Determining how to price your products and services is a tough decision all entrepreneurs face. Small business owners — especially those just starting out — tend to price their products on the lower end of rivals’, thinking it will make them competitive and attract more customers. Contrary to this popular belief, however, this rarely proves true. In this post, we discuss pricing strategy and the three main reasons why cheaper may not always be better for your small business.
The holiday season is officially upon us, which means shoppers scrambling to buy gifts for their loved ones — and sales opportunities galore for your small business! We understand as a small business it may seem daunting to compete against “big box” retailers. With proper planning, coordination, focus, and promotion, however, any entrepreneur can capitalize on the opportunity to increase year-end sales. Below are the top five strategies the Iowa Western SBDC recommends to hel
As a small business owner you may feel that the marketing tactics that you are doing do not work or do not give you immediate results for your business. You have tweeted, posted, blogged, networked and paid hundreds of dollars to local newspapers, but feel like the effort and the money is going down the drain. What can make a big difference in your marketing effectiveness is sitting down and creating a clear and targeted marketing strategy. Make some crucial decisions that
In the midst of everyday tasks of general business housekeeping and putting out fires, business owners always have those “big picture” business changing tasks that they want to complete. You may want to develop a new marketing strategy or institute a new operating system, or start using social network sights for business to business networking. Try treating these tasks like habits that you want to create for your business and take one step at a time for 21 days. First defin