Growth Builders: Increase your Profitability through Productivity Gains & Pricing Strategies

Host: East Midlands Chamber

Cost: Free

The High Growth Academy is an exciting programme of events, workshops and forums, brought to you by East Midlands Chamber in collaboration with Nottingham Trent University, University of Derby and University of Nottingham. It is aimed at businesses in the EMCCA region.

This workshop will provide valuable insights and practical strategies that you can use to enhance your business performance and profitability.

The session will cover a range of topics related to productivity, including case studies of large businesses like Costa Coffee and SMEs, why measuring productivity is important, leadership and communication challenges around change implementation, productivity and its link to business innovation and entering new markets, and staff capability analysis and role studies.

In addition, the session will cover pricing strategies that can help you increase your prices without upsetting your customers. It is a common misconception that an increase in profit can only come from making more sales.

What’s covered:

Large Business Case Study – Costa Coffee
SME Case study
Why measuring productivity is important, why might we be afraid/what are the barriers to measuring it?
Leadership and communication challenges
How to analyse your staff capabilities and carry out a role study
Setting KPIs
The pitfalls of commonly used pricing methods
How a 1% increase in price can yield a 10% increase in net profits
50 pricing strategies & tactics – which one is right for your business?
The psychology of pricing and how it can help increase your prices
How to communicate a change of price to your customers
Panel Discussion followed by Q&A and networking lunch

What outcomes will be achieved?

This workshop will challenge thinking, and demonstrate how identifying the right pricing strategy can deliver highly impressive ROI for your business. You will learn about the pitfalls of commonly used pricing methods, how a 1% increase in price can yield a 10% increase in net profits, 50 pricing strategies & tactics, the psychology of pricing, and how to communicate a change of price to your customers.

There will also be a Q&A at the end where you can raise your own pricing issues and get answers to help you with your pricing challenges.

Who should attend?

This workshop is aimed at business owners, CEOs, MDs, senior managers or strategic leaders, from early-stage scaling businesses (typically < 25 employees), focused on building strong foundations across sales, strategy, innovation, accessing new markets and leadership.

Speaker Profiles

Simon Headaux, Director, ReThink Productivity

Simon’s practical know-how and hard headed entrepreneurial approach to business brings a unique perspective to optimising operating costs.
Combining over 50 years of cumulative experience working for some of the largest brands in many industries and sectors, such as Vodafone, Boots, Siemens and Costa Coffee, ReThink understand how businesses can boost their productivity. They are a full service, productivity consultancy that help businesses implement changes in their business and produce productivity roadmaps and associated project plans, including workload models, role studies and organisational design, time and motion studies, efficiency reviews and benchmarking.

Mark Peacock, Director, Price Maker Ltd

After a 25-year career in the corporate world, in positions that include Head of AA & BSM Driving Schools and Chair of the Pricing Steering Committee at DHL Express, pricing had always played an important part Mark’s previous roles, and he knew how much of an impact it could have on any business. Mark spotted there was a gap in the market for pricing advice for SMEs, and founded PriceMaker to deliver on that vision of helping SMEs become price makers, rather price takers. By using smarter pricing, they help businesses differentiate themselves from the competition, and achieve better prices in a way that their customers will value. Their vision is to inspire and transform businesses to become more successful by using the power of pricing to maximise profits.

Eligibility:

This workshop is open to eligible high growth businesses located in Derby, Derbyshire, Nottingham and Nottinghamshire that can demonstrate 20% annual growth in revenue, employment, or market share over the past three consecutive years. You must be registered on the High Growth Accelerator project.

Receipt of this support is subject to the Subsidy Control Act (2022). To qualify an enterprise cannot have received more than £315,000 Minimal Financial Assistance (MFA) and or De Minimis within any three-year period.

View all High Growth events

The project is funded by the UK Government through the UK Shared Prosperity Fund.