Small Business Toolbox

A library of business management info


Pricing

  • When to Raise Your Rates
    01/08/2007
    Small-business owners and self-employed individuals face an ongoing challenge to establish rates that enable them to care for themselves and their families, set aside funds for future business growth and retirement savings and remain competitive.
  • The Importance of Being Honest
    11/06/2006
    Advertising is regulated both by the Federal Trade Commission and at the state level, and non-compliance can be costly. Before you release any advertisement, it pays to check out the state and federal rules to make sure you are in compliance.
  • Don't Undercharge for Your Services
    10/09/2006
    During the start-up phase of a business, pricing of products and services is a key issue. In fact, accuracy in pricing is one of the key factors in whether a company will exist through the all-important first few years.
  • Building Loyalty in Your Business
    08/30/2006
    Why spend time and money chasing new customers with glossy marketing campaigns if you can't be sure that they'll stick around? Selling to people you already know is much more profitable and predictable. And part of the payoff is that your regulars will spread the word about your business to everyone they know––advertising you can't buy.
  • The Next Small Thing: Why Bigger Isn't Always Better
    07/25/2006
    "I don't have anything against big business," Jason Fried says. "It's just not for me."
  • The High Cost of Low Prices: Discounted Prices Don't Always Guarantee Bigger Sales
    07/25/2006
    When Yvonne Shortt started Rego Park, N.Y.-based Waddevah five years ago, she knew how she was going to win sales: low prices. But slogging it out on the sticker price meant losing money in her wholesale and online retail accessories business.
  • Brushed With Greatness
    05/25/2006
    After spending a week styling hair at the White House, Luna Howard knew her small business had made the cut.
  • It's Been a Month: Keeping Resolutions for Your Small Business
    02/01/2006
    Like many small-business owners, my New Year's resolution is to make more money this year, but how do I actually keep that promise? The secret to keeping your business resolutions is to put a plan in place early on and then take consistent action to follow the plan.
  • Deciding How Much to Charge for Your Services: Is Lowest Always Best?
    05/05/2005
    How much should you charge for your services? That is a question that has perplexed many an entrepreneur. Often, the thought is that you should charge less than the competition to attract more customers (also known as gaining market share.) This is a logical thought process, but not necessarily a good idea.
  • Price Counts: Determining How Much to Charge
    03/21/2005
    A new business owner has to keep an eye on employees, operations and inventory, but sales are the true key to financial success. Sales are what will keep you in business next month. Nothing is more important. Sales are the very lifeblood of your business. Your company will grow quickly as long as you are selling your product or service and being paid for it. On the other hand, your company will fail if you don't pay close attention to sales.
  • Holding Your First Sale: What to Know, What to Do
    02/16/2005
    Q: How would we go about having a sale? I am fairly new to this business stuff.
  • The Scientific Way to Determine the Price of Your Products or Service
    01/12/2005
    Pricing your products or services should not be a one-time event. Underlying costs, customer sentiment and ability to pay and pressure from competitors change regularly, so prices should be monitored regularly to make sure your offerings are most attractive to buyers and provide optimal profitability for your company.
  • Price Counts: Terms of the Sale
    09/15/2004
    The terms of a sale include the method of payment accepted by the business, the customer identification that is required, the length of time the customer has to pay and your return policy. These terms should be written up and posted so that they are clear to both your staff and your customers.
  • Name Your Price
    09/08/2004
    Q: I am new to the small-business world and don’t really know how much to charge for my product. I make a very rich, delicious brownie. Do I charge what others charge? More, less?
  • Move Beyond Hourly Billing
    02/12/2004
    As a service provider gains experience in his or her chosen field, it's natural to expect to earn more for each hour worked.
  • The Woes of Low Pricing
    01/07/2004
    It's often attractive for a new company, or even one going through a cash-flow crunch, to consider attracting business through low pricing.
  • Don't Be Afraid to Experiement With Pricing
    10/09/2003
    There is always a tug-of-war between total sales revenue and net profitability -- and much of it has to do with pricing.
  • Great First Impressions: Accurate and Efficient Bids
    03/28/2003
    When customers contact you for a formal quote or bid, itÆs likely that theyÆre contacting your competitors as well.
  • Quick Ways to Make Your Offers More Attractive to Customers
    12/23/2002
    Sometimes it doesn't take an MBA to discover new and innovative ways to make your products or services more attractive to customers. In today's article, Jeffrey Moses lists easy ways to help finalize the sale.
  • Are You Pricing Items Correctly?
    11/26/2002
    Here are a few principles to consider when you decide what prices to put on your merchandise.
  • Pricing One-of-a-Kind Projects
    10/01/2002
    Completely new types of projects are often difficult to bid accurately because any number of variables can come up during the course of the work.
  • Time to Raise Your Fees?
    08/06/2002
    When discussing a raise in rates with customers, your attitude is all-important.
  • Pricing Incentives for Service Providers
    07/30/2002
    Retailers often stimulate sales through price incentives. While small service providers usually canÆt make a buy-one-get-one-free offer, there are plenty of deals they can use to generate business.
  • Tips for Choosing a Quick Print Shop
    04/15/2002
    Today's article offers some tips on how to make the most of quick printers, save money and avoid mistakes.
  • Matching Internet Prices: A Challenge for Brick and Mortar Stores
    04/15/2002
    In today's Workshop, Jeffrey Moses discusses the growing importance of matching, or at least trying to match, e-outlet prices.
  • One Size Doesn't Fit All
    04/02/2002
    You can chalk up tremendous customer appreciation and win customer loyalty when you base your charges on specific customer needs, as explained in today's Workshop.
  • The Single Strongest Offer You Can Make, Part II
    04/02/2002
    To give customers assurance of quality, and to convince them that they have nothing to lose if the product you sell doesn't provide a solution to their needs, you should offer a 100% no-questions-asked money-back guarantee.
  • The Single Strongest Offer You Can Make, Part I
    04/02/2002
    To give customers assurance of quality, and to convince them that they have nothing to lose if the product you sell doesn't provide a solution to their needs, you should offer a 100 percent no-questions-asked money-back guarantee.
  • How to Determine Reasonable Prices for Your Products
    04/02/2002
    When working with start-up companies that plan to sell new products through direct mail, the Internet, or retail, I've heard lengthy discussions about how much should be charged.
  • Keep Your Pricing Consistent to Avoid Price Discrimination
    04/02/2002
    If your small business supplies a product to large wholesalers, retailers or mail order companies, as well as to smaller customers, it's required by law that you maintain consistent pricing, unless specific factors exist.
  • Setting the Price Before Determining the Level of Service
    04/02/2002
    B2B (business to business) selling is different in many ways from selling to individuals.
  • Pricing Primer
    03/22/2002
    The prices you charge are crucial to how you position your company and market its products and services.
  • Competing With a Vendor Who "Marks Down" an Over-Inflated Price
    03/22/2002
    Educate your customers to insulate yourself against competitors who offer markdowns on bogus initial prices.