Crafting Success in Competitive Landscapes

The Playbook With David Meltzer

David Meltzer, Entrepreneur.com

Entrepreneurship, Business, Careers

4.6 • 1.9K Ratings

🗓️ 11 March 2024

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today's episode, I tackle a wide range of questions from an exciting group of athletes, celebrities, and up-and-coming entrepreneurs. We dive into how to grow your business when the economy keeps changing, look closely at how to set your prices, and discuss how market trends can affect your plans to expand. I highlight the importance of figuring out your costs and the value you bring, stressing the need for a good look at the market and strong confidence in your pricing. Through these conversations, we offer practical advice and insights to help you grow and succeed in the business world, making complex ideas easier to understand. To join future Free Friday Training sessions, register at: https://free.dmeltzer.com/friday-training-1 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	This is Entrepreneurs the Playbook, where each week I bring you some of the greatest athletes, celebrities, and entrepreneurs to talk about their personal and professional playbook to success.
0:12.0	G. Lundy, what do you got?
0:14.0	Oh my gosh, on the spot just like that.
0:18.0	I've got the benefit of Dave Melter
0:20.5	being one of my best friends on the planet to ask. That's for sure. Don't forget it,
0:25.2	D. Lundy, I am always here. I love you. I'm proud of you and I always have your back, my brother.
0:30.6	I know that, Brellan. Same to you, man man I love you so so so much a question for you
0:36.8	this morning when you are building business, right?
0:44.0	You're, you're, you're, maybe you have a career and you're starting a new business or you have a business and you're starting to expand on a little bit.
0:52.0	When it comes to pricing, right, pricing of your products
0:58.0	and the variety of your products,
1:00.0	how much does the outside economy tend to affect that for you? Do you adjust with economic
1:09.2	adjustments or how do you make those determinations on when the market is affecting or is it not ever affecting what you're trying to build in scale?
1:22.0	Great question.
1:24.0	First, I want to let everyone know there's two prices that you have to be concerned with.
1:28.0	Whenever you have a product, a service solution, or a brand,
1:31.0	determine upon what you're trying to share, and I say that word
1:36.2	share because we're trying to share value. And so the first thing that you want to
1:41.5	do is you want to determine the bottom line
1:46.0	bottom line is math and the bottom line is impacted by the supply and demand it's impacted by the supply and demand.
1:53.2	It's impacted by the economy, politics.
1:58.6	It's impacted by a variety of different things
	...

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