This is the first part of a series of articles that will focus on the steps to build a superior value proposition for your business, products, and services or your total offer.
Finances and Money
One of the most important resources you need for your business are financial resources. Without money you can not ensure normal operations of your small business. So, here you can find articles related to the money side of your company.
Every entrepreneur starts a business for the most important purpose. To make a profit and to improve her personal life. Profitability is something that is the most wanted thing in the life of every entrepreneur. If you have $5,000.00 this year, you will want $7,000.00 next year. If you have $10,000.00 profit this year, you will want $15,000.00 for next year. If you have $150,000.00 profit this year, you will want $200,000.00 for the next year. You will always want more profit.
The prices that you are using to sell your products and services are a business element that can have a really high business potential energy for your company. Choosing the right pricing strategies can have a large effect on the quantity of the business potential energy your company will have.
Many entrepreneurs in the time of recession think that the best way to increase sales and keep their existing customers is to start lowering their prices. Additionally, many of them are lowering prices to eliminate competition, and to increase revenue and sales. And in many cases, they do that!
However, there are many hidden and visible negative effects on the business when you use such a pricing strategy.