Posts Tagged Pricing

4 Strategies for Surviving Foreign Currency Exchange Risks

Manage Foreign Exchange Risk

Any business that deals internationally deserves to have a strong, forward-looking currency plan that supports the company’s overall financial goals and protects their profit margins. The re-valuation of the Chinese Yuan this week highlights a risk that most small businesses barely acknowledge: the cost and volatility of international money exchange.
If you’re buying raw materials from China, your costs suddenly increased by 4% (enough to wipe out the entire profit margin for some businesses), which makes foreign currency exchange a risk that you cannot afford to ignore.
How do you protect yourself against these kinds of risks? Here’s the 4 basics you need to know now…

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How to Use Customer Segmentation to Drive Higher Profits

Customer Segmentation Strategies

In almost every business, just 20% of customers account for 80% of profits. And many businesses would be better off if they simply did not have to serve the bottom 80% at all!

But before you go out and fire 4 of every 5 customers, take a closer look. By understanding the profitability of each customer segment, and adjusting your operations accordingly, you can keep the customers and maximize profits.

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Pricing Strategy: How to Beat Amazon with a Differentiated Sales Channel

Business metrics must help you make decisions

If you make a product, selling it on Amazon.com is a double edged sword.  Sure, Amazon offers amazing exposure and great sales volume … but their relentless discounting takes sales away from other (higher margin) re-sellers. Worse, Amazon can steal sales from your own website. Too many business owners are stuck with a no-win […]

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The Power of “No”

I’ve been doing a lot of negotiating lately: Contracts, pricing, sales. And I’ve discovered a super-power that I did not know that I had… the power to say NO. NO has saved me from making huge mistakes and has earned me countless thousands of dollars. When a prospect asked me […]

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Pricing: 4 steps to Price for Profit

There are plenty of ideas about how to calculate the perfect price for your products or services, but none are very interesting or useful for your small business. If you are looking for something to put you to sleep, reading about “price theory” is perfect.  You could learn to set prices […]

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Calculate Profitability: How to Build a Profitable Business (Video)

Is your business making money for you or not? To answer this question, you have to know the difference between Gross Profit and Net Profit.  And to know that… well, I’m getting ahead of myself. To make this all a lot simpler, I’ve made a couple of VERY short videos. […]

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The $64 Penalty — Why Pricing Matters

I stayed at a World-class “Kessler” hotel this weekend… and learned all about “Penalty-based Pricing”. Did they really want me to stay there? Short rant… big lesson for pricing strategies. Richard Kessler, are you listening??

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Get Big: How Company Scale Drives Profits — Or Not

37signals partner David Hannson speaks about growth, sales, scalability, and profits. Hear from his competitors on this topic too — Avidian and SalesForce are compared.

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