As business owners, we are always thinking about more: How can we find more clients? How can we give our clients more than our competitors do? And of course, how can we bring in more money? One way to offer more is to bundle your offerings. But what if bundling doesn’t always make sense for everyone […]
Pricing
Determining a Pricing Strategy for Your Startup
One of the most often overlooked tasks of any startup is developing a viable and effective pricing strategy. Whether your business provides products or services, the price you charge for those can make or break your bottom line. There are a number of considerations you should take into account when determining a pricing strategy for […]
10 Top Revenue Models Drive Viable Businesses Today
I was mentoring some graduate students at a local university recently, and I sensed again that profit seems to be a dirty word these days to many aspiring entrepreneurs. I’m certainly not a fan of customer rip-offs, but even non-profits have to be cash-flow positive, or have deep pockets, to help anyone for long. Every […]
3 Basic Recipes to Improve Your Restaurant Without Breaking the Bank
Running a restaurant business is by no means an easy task. The food and beverage industry is not only rife with heavy competition, but requires a substantial investment of both time and money as well. For a dining establishment to survive, setting yourself apart in the market is only half the battle. In order to […]
What Does Your Pricing Say About You?
Last week, we explored some of the key considerations that a business should take into account as they set their prices. But this week, I want to take a look at what your pricing strategy says about your offerings. I believe that pricing is a part of positioning and branding that is often overlooked. How […]
How Does Your Business Shape Your Pricing?
As we head towards the end of the year, we’re going to kick off a series of conversations about money. One of the most overlooked aspects of marketing is your pricing strategy. Over the next couple weeks, we’re going to talk about how you price and sell your services and what that says to your […]
How to Increase Profits by Pricing Your Product Right
The most experienced entrepreneurs know that price is the dominant factor driving profit. While profits can be increased via a number of ways, raising prices is the simplest method that yields the biggest result. A mere 1 percent change in price can generate double digits change in net profit percentages. In a study published by […]
Why the First $1,000 is the Hardest
You’re not getting paid what you’re worth. You feel under-appreciated, and no one takes you seriously. Your income comes in fits and starts, if at all… and it never adds up to enough. Here you are, trying to get your business off the ground, and it’s such a struggle that you’re almost tempted to throw […]
SaaS Marketing: The Power of Free
Phil Libin, CEO of Evernote said it best: ““The easiest way to get 1 million people paying is to get 1 billion people using.” And what’s the quickest way to get people to use something? Offer it for free. Let’s face it, we’re all fans of “the free”. From essential to material needs, and yes, even when […]
Why It Is Crucial That Business Owners Understand Financial Markets
It is estimated that a staggering 96% of businesses fail in the first 10 years, and this has much to do with the complexities and demands of maintaining commercial growth. With entrepreneurs often focused on the internal components of their business, it is easy to see why so many lose sight of the macroeconomic and […]
