadcast as well as go to our Shedding the Bitch YouTube channel and you can find our Zoom online video interview as well. We've talked about not only not losing hope, but ensuring that you have that hope so you don't miss the opportunities that are being presented in front of you. Because there's tons of opportunities. We've been discussing that a lot. And then I walked you through our Vision to Victorious Achievement Plan. And you were able to define your victory plan even through that conversation. So again, go to sheddingthebitch.com for all of our episodes over the last number of years with guests, or when it's just you and me, uh, one-on-one. All right, so go and take care of that. And then of course, I want to make sure that all of you are aware, uh, we've got tons of people signing up, but of our upcoming Goals to Riches Blueprint Challenge, that are our 5-day challenge that will get you creating the goals if you don't have them, moving forward on the plans that you already have, or maybe you need to pivot and change and shift, as well as just overcoming whatever mental, emotional, spiritual, financial, physical challenges you might be feeling as a result of everything going on. But more importantly, I don't like to focus on that. I want to talk post, which is a great segue into our conversation. Uh, but go to our Goals to Riches Blueprint Challenge, sign up. It's going to be fabulous. We did it in February, we did it in, um, uh, late March, uh, and it's extremely popular. So go to goalstoriches.com and join in on that challenge. I'm giving away a lot of free gifts, everybody, so you definitely want to take advantage of that. All right, let's dive into our conversation today, which is all about how to prepare for post-COVID-19 economy. Alright, we're gonna be talking about strategies that you can implement to restart your business and resume generating revenues from places you may not even have thought about. Now what you really want to listen for, because you're gonna learn about, is the value of building strong business relationships, and that is key right now. How your website truly needs to be an operational sales tool and and not a digital brochure, and also how pricing strategies can be your fast lane to building your revenue stream. So our rich question today, and for our guests— hi Howard— for our guests today, our rich question that we pose to everyone is, um, a question about the topic that we're having that'll help you ground yourself into the conversation. So you are listening for tips and ideas and strategies that will answer that question that you might have. So today's rich question is going to be, what have you done so far to plan for the post-economy? Now some of you might be saying, well, I haven't. That's what we're here to talk about today. So if you want to Facebook, tweet with us, comment on our blog, use hashtags #PostCOVIDSuccess #transformation or #shedthebitch. Alright, now before we dive in, I do need a couple of thank-yous. I want to thank Deborah Parker of Parker House Virtual Services who have supported the program, has supported my business, has supported the Ball of Fire community and the Shedding the Bitch community for about 5 years now. And her organization provides virtual assistance and social media support. Small and corporate-sized companies. So you can always email her at deborahparker.va@gmail.com. Also Debbie Snelling of Georgia— North Georgia Tax Solutions. They provide a full range of financial and tax services to small and corporate-sized companies. You can go to ngtaxsolutions.com for information and, and tell both of them that I sent you. Okay, so let's talk about Howard. Hi Howard!
Hi, how are you?
I'm good, how are you?
I'm doing okay today.
Awesome, awesome. All right, so Howard Wapoff, correct?
Correct.
Is the chief marketing strategist at Profit Master Business Solutions. He is a marketing executive with over 25 years of experience helping hundreds of businesses create profitable solutions to drive sales, attract and maintain customers, and build a solid corporate brand. I'm sure that can relate to entrepreneurs too, right, Howard?
It's a little bit, yes.
He previously has served as the director of Best Media in Houston, Texas, and the vice president of client integration at Client Focus Media in Jacksonville, Florida, where he also produced 4 local TV shows and was a host on Buzz TV, an online business network where he has interviewed local business owners and leaders. Welcome, Howard.
Thank you very much for having me, Bernadette. I really appreciate it.
Oh, you're so welcome. And what a diverse background. I absolutely love it. So before we dive into all the business stuff, tell us a little bit about yourself, to expand on what that is. Where are you right now, and how's the weather there?
Sure, I'm actually somewhat close to you. I'm in Jacksonville, Florida. Looks like, I'm saying that because I haven't been outside yet today. I know we were in the 80s yesterday, so I'm assuming that's where we are right now. It was raining earlier this morning, but that seems to have cleared up. And I've been in Jacksonville probably for 13 years. I grew up in New York City. I grew up in the Bronx and lived in New York up until 2007 when we moved here.
Nice, very nice. And how are you dealing with everything going on right now? What's your environment like?
My environment, I've been home since March 12th. That's when my kids' school stopped. So I've been balancing my day with handling the house and doing my work and dealing with my clients and also being the teacher and principal of virtual school. So I have 3 kids in elementary school and middle school age. And so that takes up a good part of my day. So I start out very early to, to get ahead of the game and, uh, and work pretty late afterwards, right?
Well, and you couldn't have brought a better subject to, to the program than the post, because we do want to talk about the future. We want to really get everybody focused on, on the future. So beyond our conversation today, tell us a little bit about your business and the clients that you serve, um, beyond, you know, what we even introduced, just for our listeners to get a good idea of, um kind of, you know, where you focus and who you serve.
Sure, I work with small and medium-sized businesses and particularly the business owners to really address their strategies, to really get a 360-degree view of the business and what is, what has been happening, where the challenges are, and really set the path for future success. A lot of it is implementing. I start with 8 strategies initially that really help generate leads, sales, and revenues fairly quickly once implemented, and then really focus on those pressure points, those, those pain issues that they're having, and figure out strategies over the course of time how to address them.
Yep, absolutely. And what are you seeing out there right now? Give us an idea of what you're experiencing as far as, you know, the people that are coming to you and what, what questions do they have, what struggles are they dealing with.
It's a— the word that comes to my head is like a kaleidoscope, because there's all these different shapes and patterns and colors of what— of how people are thinking in their minds. I'd say overall, fear is the biggest thought. How is my business going to survive? How am I going to survive? What's going to happen to my employees? Those concepts, because most of the businesses I deal with have had to shut their doors and and really change their mindset if they were going to be able to create business over the last 6+ weeks.
Yep, absolutely, absolutely. All right, so how should they— how should they, you know, because they're business owners, their companies— how should they be addressing first who they are and how they're approaching this, let alone the mechanics of going through— you know, those strategic steps. What do they need to do in order to get their head on right and in order to get into a place where they can start leveraging the strategies and the support that you're providing them?
Well, the concepts are fairly simple, but then they really come from there. Take a deep breath and look in the mirror. That's where the starting point is. You really have to take a deep breath and say, okay, this is terrible. This is terrible for many different reasons. I might be luckier and more fortunate than most. I might not be, but there's going to be a day, and obviously with the news, some of it coming faster than others, that I'll be able to open my door. So I'm hoping that businesses spent this time assessing who they are and looking at how they operate. It's very hard sometimes when things are in motion to try to make changes and think about changes. But things haven't been in motion. So this was a good thing to say, well, am I operating this way? Am I communicating with our customers in the right way that they want to be communicated with? So it's a— so there's a flow of communication. Am I marketing myself the right way? How is my HR department running? These are key factors that a lot of businesses never thought about in the first place because they have a skill and they decide, I'm gonna open up a business, whether it was, I don't wanna work for this person anymore, I'm a better plumber, for example, or things kind of fell into that. A lot of people just hit the ground running instead of having that plan to operate, and now 3, 4 years later, something like this happens and there has not been a plan of operation. How do you kind of put something in place now?
Yeah, absolutely. I mean, and that is the beauty. We always have to find the silver lining in all, on, in all challenges, in all situations. But I'll tell you what, if this isn't the time that everybody has the opportunity to hit that reset button and get with someone like you and really think through, you know, okay, yes, this is how I operate, you know, for the last number of years, but this is what I need to do now, and get those plans in place proactively, that is a beautiful, beautiful thing. So you would hope that everybody's taking advantage of it, right? And reaching out to you.
Would hope, yes.
Yeah, exactly.
Reaching out to me or just asking questions. I think in general, people are afraid to ask for help and keep on moving forward. There's some that are smart enough or hire the right people to share with them, we need to bring in XYZ type of company to help us. But most are just afraid to, whether it's a fear of cost, whether it's a fear of, of losing control. There's a number of reasons why they wouldn't do it. But now you really need to ask questions and find the right resources to help you because nobody knows how to come out of a pandemic. You go back to 100 years and it was a whole different world at that time.
Absolutely. Well, and I think too, and are you seeing that people are very proud? You know, they hold on to a lot of pride about where they've gotten to. And now all of a sudden they're finding themselves, you know, in a completely different space that whether they're 30, 50, let alone 65 or 75, they never expected to be here. And their pride is also getting in their way of asking for help. Have you found that?
Pride is a very big challenge in, in daily life, but specifically now. And, and I do see— I see some good activity in groups I'm in in Facebook of people starting to ask questions. I don't really see a lot of people asking for the help that they need to. And I know I've been going out of my way to try to offer, ask me a question, I'm not charging you, just let me answer questions for you, 'cause that's really what everyone should be doing now. It's similar to being able to hand out that food or that mask to somebody. Everyone needs different types of help right now.
Right, well, and we need to get people to swallow their pride. I mean, everyone's in the same boat, and that's the beautiful thing of this weird situation, is we're all going through it, this. And yes, we're not going through it in the same way, we got to put that out there, but at the same time, we all need to ask, you know, the questions that we have, the help that we need, so forth and so on. Lovely. I love that. I love that. All right, so what should businesses expect, you know, as they're trying to get back to normal, or their new normal? What, what should they actually, like, you know, be considering?
It's It's an interesting question because there's so many different expectations that you have and everything is going to be different when you walk in and open that door for the first time and flip on the light and try to flip over that sign. There are a lot of people who will just do that and sit back and say, okay, come, come back at me, come back customers, and it's not gonna be like that because one, there's still people who are gonna be afraid to come out no matter what any governor says, that people have the— make their own decision on when they feel comfortable in going into public spaces. So if you have a storefront type of business and people coming in, there are challenges. If you're a restaurant, I'm seeing, at least here in Jacksonville, I know 25% capacity is the maximum. How do you address that? And again, how do you address that budget-wise? Because that's not how you're built, to be 25%. So you need the strategies for the continued takeout and other pieces like that. But other businesses who don't have that, you have a full office of people, how are you handling those things? There's a lot of different details there that have to be addressed and you really have to— experts are the ones to follow, the CDC and those type of people, not a marketing strategist to give you those answers. But When it comes to actually operating the business itself and what you need to get your message out there, that's where I have a checklist of 10 strategies to really put into place to really help you get moving and get earning over the course of the next rest of 2020.
Absolutely, absolutely. And since you mentioned your strategies, I want to make sure I get to Okay, yes, I want to make sure you all have— is it your free download of the top 10 things your business should be doing now?
Correct.
Okay, so I want to mention to everyone postcovid19economy.com. That's a great— that's a great .com to have got.
I was surprised that was available.
That I— that I would be too, but that's awesome. So postcovid19economy.com. Go there for this checklist that he's talking about. As well as I want to make sure I mention too, you know, Profit Master Business Solutions is his Facebook page. And like he said, he's offering opportunities for you to ask questions of an expert and get some support and advice and tips that you need. So also look him up on Facebook, ProfitMasterBusinessSolutions.com. I want to go back to something that you said and ask you for your thoughts as to how you address it. You had mentioned when we were talking about kind of the fears that people are feeling, you know, and they're worried about the costs of even engaging— well, let's say they are afraid of the cost of even trying to implement some of these requirements that businesses now have in order to be able to reopen. At the same time, they're concerned about investing in someone like yourself. You know, and I always look at it as an investment, not as a cost. So how do you help them to overcome even that hurdle? Because, you know, I have a philosophy: you have to spend money to make money. But not everybody has that philosophy. So what's your thoughts on that?
I mean, you have to spend strategically. And my answer would have been different in January because there's definitely investments. If there's any business that does not have a budget line for marketing, then again, here's someone, the company that's just run into business without really having a plan. But now again, revenues have been cut off and there's dollar challenges. So you have to be strategic in doing it. So there are strategies that really don't cost anything. And there are strategies that cost a little bit, and that little bit of an investment can really go a long way. And so you have to be smart about how you're spending.
Yeah, yeah, absolutely. So walk us through some strategies that could help new companies, you know, now and forward in navigating this new world that we're all experiencing.
Sure. Well, basically, your experience with working with customers is you're trying to answer questions in their head and satisfy what their needs are. And the questions really are, there's a problem that they have that they don't want, and there's a result they want they don't have. If you're able to answer that, then you are really building that relationship with this customer and hopefully for a long period of time. So creating a market dominating message of who you are, what you are, how you do it, what makes you the best, this is really broader than a slogan. This is really your corporate message, and a slogan can be incorporated into it, but having that message so they know who you are is important because the scary thing about what's going to happen is you may open the door and your industry may have changed. There may be 5 big players in the industry and number 2 went out of business, and so that's going to change everything. However, the dollars that the customers have to spend might be a lot smaller. So that pie is going to change.
Right.
So you need to make sure you have your best foot forward so that people have that. And then expanding in that, and then when you are communicating yourself, you really need to update your elevator pitch. So again, that statement of what you do, how you're an agent of this company, whether you're the owner or an employee, and, and what is going to captivate someone to want to continue the conversation and hopefully set up a meeting with you. So very quickly, you want to change those. And both of those, again, these could be $0 items, or obviously hiring someone to assist you with this can really make the difference. And these aren't top-dollar spends here at this point, right?
Right.
So those are really the two to start, but really now that you're grand opening, you actually, you want to look at it as a grand opening, not just the doors are open and the governor said yes. Make it a grand opening. You may want— here's where this could be some spend on advertising, say, "I'm reopened for business," or really invest time and your network on social media to get that message out as well. So celebrate the fact that you're open and not just, it's not just another day on the calendar and you flipped open that that open sign.
Sure, absolutely. Well, because I don't know if you use Nextdoor.com at all, but I do, and what our neighbors are all asking each other is, oh, so what businesses are open? What businesses aren't open? And, you know, so there's constant communication in regards to that, which means, to your point, that the business that you might be working with is not getting that message out. It's not, you know, there is they're using a wrong channel because if, you know, if their community doesn't know that they're open, then they need to do something differently. That's basically what you're saying.
Very, very true. And then really, just again, with that community, you have to assess how you've related to that community, whether it's in communication, how your emails have been, are you doing texting, are you getting information out to people? Because you can't rely just on a Facebook page. Because the algorithm won't allow everyone to see what you're posting on there.
Right.
So it's not just a communication, and now you got to prepare yourself of how you're going to relate to them moving forward. You want to figure out how to deliver massive value.
Yeah.
So you provide, you sell X, and all you've been doing is providing X, and they've been paying for X. Well, you need to add something more to that, some sort of additional benefit to show how much you care that they came back to you. And it could be something big, it could be something small, it could be something you do in partnership with other businesses. A restaurant needs to make sure people are coming and they've given you coupons to provide to bring people into that restaurant. Giving a coupon that was saying go to the Italian restaurant in the same shopping area is greater value than what you're providing beforehand.
Right.
Other concepts that you can provide to that, again, This is something that really won't cost you anything to better your business moving forward.
Yeah, absolutely, absolutely. And I know if it is a brick and mortar versus all these people who have like moved their businesses online and may even stay there online, you know, the brick and mortars, I know for myself, and again, a lot of chatter out on Facebook and Nextdoor and whatnot, is you also need to demonstrate that you are protecting those those customers that they do feel safe and they, you know, not paranoid, but just that you are putting the measures in place. Are you seeing businesses doing that and really focusing on that?
There's been conversation about it. I haven't seen much implemented yet because many haven't had the opportunity. The only thing that stands out in my mind right now are the supermarkets where you've seen the evolution of chaos with masks, not masks, and people walking around, to partitions being put up so that the staff is blocked when people are checking out and they're close there, being allowed to wear masks. I go to Publix. They weren't allowed to wear masks and gloves for a while. Just for the visual of it. And then putting down, they put down tape arrows so it was one way, and then they made signs and they were on the ground. And so now every aisle is one way. The supermarkets handled things well, but it was a very slow process in getting it handled and then them sharing information so that everyone can do it. But it is a good lesson for stores. I'm visualizing a very small bakery in my neighborhood that has to come up with a situation where they're marking things off outside so that the line may have to extend outside so that everyone should be inside to do it and put markings on your floor. And you can get very fun and creative.
Oh yeah.
Trader Joe's here has song titles connected to the thought of waiting online and social distancing written in chalk. And because there's a physical awning, the rain hasn't affected it. And they've changed them up a little bit, but at least you're standing there and there's something fun to think about before you walk into the store.
Absolutely. Well, because we had one very popular pizza chain here. It's local to Atlanta, and they actually had a— they actually chose to shut down because their customers weren't adhering to the policies they were trying to put into place, which really stinks because now both people like lose out, right? The customers, had they just simply followed some guidelines that, you know, that the business that they want to patron, you know, puts into place, and yet they didn't. And so they decided, you know what, it's not worth it. Our health is more important and we're gonna have to shut down. So, you know, yeah, it's a big adjustment for everybody, but they just have to be smart about it. And if they want the business, they have to put those things in place, right?
Exactly. It's gonna be important that you are respecting the need for social distancing because the fact that people were home, and you can see by the number in some of the states, the numbers are going down because people have separated and those that have it have been getting the care and not sharing with anybody. But this could— there are people who are asymptomatic that have no idea that they have it. And it's a— the incubation period— I don't want to get too medical at the moment— has been incorrect, where they keep saying 14 days and it's more— it really needs to be 21 days because unfortunately my brother-in-law got it on the 15th day. His symptoms flared up on the 15th day as he was getting out of quarantine. So it's— you don't know, and you're not gonna know for a while. Everyone has to still be very careful.
Right, right. Well, I'm in a state that opened up last Friday, and part of it opened up on Monday, and all of it's opening up tomorrow. So yes, I'm—
we're just watching Georgia. Yes.
Yeah, yeah, lucky us. I've always wanted exposure to Atlanta and Georgia, but not this kind of exposure. Exposure. Let me see. All right, so obviously, because you're very much like me, you know, we see the positive, we see the upside. What does your light at the end of the tunnel look like for everyone? Like, what, you know, what can businesses really kind of be positive about as we move forward?
Positive, I would say there's the opportunity for things to get better and the things to start over. Everyone gets that chance. Other than that, you have to, you kind of have to create the cart to get to the light at the end of the tunnel. Anyone who just sits back and really does nothing or tries to do things the same, it's going to be a slow path or might be a path that just stops. You're gonna have to figure out how to get and nurture your prospects and customers and not just assume they're coming to you. And some of that is, again, a lot of that is hands-on in the locations, and a part of it is digital. I know in the intro I had given you a note to mention that digital brochures as websites are really, they're in the past at this point, and everyone still has them, and some, some of them are prettier than most, and some have websites that are 5 years old and older and think, oh, that's okay, I have a website, everything's fine. But you need to be pulling out leads from it. It has to be generating leads for you to do anything. If someone comes to your website, is there for 30 seconds and leaves, you have no way of getting in contact with them to follow up. So creating a, first of all, changing your website so that people are stopping and paying attention. A headline on the website to get people's attention. If you're in their head and know what their pain points are and what they're looking for, that headline should speak to them. And a subheadline that follows up with that, that now has them thinking, and once you have them thinking, they're going to pause and stay on your website because they're not going to jump to someone else's if you caught their attention. They're not gonna jump to the next, and I always use plumber as an example, they're not gonna go to the next plumber after plumber after plumber, you're speaking their language at the moment and that's the opportunity to provide them with an offer and really pitch them this offer, but the offer really doesn't have to be specifically your services, it needs to be some sort of lead magnet that shows the amazing information you can provide. —I have a child psychologist who's given specific examples of how to stop the screaming in the house with the fight you're having back and forth with your child, and they may never do business with this person, but at least here's tips to get them started, and in trade, he got their email address to start a conversation and really create, when the next part of the checklist, campaign of multiple emails and multiple touches because you need to follow up with prospects many, many times for them to choose to do business with you. It's not a 1 or 2 phone call type of situation. It might be 8 times, it might be 10 times. You have to monitor it so you're doing it the right way and it's not, you know, you don't wanna harass anybody, but you wanna politely provide them with information so that it's helping them make their decision because people mostly are on a journey when they're online. They're not now buyers trying to buy something. This is why I love the plumber example. If a pipe bursts in your house and water is running all over the place, you're gonna call that first plumber that you can find a phone number to, whoever answers the phone first, you are a now buyer and they're coming to your house to fix your plumbing. If you're redoing your house and you need to redo the pipes as part of the process, you're gonna contact a few of them and get prices and quotes and you're doing your due diligence before you make a decision to buy.
That's a great analogy. That is a great way of looking at that. Absolutely. And I quite honestly, not that I understand the concept and I've always understood it, but that difference between an immediate need and then a kind of a bigger, a bigger need and the evaluation one would do before they make a decision.
That's exactly— yeah, that's great. Goes through every industry. Like if you want pizza, You're going to jump, unless there's some crazy offer that's in your head, you're gonna, 3 pieces for a dollar, which doesn't happen, that you're gonna jump on and do the order. But you're gonna click on the different ones and see who has the better price and everything, unless something grabs your attention to stay at that website to order online.
Right, yep, absolutely, absolutely. So what's one big tip, or what's like the most important thing you would want someone listening right now when it comes to considering what they need to be doing to, to handle the post-COVID economy? What would you say to them?
I would say analyze your pricing strategies. People are going to have less money, and some may not because some of the— some things have worked out very well that people still may have had their salaries. I know there's of this— I think it's 30 million people applying for unemployment. Some of them are still getting paid, it's just part of this process. Some of them are not, and hopefully some will be able to come back to work in the next, uh, 7 to 30 days. So they're going to value their money and they want to spend it wisely. And if you have the right type of pricing strategy, you could actually do much better in this situation. So if you are If you look at McDonald's, that's a great example. McDonald's is a great example of upselling and cross-selling. So if you go there for your burger and you order a soda and they'll ask you if you want to supersize that, that's upselling. So instead of spending 70 cents on the soda, you spent $1.30 on the soda. That was additional money in their cash register. Cross-selling, if you want to buy the burger and you want fries with that, There's cross-selling, and that's 34% of the time when people are actually made an offer like that, they take it. So if you can figure out ways to upsell and cross-sell in your business, and you can create different ways to create revenue at the cash register that, that the customer didn't think they were going to be spending when they walked up to it, and it's all part of the evaluation of where they're getting value. They want to find the best value possible. And even something as in a downselling strategy, if you have product A that costs $100, but B is similar but not as good at $70, people may buy that $70. If they say no to the $100, they may say yes to the $70. You have a customer instead of someone walking out paying you nothing because they said no to the $100 item. Sure.
And you're not necessarily talking about that everyone needs to be slashing their prices because of of the economy and the situation out there.
What are your thoughts on that? You definitely know what you definitely don't want to slash prices and definitely don't want to discount. You have to be very careful with discounting. Sometimes it's a, it's a, it's a good promotion, but the rarest of occasions, because all, all discounting does is it kills your profit margin. So sometimes if you, if you give a 10% discount, you may have to sell 50% more of an item just to break even on the process. And 10% doesn't really excite people. 30 to 40% does. And then you don't have a profit margin. You're actually giving the item away. Right, right. So coming up with—
and too, it devalues their brand, doesn't it?
It incredibly devalues the brand. Incredibly. So coming up with strategies to bundle things together, you may actually be able to get people to spend more on 2 items than they would on the one item. They're not going at— it's not an apples-to-apples comparison between them. The next store that has it, you're creating value, and people want value more than they worry about price. And that's going to extend through this post-COVID-19 economy as well.
Absolutely, absolutely, absolutely, absolutely. Love it, love it, love it. Now I want to remind everyone of a couple things, okay? I want you to go and get his free checklist. Remember those 10 things that you should be doing? 10 Things Your Business Should Be Doing Now to Prepare for the Post-COVID-19 Economy. Go to the best— the best website URL I've ever heard, www.postcovid19economy.com. How simple is that? postcovid19economy.com, and you'll get Howard's 10 things to do in your business in order to be prepared for the post-COVID-19 economy. I also want to mention his website, findnewrevenue.com. You could tell you're a marketer. Yeah, great, you have great, you have great branding. Findnewrevenue.com, go there, check out everything, check out how he could serve you and help you and really, you know, allow you to thrive not only today, tomorrow, but in the future. And then also be sure to follow him on Facebook. And again, I think one of the things I'm going to take away from this is what he talked about in regards to ask for help. He's offering to answer your questions and give you some advice, and he's not— it's not like he's putting out his hand to you. So go to his Facebook page, Profit Master Business Solutions, and follow him and ask those questions. It's critical. It's critical, and it's only going to serve you and your family well by getting the support and the help that you need. Thank you, Howard. I so appreciate you being part of, of our community, and this was an awesome conversation.
I thank you very much. I really enjoyed it, and I really hope this helps everyone.
Oh, it absolutely— oh, it absolutely will. So everyone, check it out, the 10 things that you could be doing to help your business. At postcovid19economy.com, as well findnewrevenue.com, and his Facebook page Profit Master Business Solutions. Howard Wolfoff, everyone. So to close out this session, I want to thank everyone for being here, and I'll look forward to having you for our next Shedding the Bitch radio episode. Take care, everybody. Thanks, Howard.
Thank you.
Thank you for listening to Shedding the Bitch Radio with Bernadette Boas. Join Bernadette every Tuesday at noon Eastern as she helps you shift your bitches to riches. And the dialogue is always going on at sheddingthebitch.com. See you next week.
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