How to Understand Competition, Cost Structure, and Profitability Pricing a product or service is one of the most crucial decisions that any business owner faces. It determines whether the business will thrive, merely survive, or fail. Many small business owners make the mistake of setting prices based primarily on what competitors are charging. While it’s […]
How Much Should I Charge?
Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9 pm ET. This is excerpted from my recent interview with @EllenRohr. Ellen Rohr, Business Make-over Expert is President of Bare Bones Biz, Inc. As president of Benjamin Franklin Plumbing, a […]
Should You Have Good Pricing or Great Pricing?
Should you have good pricing or great pricing? Our first instinct is to have great prices that will permit us to crush the competition, gain market share and fuel fast growth. The usual problem is that great prices typically provide slim profit margins. Good pricing, however, over the long term, should create enough profitability to […]
2 Small Changes for Big Results in Your Small Business in 2014
Guest Article The New Year is upon us. What a gift! If I am going to make all my dreams come true in this lifetime, I better get more done with less time and effort. I’m too old to waste time. So, I’m focusing on small changes that will lead to breakthrough results. Money helps. […]
Should You Raise Prices in Your Small Business in 2013?
Over at my new site TheSelfEmployed, I naturally hear from a lot of solopreneurs. And by the same token, because my weekly USA TODAY column is called Ask an Expert, I also necessarily hear from a lot of other, bigger businesses. Yet, no matter what size the business, everyone seems to have one thing on […]