The most important element of your price is that it needs to sustain your business. If products are set at a high price and potential customers don’t buy, you’ll lose market share. If you set a low price, you’ll be selling at a loss, or at an unsustainable profit margin. This w...
Selling a business, part 2: how to negotiate: the seller should do everything possible to keep negotiations moving. The requires being prepared with all information and allowing for different payment options.(BUSINESS BASICS: BUILDING BLOCKS FOR SMALL- AND MEDIUM-SIZE OPERATIONS)Britten, Tom...
Pricing your home correctly can be the single most important factor when you're selling your house. You don't want to overprice the property, because you'll lose the freshness of the home's appeal after the first two to three weeks of showings. Demand and interest wane after 21 days or...
This is a simple model where you add a markup percentage to your product's production cost to arrive at a selling price. For example, a small woodworking business might use cost-plus pricing for custom furniture, ensuring they cover material and labor costs while also making a profit. Competi...
How to price your products– this is a question I get ALL the time. And every time I browse Etsy and many other online stores I see it – the shockingly low price. Too many sellers think low prices mean selling more. Are you one of them?
When selling your business, confidentiality is paramount. However, keeping such a big secret can be a challenge, as there are many ways that information can get leaked. That said, there are things you can do to reduce that risk and ensure the sale remains confidential until the deal is fina...
The most common answer to the question of when to sell your business is “it depends." No single formula is right for every situation. The decision can be informed by many eventualities, such as deteriorating health or a divorce. But experts agree that i
The right price covers costs, stays competitive, and nets a profit—follow these 5 steps to find that sweet spot.
When discussing a price increase in abusiness-to-businessenvironment, it is important to remember that our customers have probably had to have the same discussion with their own customers. Key Takeaways When you have to increase your prices, it's best to communicate that with your customers in...
But if ever you need to, you want to make sure you are getting the maximum price. Whether you are selling your business or thinking of it as an exit strategy, you must prepare your small business for sale. Prepare Your Small Business For Sale Before selling your small business, you ...