When to ignore a competitor’s price rise
When a competitor raises their prices you have two choices. You can respond by raising your prices as discussed here, or you can choose to ignore the raise and maintain your current prices.
You should consider ignoring the price rise in the…
What to do when your competitors raise their prices
When your competitors raise their prices you have two response options; raise your prices, or maintain your current prices.
In this post we’ll look at situations where you can justify raising your prices in response to a competitor’s…
How To Implement A Price Decrease
A few posts back I covered When To Lower Your Prices. In this post we’ll look at the ways to implement a price decrease.
Price fall
The most straight forward tactic is to simply reduce the price. You will want to include this exciting…
How To Implement A Price Increase
In my previous blog post When To Increase Your PricesI discussed the circumstances when a price rise may be in order. Once you’ve decided to increase prices you need to decide how.
There are a few ways you can implement price increases;
Price…
When To Lower Your Prices
Last time we looked at when to increase your prices. Today we’re looking at when to lower your prices. ‘Why put prices down?’ you may ask. If you evaluate your range of products and services sometimes cutting the price is the right choice.…
When To increase Your Prices
Has it been a while since you increased your prices? When was the last time you evaluated your prices to check they are still relevant?
It’s a good idea to review your prices periodically - quarterly or bi-annually should be sufficient.
You…
8 Ways to Keep a Positive Cashflow
If the customer is king then cashflow is most definitely queen!
In business, a lack of cash means that you just hit game over. There’s nothing more devastating than finding you’ve hit empty and you have no choice but to close the doors.
Here…
When To Charge a High Price
Struggling with pricing your products and services? Many business owners charge less than they could. Often this comes down to lack of confidence rather than concrete factors that should affect price. If this sounds like you, there are certain…
Turning Your Hobby Into a Business: Part 2
1. Is the hobby scalable?
If it's a business you're looking to build then you need to consider whether your 'hobby' can be automated in any way, and whether you can outsource any aspects of the service or production.
If the answer to…
Turning Your Hobby Into a Business: Part 1
Have you considered turning your hobby or passion into a business?
It's everyone's dream to be paid to do what they love, isn't it? For some that dream can become a reality. But this isn't the case for all.
If your hobby is watching…
