In this episode of the Lazy Wealth Creators podcast, Carl shares valuable insights on both saving and making money, all while embracing a touch of old-school charm. The episode kicks off with a practical tip about keeping a coin jar, highlighting the recent resurgence of cash usage and the importance of having physical currency on hand for emergencies. Carl suggests innovative pricing strategies that encourage customers to leave behind small change, using relatable examples from cafes and window cleaning services.

KEY TAKEAWAYS

• Keep a Coin Jar: Maintaining a coin jar can be a practical way to save cash for emergencies, especially as some stores may not accept digital payments. It can also accumulate a surprising amount of money over time.
• Cash Payment Advantages: With a recent uptick in cash usage, having physical cash on hand can be beneficial, particularly when electronic payment systems fail in stores.
• Pricing Strategy: When pricing products or services, consider setting prices that encourage customers to leave behind small change. This can create a perception of value while also benefiting the seller.
• Upselling Techniques: Use upselling strategies by suggesting complementary products to customers. For example, if someone buys a mug, recommend a hat to complete their purchase.

BEST MOMENTS

"Keep yourselves a coin jar. Now I know what you're going to say. This is why it's old school. Well, everything's digital now, but recently cash has seen a bit of an upsurge."

"When it comes to pricing your products... structure your pricing in such a way where it looks like really good value, but it's also a massive inconvenience to the consumer to wait for change."

"He's charging me nine pound, which is undercutting his competition by two pound 50. But then actually when he comes to collect, he's taken that extra pound off me anyway."

"You can always try and do the complete purchase to upsell. In another episode I mentioned about selling hats in the cold."

VALUABLE RESOURCES

HOST BIO
Meet Carl Mannion, the warts-and-all host of the "Lazy Wealth Creation Podcast." From a council estate to self-made millionaire, Carl's journey is both humorous and inspiring. Despite describing himself early on as "autistic, poor, and hungry," he now proudly identifies as "autistic, doing-well, dadbod."

Through candid interviews, Carl shares the highs and lows of his journey, offering invaluable insights into overcoming adversity and seizing opportunities in the world of wealth creation. Despite facing challenges like a marriage breakdown and single parenthood, Carl persevered, achieving millionaire status in his 40s.

Join Carl on the "Lazy Wealth Creation Podcast" for practical advice and entrepreneurial wisdom. Whether you're starting from scratch or aiming for greater heights, Carl's relatable story and guidance will inspire you on your journey to financial freedom.