These new product pricing strategies build lasting customer loyalty and value. Both current and future pricing are part of the definition of a good product pricing strategy. You’ve put in the hard work to build your new product. It’s finally ready for sale. You have one critical decision left. What is your pricing strategy? You […]
Your business is a constant cycle of cash being invested and then received back, hopefully with a profit. This cycle is called the cash conversion cycle. Knowing how it works allows you to have less cash lost to the cycle. Most importantly, you’ll have cash available when you need it. The cash conversion cycle of […]
Big opportunities are waiting to be found in your excess capacity. Capture additional revenue with few additional costs. New profits lie hidden unless you know where to look. What machines are quietly idle while others are a flurry of productive activity? Has an employee said they are “ready for a new challenge” or “not being […]
A quick price analysis will significantly increase the profitability of your pricing strategies. Every business owner wants to find pricing strategies that maximize their profits. Once you know the prices of your competitors, do you know how to set your price to maximize your profit? Let me show you how to estimate how your price […]
Many Small Business Owners Don’t Appreciate the Differences Between Cash Flow and Profit. Those Who Understand the Difference of Profit vs Cash Flow Get Both.
Don’t Use Historical Profitability Analysis for Forward-Looking Decisions You’ve heard for years that you needed to perform product profitability analysis to know which of your products made or lost money. Maybe you finally calculated the profitability of each of your products. Congrats! That’s a good start. Just don’t use them to decide what you should […]
A cash flow projection is the most important financial report for your business yet so many businesses miss out on its benefits. How important is cash flow? Richard Branson said, “Never take your eyes off the cash flow because it’s the lifeblood of business.” A study by QuickBooks revealed shocking statistics about cash flow issues […]
I think you’ll agree that fluctuating cash flows are a massive source of stress for a small business owner. One day you’re riding high on piles of cash then suddenly your holding on with white knuckles as your cash flow plunges. It’s time to get off this wild ride by finding ways to increase your […]