Your Pricing Strategy to Maximise Sustainable Profits will have a major impact on your profitability. In many businesses, Product pricing is the biggest opportunity available to optimise your profitability. A comprehensive Real-Life Study (Hinterhuber 2004) examined the effect of implementing a 5% Value-based price increases on a sample of Fortune 500 companies. It found that typically […]
Product Strategy to Grow Your Business
Introduction Your Product Strategy to Grow Your Business should be all about the customer and what they want. NOT you, and what you think they want. Step 1. Start by asking yourself these questions “Why am I in this business?” What is my purpose for being here? It’s not about you, and not about […]
Exit Readiness Strategy-Overview
Exit Readiness Strategy. So, You’ve Decided to Make Your Business Exit Ready! Congratulations. Most business owners find it hard to believe that they should start thinking about the sale of their business from the first day they acquire or start their business – but they should! We highly recommended you plan your exit early in the […]
8 Reasons Why You Need A Current Business Plan
Some Business Owners think you don’t need a Business Plan unless you’re trying to borrow money. Of course, it’s true that you do need a good plan if you intend to approach a lender-whether a banker, a venture capital company or any number of other sources-for start-up capital or to fund the growth strategy in […]
Why Do Businesses Create An Annual Financial Budget?
Introduction Ask most small/medium sized business owners what an annual budget is, and they will likely respond with something like: a financial plan for a firm’s future that projects revenue and expenses. Ask them if they have one, however, and in many cases, you will get a variety of excuses why they don’t. When running […]