Stacy Tuschl is a Small Business Growth Coach, Best-Selling Author, and the creator of Foot Traffic Podcast & Community where she helps small business owners grow their local business Stacy started her first business at the age of 18 in her parents’ backyard and turned that company into a seven-figure business she still runs today. She is a mom of 2 little girls and married to her husband Kent.
In this episode, Stacy talks about how her faith influences her company values and the way that she runs her businesses.
She’s giving five actionable tips for growing your business from what she’s learned as she’s grown her dance studio, and her coaching and consulting businesses.
Stacy’s five actionable tips are:
- Build anticipation – something good is coming. Following the example of Amazon Prime Day and Nordstrom’s Anniversary Sale and build that anticpation of the sale coming. We as small business owners don’t follow the example of the big companies enough in this area. They have advertisements and buzz growing in advance.
- Sense of urgency – a reason to buy right now. Have a cut off time to have someone buy for a short amount of time. People have a short attention span. Use something like today only. People will not come back to the email or to watch something else.
- Scarcity – hurry before this runs out. You can do this with time or with the number of people who you will allow in at that price or offering. Give them a reason to buy right now so they don’t forget about you.
- Giving customers royal treatment – reward current clients. So many people will do a sale for new clients. How can you give a promotion for current clients and new clients. Figure out how you can love on your current clients. It increases their lifetime value and then they will also tell their friends. Starting out with lower expectations and then exceed those expectations. Don’t put everything out there at the beginning so you can keep wowing them.
- Name your promotion or event – give someone a name to share. It feels like it’s another level or scale. If we want people to share, don’t make them come up with something themselves, give them something to share. You can create a hashtag for this too.
- Make a typical, everyday name people can remember (simplicity is key). Look at the people who are crushing it and follow their example. Have them hear the name and want what that is. Don’t lose people because they have no idea what it is you’re talking about. Look at businesses outside of their industry.
Another way to grow your business is to add a team member and outsource. Adding someone to your team – give people an opportunity for growth. The more you allow others to take things on, the more you’ll love what you’re doing. At minimum, everyone needs to have one person on their team.
- If you don’t have the money, you need to get smart from where the money will come, you might need to cut expenses, sell things around your house, or work extra.
- There’s also a mindset of getting resourceful to either find extra money or extra time.
Money mindset has been the place where Stacy’s grown the most. Others are dreaming a lot bigger and when she’s around people who want to uplevel and have upleveled, and where she wants to grow more.
Biblical abundance – God is not a God of lack or scarcity. He’s a God of abundance.
There’s room for everyone in an area. When you look at successful people, they don’t have a lack mindset, they see the abundance.
Follow along with Stacy and learn more from her Foot Traffic Formula website or Instagram.