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Run & Grow

Redesign your product to spark a price revolution

Here are the 3 ways

 With price-simplifying, price is the strategy. Everything else is tactics – the means to arrive at the target price. Price-simplifying rests on the observation that if you can halve the price, your market will more than double (and may well increase by ...

by Richard Koch  | November 30, 2016 12:00:00
Startup Tips

Why some prices are more right than others

Here are factors that determine what your most attractive price is

The whole field of marketing is strongly based in psychology. And this is absolutely true when it comes to pricing strategy.We’re all familiar with price tags that read US$ 9.99 or US$19.99. Do these really move more product than tags reading US$ ...

by Craig Simpson  | September 19, 2016 08:00:00
Run & Grow

5 strategies of psychological pricing

All the top tricks explained simply

We are all in business to solve problems, add value and make a profit -- tasks which involve pricing your product or service. But how do you effectively price your product or service to increase sales and make more money with little or no ...

by Pius Boachie  | July 23, 2016 05:00:00
Startup Tips

Surprise! Cutting prices won’t guarantee more customers

If you're thinking that cheapness is a virtue in your business, it's time to unlearn that misconception.

If you were to raise your prices 20% tomorrow and not lose any customers, what would happen to your profit margins?If you make a 10% profit margin now, you would be making 25% tomorrow morning. On the other hand, if you cut ...

by Perry Marshall  | May 13, 2016 11:00:00
Run & Grow

Financial Adviser: To cut or not to cut my price?

A slight adjustment in pricing can spell a major difference between profit and loss.

Q: My business has been operating for three years now. It was doing great when we started but things have slowly changed with the entry of more competitors in our market. Our sales have been declining lately due to the competition. What ...

by Henry Ong  | May 10, 2016 05:00:00
Startup Tips

Pricing lessons learned from a Vegas prostitute

Lesson no. 1: Know your value.

I love pricing. I also love going to Las Vegas, especially when it is to attend a pricing conference. True, that’s not the reason most people visit, but then most people are not as passionate about pricing.On this particular trip, it was ...

by mark stiving  | April 19, 2016 11:00:00
Startup Tips

Financial Adviser: 8 ways to improve your cash flow

Here are some tips to monitor, manage the cash that is flowing in and out of your business.

Q: My food business has been struggling with cash flows lately, as sales have yet to pick up. I am afraid that if the business will continue to suffer negative cash flows in the next few weeks, my working capital may be ...

by Henry Ong  | March 08, 2016 09:00:00
Startup Tips

Don't be the cheapest, be the best!

Having competitive prices is good, but improving the quality of your products and services is better.

Often, founders are worried about how they price their product compared to their competitors. They will find out what everyone else is charging and price their product towards the bottom end of the price range. Their reasons for doing this is they want to be competitive and ...

by Mike Templeman  | April 18, 2015 06:10:00
Run & Grow

‘Salon for the people’ delivers high-quality chic at affordable prices

Actress-singer Vina Morales talks about a strategic move to broaden the client base of her salon business, Ystilo.

On TV and movies, Vina Morales is all about make-believe, but when it comes to running her salon business Ystilo, she’s keeping it real, as the company re-brands in a bid to widen its market reach and become a salon for the ...

by Carlo P. Mallo and Carlo P. Mallo  | April 17, 2015 07:00:00
Finance

Pricing that attracts

Retailing in a very competitive environment is not for the faint of heart. Here's how to play the pricing game.

by Henry C. Ong  | April 15, 2014 04:00:00
Startup Tips

Is the price right?

A good pricing strategy can help your business achieve financial and marketing goals.

Since it determines the level of profit that you can earn, pricing is an important element in your business strategy. Your pricing strategies can affect not only the volume of your sales but also the margins that you need to pay for ...

by Henry Ong  | June 11, 2013 10:00:00
Startup Tips

How much should I pay retailers for selling my product?

How much of your profits should go to your distributor?

Q: How much should I pay retailers for selling my product? I want to start selling my handmade jewelry in boutiques, but I do not know how much of the profits should go to the owner of the shop. A:Before distributing your ...

by Henry C. Ong  | January 17, 2013 02:00:00
Business Ideas

How do I find the right price my product?

Learn the secrets to finding the profitable price for your product.

When selling a product, food and otherwise, you have to ensure sufficient earnings to cover your costs. Any income made beyond the production cost is considered profit. Before pricing your product, however, you must know certain basic terms:Fixed costs (FC). Expenses that ...

by Rocel Ann G. Junio  | March 05, 2012 01:00:00
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