Posts Tagged ‘Pricing’
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…
Read MoreWhy 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…
Read MoreSaaS 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…
Read MoreWhy 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…
Read MoreMake Yourself Discount-Proof
Are you often asked to discount your fee or price? Typically, when a prospective customer or client balks at your price, it’s because they believe that the value of your offering is less than what they are being asked to pay. But, not always. There IS another reason. It’s this… They subscribe to the theory…
Read MoreWho Ever Heard of Bad Loyalty?
Did you ever imagine that there could be an issue with customer loyalty? Could there be a time when customer loyalty may not be the best answer? When we think of customer loyalty we often think of it as a way to help a company survive difficult market conditions. We think of customer loyalty synonymously…
Read MoreDawn’s Stop-Doing List
Stop cutting your prices to find more clients. Do mine your existing client base for new revenues and referred business. A 5% increase in retention of a profitable customer yields a 25-85% increase in bottom line. Engage and reward existing clients. And ask them to partner with you to reach more of their friends. Eagles…
Read More3 Important Ways to Build a Strong Financial Foundation for Your New Business
So many Americans dream of starting their own business. Being your own boss, pursuing your passion and the freedom and independence that it brings is priceless. We’ve all had that moment where we’ve considered how we can make money doing what we love… and then reality sets in. You can’t just be passionate about your…
Read MoreDon’t Pay the Psychological Price of Being the “Low Price Leader”
I’ve stressed the importance of finding and exploiting niche markets many times in this space. One of the biggest reasons operating in a niche market is preferred is because you can enjoy higher prices and the higher margins that accompany these higher prices. Usually, when we discuss niche marketing and pricing pressures, we think about products. When…
Read More9 Advanced Content Marketing Strategies for Small Businesses
Starting a small business can seem like a huge gamble, but the biggest emphasis on your small business is not always the initial or ongoing investment. Your largest influence will be the content marketing strategies that you employ. There are many strategies to speak of for content marketing, but if you want to stand out…
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