Here is good advice on stepping out of the day to day emergencies so you can focus on growing your business. As Your Company Grows, You Need to Stop Constantly Dealing With Day-to-Day Fires https://www.entrepreneur.com/article/315231 ...
A lot of business owners and budding entrepreneurs ask me why they should have a business plan. They complain that the bank wants one to get a loan and doing one is a lot of work. Of course, for a new business, a business plan...
[caption id="attachment_8958" align="alignright" width="300"] Business Strategy Creates Value[/caption] A business strategy is the winning formula that will make your business successful. The successful execution of the strategy creates a valuable product or service and the means to deliver it. It is the most fundamental element of...
Please take a look at an article about the work I did with Oakley Home Access to build their success. For Oakley, I developed a marketing plan, recommended branding changes, developed job descriptions and made a Customer Relationship Management (CRM) recommendation. In addition, I identified...
I believe that the most powerful and constructive use of pricing is to use pricing to drive customer behaviors into patterns that drive profitability forward. In order to do this you need to understand what customer patterns will achieve this result. To figure this out,...
Over discounting costs small businesses money every day. It’s a bad practice. Over discounting comes in two flavors. The first is when a company offer discounts so frequently that customers don’t want to buy without a discount. The second occurs when discounts are offered when they...
[caption id="attachment_8942" align="alignright" width="300"] A Product With High Perceived Value[/caption] Mistake # 2 – You price based on what you need to make a profit It may seem that figuring out how much to charge so that you make a profit and then pricing accordingly is a...
One of the biggest mistakes small companies make is not raising prices every year or two. First of all, your costs are typically going up and you need to raise prices to get that money back. Otherwise your margins will fall and unless your sales...
[caption id="attachment_8934" align="alignright" width="300"] Pricing Strategy[/caption] Myth #1 – You need to price at or below your competitors. Especially for small companies, you need to differentiate your company and its products and price based on perceived value. Let’s face it, you will never be the low cost...
I am presenting on the topic of small business pricing strategies this Thursday evening 4/26/18 at the Newport Interactive Marketers meeting at The Parlor Restaurant, 200 Broadway, Newport RI 02840. Networking begins at 6:00 and my talk at 7:00. All are welcome. Hope to see...
