In this episode of the Let's Talk Horse Business podcast, George dives into the three biggest mistakes equestrian businesses commonly make and offers practical advice on how to avoid them. He emphasises the importance of developing a solid pricing strategy, highlighting the need to understand competitors and differentiate offerings to ensure profitability. George also critiques the over-reliance on word-of-mouth marketing, urging listeners to embrace digital platforms and social media to expand their reach. Finally, he addresses the critical issue of valuing time and preventing burnout, encouraging business owners to consider building a supportive team as they scale. Tune in for valuable insights that can help equestrian entrepreneurs thrive in a rapidly changing industry. KEY TAKEAWAYS Poor Pricing Strategies: Many equestrian businesses fail to establish effective pricing strategies before launching. It's crucial to research competitors and understand market dynamics to set appropriate prices that reflect the value of the services offered. Overreliance on Word of Mouth: While word of mouth can be beneficial, it should not be the sole marketing strategy. Embracing digital marketing, social media, and online platforms can significantly enhance visibility and attract new clients. Valuing Time and Avoiding Burnout: Business owners often undervalue their time, leading to burnout. It's essential to price services adequately to reflect the true value of time spent and to consider building a team to share the workload. Adopting Digital Solutions: The equestrian industry is lagging in adopting digital tools and platforms. Utilizing online booking systems and social media can streamline operations and improve customer engagement. Mindset Shift: Business owners need to reframe their mindset from working for others to working for themselves. Recognizing the importance of their time and contributions is vital for long-term success and fulfillment in their business endeavors. Socials https://www.instagram.com/gbetson/ www.tiktok.com/@georgebetson About the Host George Betson is a seasoned business entrepreneur with over a decade of experience, driven by a passion for both strategic business growth and the equine world. Starting his journey as a business graduate, George worked alongside his late father to run the family business, learning firsthand the value of hard work, resilience, and the essentials of building a successful enterprise.