In some businesses, like tech startups selling a digital product, or companies with a low Cost of Goods Sold, it may make sense to offer a periodic discount like a "Buy One, Get One Free" or a "25% off on Saturday" type coupon. Discounting allows people who are current customers to get a little something extra, and potential new customers to visit, sign up, or … [Read more...]
Do you Have what it Takes to be an Entrepreneur?
Are you thinking about going into business, but don't know if you're ready? You may have the skills to become an excellent entrepreneur. Do you believe in your business and are you willing to make it work for you? Your passion determines your ability to commit to the work. Do you have a head for numbers? You'll need to make projections and identify price points, at … [Read more...]
Your Product or Service: How to Price it Right
I've always believed that you must price your particular product or service at a level that provides value for others at a price they're willing to pay. There are two parts of a price tag: one is the actual sale price of the item. The other is the value that the purchaser finds in buying that item. The actual sales price is just a number. However, the item is essentially … [Read more...]