When Profits Collapse, Don’t Turn to Discounting

I've been in the business world for over 40 years and I've lost count of the number of times that discounting has exacerbated a sales decline it was intended to avert. Conversely, I've seen sale declines turn around with amazing alacrity through more focused, value-oriented marketing messages.

A Sane Approach to Pricing for Someone New to Freelance

How do you handle pricing when you're a freelancer? What type of freelance business are we talking about? It really doesn't matter. The situation is similar for bookkeeping, web design, programming and any number of other service businesses that can be handled by a solo practitioner.

Create a Ten Percent Profit Model

Most entrepreneurs, when starting to model their business operations using a spreadsheet, start with expected revenue by month. Then they calculate cost of sales, and then project their expenses, to find the bottom line profit or loss each projected month.

Don’t Let Your Beliefs Limit Your Pricing

As a business owner, you want your prices to be fair to both you and your customer. But your price should also reflect the value that your customers are getting. Don't limit your pricing based on your fears of what customers will think. If you're still offering value, then you'll find the customers you need.

How to Effectively Use Price Comparison Sites to Increase Sales

If you are an e-commerce entrepreneur, you already know (or are experiencing) how difficult it is to get the eyeballs of customers. In a...

Using Barter to Boost Sales

Businesses can utilize barter to boost sales production. It's easy, it's smart and it works like a charm. In its simplest form, bartering involves an equal trade. One business swaps a good or service for another.

Pricing Strategy Guide: Service Businesses

Developing a pricing strategy may not be a science, but sometimes it can feel about as difficult as performing brain surgery or engineering rocket ships!...

Why You Should Consider Giving Your Product Away for Free

In June, my company Testive announced that we were dropping the pay wall on our online SAT and ACT prep products. No limits. No locked content. No ads. Don't be confused—we did this to grow our business, not shrink it. So far it's working—we've had record sales every month since then. Here's what we learned.

9 Great Paths to Recurring Revenue for Your Startup

Every new business quickly realizes that revenue coming in every period on a committed basis is the Holy Grail to survival and growth. According...

Profitability Per Product

I was dealing with a firm that was having problems with its profitability. Profitability had fallen over time, and management just did not know...

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