Many of today’s entrepreneurs make their income via commissions. When reseller product prices change, it can have a direct affect on the commissions you earn. There are three factors that will directly affect the commission you will earn. They are: Buy Rates Minimum and Suggested Retail Price Price Settings Commission is often calculated on the difference between your buy rate … Continue reading
If a Business has to be profitable the sale price of its goods or services needs to be more than the cost price. A price that’s too high will lead to reduced sales. A price that’s too low will lead to reduced profits, and consumers that think there’s something wrong with the product. So what’s the answer? Let your market … Continue reading
Did you know there are at least a dozen ways you can raise your prices and your customers won’t even notice? Pricing isn’t all about logic. Our brains are programmed to notice some things while not even seeing something else that’s right there in front of us. For example, if you sell something for $9.99 rather than $10 it’s a … Continue reading
When it comes to business in order to sell your products or services two things must happen: 1. There must be a demand for what you are offering 2. It must be priced right so that the consumer chooses to buy that product If either of these elements is missing then there will be no sale and no revenue. But … Continue reading
No one would argue about just how tough the economic front is. During these sluggish times businesses attempt to compensate by reducing operating costs or changing their pricing. Let’s look at 5 pricing strategies for small business. Strategy #1 – Don’t Slash Prices Except to Move Obsolete Inventory When economic times hit, the most common mistake small business makes to … Continue reading
The object of any business is to generate revenue, which leads to profits. If there are no profits the business will not be able to survive. There are a number of reasons why profits might decline including increased expenses, increased cost of goods, and a reduction in sales. When profits falter many businesses automatically look to increase the product cost … Continue reading
