Posts Tagged ‘Profit’
A Small Business Pricing Perspective: Higher is Better
To get a perspective on small business pricing, let’s first take imaginary strolls through the aisles of two retailers: Walmart and Saks Fifth Avenue. Both are leaders in their markets, so this isn’t a criticism of either one. We’re taking this stroll to observe human behavior and psychology. If we walk through Walmart at almost…
Read MoreNoble Selling Purpose and Profit in Perfect Harmony
Not only is there no dichotomy between selling this way and making a profit, the two are absolutely aligned. When your purpose in selling your product or service is noble your focus is totally and absolutely on the value you bring to your customer.
Read More Income vs. Profit vs. Revenue
Motivated entrepreneurs dream of dollar signs—bright, S-shaped figures that shimmer and represent the true reward of starting a venture and reaping the financial benefits of the hard work that goes into it.
Read More A Tale of Two Pricing Strategies
Imagine two companies. One touts the results the customer can expect and charges premium prices, the other touts its low prices. Which one wins?
Read More Small Biz Check Up
It’s the first week of April. How are your financials doing? It’s time for a small biz check up. By now, all your financials on the first quarter of 2014 should be available to you.
Read More The Real Cost of Loss Leaders: Can You Afford Them?
From time to time some companies lose money on projects through labor overages, material overages or mispricing a project. They have to work harder and more efficiently to make up for those losses. But how much harder and how much more efficiently?
Read More If You Love What You Do the Money Will Come?
You have heard this advice at least once: Do what you love and the money will follow or do what you love and it won’t feel like work. It seems easy but it’s not.
Read More What if You Did Bottom-Up Budgeting in 2014?
What if you first decided what profit you wanted in 2014 and then determined the revenues that you needed to generate those profits? What if you started at the bottom of your 2014 profit and loss statement and worked up?
Read More The Lost Art of Loss Leaders
During high school I worked in a grocery store that used loss leaders to attract buyers. Once buyers were in the store they would typically buy enough related offerings, at higher margins, to more than offset the loss on the loss leader.
Read More Don’t Be Afraid of Net Profit per Hour
To have profitability you need to know where you are starting with profitability. That means calculating your net profit per hour.
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