Increase Profits

Price to Succeed!

Instituting value-based pricing over other common methods, like cost-led and positioning (pricing yourself against your competition), generally has a positive impact on business profits. Why? Because most businesses tend to underestimate their own value, thereby pricing below what they are truly worth. So, making the proper price adjustments can quickly increase the profits of … [Read more...]

Value for Me and Also for Thee

What is the ultimate goal of any business? What is its purpose? Simple questions, right? To make money. Wrong answer. To be profitable? Wrong again. The goal of any business should be to create value. Making money is a short-sighted answer. Focusing on profits also take a short-sighted approach to long term success. So what does “create value” even mean, and for whom are we … [Read more...]

Maximizing Profits

Maximizing the profitability of your business starts with a well-developed, value based pricing strategy. This is done by creating, understanding and quantifying the value that your product brings to the market. While pricing is one of the four components of the marketing mix (product, promotion, place and price), it is often given the least attention yet has the most direct … [Read more...]

Why Discount Pricing Does Not Work

A common thought among most business owners is that if you want to increase sales volume and increase profits, you should lower your price or offer discounts. That type of thinking and strategy could not be further from the truth. While sales volume could occasionally increase with discounting, it very rarely leads to increased profits. More times than not, it will … [Read more...]

How to Increase Your Bottom Line Now

Sometimes the numbers just don’t work.  You need that bottom line to increase as soon as possible, like yesterday, but something just isn’t clicking.  It happens in every business at some time or another, but what can you practically do?  You already offer a great service or product at fair prices.  Customers are happy and there are plenty of them.  Business is booming but the … [Read more...]

Business Growth Through Buying Rocks

If you’re like most business owners, growing your business is one of your top priorities, but knowing how to go about it is a constant struggle. The concept of business growth is actually a simple one, but too many times people overcomplicate things. I took a recent trip to Kenya, during which I taught a group of small business owners how to grow their businesses by … [Read more...]

7 Cost-Free Ways to Increase Employee Productivity

Whether you’re a new start-up or you’ve been happily serving clients for over one-hundred years, one thing is certain – the productivity of your employees can make or break your business success. Although hiring experienced and enthusiastic people is the first step to taking your company to higher levels, keeping them productive is the next thing you must do as an employer if … [Read more...]