Free daily tips, information, advice and ideas
to help you better manage your small business
Cause promoting, or cause marketing, is not new. Small businesses have been helping local causes ever since they first supplied uniforms to local ball teams.
Small businesses improve their reputation and sales efforts by supporting local causes. Cause promoting is not only the right thing to do, it's good for business--spreading the word out into the community.
Examples: It's the local veterinarian who sponsors pet adoptions once a month. It's the local restaurant that opens up its party room to local charitable events. It's the local fitness center that sponsors a Walkathon for the benefit of cancer survivors. It's the local health food store that brings the Bloodmobile to its front door once each month. It's the local dentist who pays kids to bring in all the Halloween candy they've received. It's the local bakery that donates food to local food banks.
Big corporations put together big cause marketing campaigns to sell more product and enhance the company's image. Pink campaigns are so prevalent that the word "pink" has become synonymous with breast cancer research. Every time you see the word, you think about the contribution being made to a good cause.
Even small businesses have jumped at the chance to become part of local "pink" campaigns. Funds raised go to cancer research, and the reputation of the small business spreads in the community.
When CVS announced a campaign to remove all tobacco products from their pharmacies, the company's reputation was spread by the media--amounting to free advertising. CVS got widespread free publicity and improved the company's image in this cause marketing effort.
Small businesses are an integral part of the community they serve. It's a natural extension of that idea for businesses to be involved in cause promoting. Help the community and your small business is helped at the same time.
If your business is among the examples, you have a starting point. If not, put on your thinking cap and find a way to promote your business with cause promotions.
Cause promotions must be themselves promoted. Post your cause promotion on social media--it's easy and free. Cause promotions put a positive spin on your business and bring you some new people.
Tuesday, February 2, 2016
Monday, February 1, 2016
Easy, cheaper ways to promote
Free daily tips, information, advice and ideas
to help you better manage your small business
Promote inexpensively to grow and expand your business. Gone are the days when it cost an arm and a leg to advertise.
Here are three easy and inexpensive ways to promote. Reduce your advertising budget and use the cash for other things.
Social media: Much of social media is free. You don't have to buy an advertisement in order to take advantage of the power of social media. Facebook is a very good example. Many small businesses have jumped on the Facebook bandwagon to spread the word about their products and services. You'll need pictures, but you're snapping pictures all the time anyway. Pictures posted need not be professional. A closeup of a decorated cake will certainly attract attention, as well as a bouquet of flowers, a piece of jewelry, a trendy new outfit. More than Facebook is waiting for you to explore--Twitter, Instagram, Pinterest, LinkedIn, and more. All of these can direct attention--and new buyers--to your business. You should have a website, and it should be up to date.
Events: People are hungry for information, and you are expert at what you do. Put these two together, and you can promote your business very inexpensively. Hold an open house and give free demos and explain the benefits of acupuncture, massage, yoga, healthy diets, or whatever it is you offer. Hold informational meetings at clubs, senior centers, non-profit group meetings and other gatherings. Computer experts can advise dealing with viruses and how to recover from a crash. Accountants can explain new tax laws. Attorneys can advise what to do when you get sued. Chiropractors explain the benefits of chiropractic and answer all the questions.
Classes: Classes can take the public's hunger for information to the next level. Schedule a series of classes for beginners and another series for advanced students. Bakers teach cake baking and decorating. Potters teach throwing pots and making glazes. Accountants teach people how to simplify record-keeping. Landscapers teach garden design and how to lay pavers for walkways and seating areas. Any business can schedule classes evenings and weekends when people have free time. Attendees will pay you for classes, help spread the word about your business, and bring in referrals.
Promotions can cost next to nothing. Of course, you'll be spending your time and maybe coffee and cookies. But social media, events and classes cost less than print ads. And the argument can be made that these are more effective.
Social media has revolutionized advertising. You might still use print ads, mailers, and other things that still have appeal. But don't neglect the elephant in the room--social media.
to help you better manage your small business
Promote inexpensively to grow and expand your business. Gone are the days when it cost an arm and a leg to advertise.
Here are three easy and inexpensive ways to promote. Reduce your advertising budget and use the cash for other things.
Social media: Much of social media is free. You don't have to buy an advertisement in order to take advantage of the power of social media. Facebook is a very good example. Many small businesses have jumped on the Facebook bandwagon to spread the word about their products and services. You'll need pictures, but you're snapping pictures all the time anyway. Pictures posted need not be professional. A closeup of a decorated cake will certainly attract attention, as well as a bouquet of flowers, a piece of jewelry, a trendy new outfit. More than Facebook is waiting for you to explore--Twitter, Instagram, Pinterest, LinkedIn, and more. All of these can direct attention--and new buyers--to your business. You should have a website, and it should be up to date.
Events: People are hungry for information, and you are expert at what you do. Put these two together, and you can promote your business very inexpensively. Hold an open house and give free demos and explain the benefits of acupuncture, massage, yoga, healthy diets, or whatever it is you offer. Hold informational meetings at clubs, senior centers, non-profit group meetings and other gatherings. Computer experts can advise dealing with viruses and how to recover from a crash. Accountants can explain new tax laws. Attorneys can advise what to do when you get sued. Chiropractors explain the benefits of chiropractic and answer all the questions.
Classes: Classes can take the public's hunger for information to the next level. Schedule a series of classes for beginners and another series for advanced students. Bakers teach cake baking and decorating. Potters teach throwing pots and making glazes. Accountants teach people how to simplify record-keeping. Landscapers teach garden design and how to lay pavers for walkways and seating areas. Any business can schedule classes evenings and weekends when people have free time. Attendees will pay you for classes, help spread the word about your business, and bring in referrals.
Promotions can cost next to nothing. Of course, you'll be spending your time and maybe coffee and cookies. But social media, events and classes cost less than print ads. And the argument can be made that these are more effective.
Social media has revolutionized advertising. You might still use print ads, mailers, and other things that still have appeal. But don't neglect the elephant in the room--social media.
Friday, January 29, 2016
Your Internet future
Free daily tips, information, advice and ideas
to help you better manage your small business
So, how do you exploit the Internet to grow your small business? It depends on what you are doing. And it depends on where you plan to take your business down the road of growth and expansion.
You can do what many business owners do. Put up a website and revise it from time to time. When people visit, they see the same thing--month after month. Soon, nobody bothers to come to your website. If you don't refresh your website every week with new content, the search engines stop directing people to your site.
You can use social media to drive eyeballs to your website. Jump on Facebook at least twice each week and post a picture along with a few words. People are reminded that you are still there for them. They "like" you and perhaps pass your post on to their friends. Circles grow, and your business attracts more people.
There is a third way. It combines all this, and it can change your business into more than you ever dreamed it could be. Get your website active and keep it active with fresh content. Drive more people there with social media.
Example: Sue loved to bake brownies. She experimented with different recipes, she baked for friends and relatives, she gave them away to church functions, she even landed a couple of customers--corporate meeting planners. One of these people suggested that Sue develop a website through which they might place orders. Sue jumped on the Internet with her own website, and she began posting on Facebook with pictures of scrumptious brownies. Suddenly her business exploded. Today, Sue oversees the baking of her brownies in a commercial kitchen and she ships brownies all over the country. Smart use of the Internet has grown her business beyond her wildest dreams.
Example: Justin worked in a major corporation. Then, he inherited his aunt's consignment shop. He decided to make a life-changing career move. He resigned his corporate position, and he devoted full time to building the consignment shop. He concentrated on high-end items and those with a hot market. He invited artists and artisans to consign to his shop. He turned his website into a go-to destination, and promoted heavily on Facebook and other social media. He set up an eBay type store. He concentrated on selling at the store, through his website, and on eBay and other sites. Most of the items arriving at the store, he photographed and posted on social media--every day. Justin turned his aunt's consignment shop into a much more active business.
The Internet holds futures not yet dreamed of. Owners of small businesses need to catch the wave and ride it to success.
Put on your thinking cap. And get on the Internet--in all forms. Social media might be the greatest thing since sliced bread to grow and expand.
to help you better manage your small business
So, how do you exploit the Internet to grow your small business? It depends on what you are doing. And it depends on where you plan to take your business down the road of growth and expansion.
You can do what many business owners do. Put up a website and revise it from time to time. When people visit, they see the same thing--month after month. Soon, nobody bothers to come to your website. If you don't refresh your website every week with new content, the search engines stop directing people to your site.
You can use social media to drive eyeballs to your website. Jump on Facebook at least twice each week and post a picture along with a few words. People are reminded that you are still there for them. They "like" you and perhaps pass your post on to their friends. Circles grow, and your business attracts more people.
There is a third way. It combines all this, and it can change your business into more than you ever dreamed it could be. Get your website active and keep it active with fresh content. Drive more people there with social media.
Example: Sue loved to bake brownies. She experimented with different recipes, she baked for friends and relatives, she gave them away to church functions, she even landed a couple of customers--corporate meeting planners. One of these people suggested that Sue develop a website through which they might place orders. Sue jumped on the Internet with her own website, and she began posting on Facebook with pictures of scrumptious brownies. Suddenly her business exploded. Today, Sue oversees the baking of her brownies in a commercial kitchen and she ships brownies all over the country. Smart use of the Internet has grown her business beyond her wildest dreams.
Example: Justin worked in a major corporation. Then, he inherited his aunt's consignment shop. He decided to make a life-changing career move. He resigned his corporate position, and he devoted full time to building the consignment shop. He concentrated on high-end items and those with a hot market. He invited artists and artisans to consign to his shop. He turned his website into a go-to destination, and promoted heavily on Facebook and other social media. He set up an eBay type store. He concentrated on selling at the store, through his website, and on eBay and other sites. Most of the items arriving at the store, he photographed and posted on social media--every day. Justin turned his aunt's consignment shop into a much more active business.
The Internet holds futures not yet dreamed of. Owners of small businesses need to catch the wave and ride it to success.
Put on your thinking cap. And get on the Internet--in all forms. Social media might be the greatest thing since sliced bread to grow and expand.
Thursday, January 28, 2016
Networking promotions
Free daily tips, information, ideas and advice
to help you better manage your small business
This is NOT about business card exchanges. We're talking networking meetings that you set up yourself.
Networking meetings are good promotional settings for small businesses. A networking meeting puts the focus on the small businesses that serve a community. They can serve both the neighborhood and the surrounding area or region.
Every small business needs more clients and customers. Therapists and small farms serve the local community. Florists and caterers and salons reach out beyond their area to attract more customers.
Networking meetings are easy to set up and operate. Consider doing a networking meeting yourself to increase awareness, promote your business, and get more referrals.
Example: Frank operates a fitness studio. Exercise machines and free weights keep clients busy, and Frank offers personal training. To increase his client base and get more referrals, he decided to hold networking meetings. But he did not use the networking name. He put the word out on social media that free demonstrations would be held in the evenings of the first Tuesday of each month. He envisioned the meeting as an open house for other business owners, fitness enthusiasts, corporate desk people, and the general public. He got a local caterer to furnish snacks, a local student band to play a short program, and Frank gave a brief talk about fitness programs especially geared toward people with weight problems, and he answered all the questions. He did not try to sell anything or sign up people for his fitness programs. The monthly open houses are fun and informational, and they have become a go-to destination every month. Franks sees new faces joining his operation.
Example: Sandra is a marketing consultant. She was dissatisfied with the handful of business networking groups in her area. So she decided to start one of her own. She spoke with a local restaurant that had a large meeting room. The room was never used in the mornings, so the restaurant owner agreed to let Sandra hold networking meetings there once each month starting at 7 a.m. People arrive, spend a half-hour milling around, talking with each other, and making new contacts. Sandra arranges for a special speaker for each meeting who discusses a subject of general interest--subjects like social media, mortgages and reverse mortgages, lease negotiations, and the like. There is a $20 charge, but it includes a continental breakfast furnished by the restaurant. Sandra puts the word out on her website and Facebook page. She also has a MeetUp.com site--free for the asking. Her networking sessions have become so popular she is thinking of holding a second one each month in another town. Her marketing consulting business is expanding.
The key to success with networking meetings seems to be the attraction of business people getting together--with a little food, informative speakers, maybe some music.
Networking meetings are NOT business card exchanges. Networking meetings bring together people with similar interests and problems.
to help you better manage your small business
This is NOT about business card exchanges. We're talking networking meetings that you set up yourself.
Networking meetings are good promotional settings for small businesses. A networking meeting puts the focus on the small businesses that serve a community. They can serve both the neighborhood and the surrounding area or region.
Every small business needs more clients and customers. Therapists and small farms serve the local community. Florists and caterers and salons reach out beyond their area to attract more customers.
Networking meetings are easy to set up and operate. Consider doing a networking meeting yourself to increase awareness, promote your business, and get more referrals.
Example: Frank operates a fitness studio. Exercise machines and free weights keep clients busy, and Frank offers personal training. To increase his client base and get more referrals, he decided to hold networking meetings. But he did not use the networking name. He put the word out on social media that free demonstrations would be held in the evenings of the first Tuesday of each month. He envisioned the meeting as an open house for other business owners, fitness enthusiasts, corporate desk people, and the general public. He got a local caterer to furnish snacks, a local student band to play a short program, and Frank gave a brief talk about fitness programs especially geared toward people with weight problems, and he answered all the questions. He did not try to sell anything or sign up people for his fitness programs. The monthly open houses are fun and informational, and they have become a go-to destination every month. Franks sees new faces joining his operation.
Example: Sandra is a marketing consultant. She was dissatisfied with the handful of business networking groups in her area. So she decided to start one of her own. She spoke with a local restaurant that had a large meeting room. The room was never used in the mornings, so the restaurant owner agreed to let Sandra hold networking meetings there once each month starting at 7 a.m. People arrive, spend a half-hour milling around, talking with each other, and making new contacts. Sandra arranges for a special speaker for each meeting who discusses a subject of general interest--subjects like social media, mortgages and reverse mortgages, lease negotiations, and the like. There is a $20 charge, but it includes a continental breakfast furnished by the restaurant. Sandra puts the word out on her website and Facebook page. She also has a MeetUp.com site--free for the asking. Her networking sessions have become so popular she is thinking of holding a second one each month in another town. Her marketing consulting business is expanding.
The key to success with networking meetings seems to be the attraction of business people getting together--with a little food, informative speakers, maybe some music.
Networking meetings are NOT business card exchanges. Networking meetings bring together people with similar interests and problems.
Wednesday, January 27, 2016
It's now or never--just do it!
Free daily tips, information, advice and ideas
to help you better manage your small business.
Thinking about starting a business? Stop second-guessing yourself. No matter your situation, no matter the economy, the time is now. Start that business you've been thinking about, and never look back.
Think it's too early in life? Consider the 10-year-old boy who shovels snow for his neighbors. He went on to establish a landscaping business.
Think it's too late in life? Consider the 79-year-old woman who established a bagel shop. She later sold out and retired--again.
Example: Consider the lady who worked in Corporate America and rushed home every day to the thing she really loved--making pots, creating at her potter's wheel. When she was ready, she took early retirement from her fancy position and set up her own pottery operation. Her special glazes attracted lots of attention, and her reputation spread. Today, her pottery commands high praise and high prices.
Adults are frequently locked in pursuits they little enjoy. Some rush off to change career directions--still with the comfort of a regular paycheck. Others start a business built around a compelling interest. They are looking for more fulfillment than that left behind.
Example: Consider the man who spent his spare time working for a local contractor. He honed his skills in painting houses, replacing gutters and windows, repairing stairs, tackling minor plumbing jobs and more. His long-range plan was to own 2- and 3-family apartment houses that needed work. He was setting himself up to do the work, or at least he would know how to judge work he hired done. Today, he owns and manages several small apartment houses and is building up a significant retirement nest egg.
Starting a small business is a now or never proposition. I'm fond of quoting the Good Witch of the North in the Wizard of Oz. "The place to begin is at the beginning," she told Dorothy. As we all know, we make our own beginnings.
If you are stuck in a job you don't enjoy, start making plans to leave. Start your own business built around something that causes you to jump out of bed in the morning. Your dream becomes your alarm clock.
There is never a "right time" to start a business. Get your thinking straightened out. Stop wasting time. Get at it.
to help you better manage your small business.
Thinking about starting a business? Stop second-guessing yourself. No matter your situation, no matter the economy, the time is now. Start that business you've been thinking about, and never look back.
Think it's too early in life? Consider the 10-year-old boy who shovels snow for his neighbors. He went on to establish a landscaping business.
Think it's too late in life? Consider the 79-year-old woman who established a bagel shop. She later sold out and retired--again.
Example: Consider the lady who worked in Corporate America and rushed home every day to the thing she really loved--making pots, creating at her potter's wheel. When she was ready, she took early retirement from her fancy position and set up her own pottery operation. Her special glazes attracted lots of attention, and her reputation spread. Today, her pottery commands high praise and high prices.
Adults are frequently locked in pursuits they little enjoy. Some rush off to change career directions--still with the comfort of a regular paycheck. Others start a business built around a compelling interest. They are looking for more fulfillment than that left behind.
Example: Consider the man who spent his spare time working for a local contractor. He honed his skills in painting houses, replacing gutters and windows, repairing stairs, tackling minor plumbing jobs and more. His long-range plan was to own 2- and 3-family apartment houses that needed work. He was setting himself up to do the work, or at least he would know how to judge work he hired done. Today, he owns and manages several small apartment houses and is building up a significant retirement nest egg.
Starting a small business is a now or never proposition. I'm fond of quoting the Good Witch of the North in the Wizard of Oz. "The place to begin is at the beginning," she told Dorothy. As we all know, we make our own beginnings.
If you are stuck in a job you don't enjoy, start making plans to leave. Start your own business built around something that causes you to jump out of bed in the morning. Your dream becomes your alarm clock.
There is never a "right time" to start a business. Get your thinking straightened out. Stop wasting time. Get at it.
Tuesday, January 26, 2016
Intro to crowdfunding
Free daily tips, information, advice and ideas
to help you better manage your small business
Small business begins with an idea. To turn that idea into reality takes money. Sometimes, it takes lots of money.
Not all small businesses can attract the funding they need. A therapist's office, for example, will not get much of a hearing at the local bank's loan window. The same is true for an art gallery.
Likewise, a start-up farm or landscaping business needing funds to get off the ground will be hard-pressed to find a loan. You either use your own money or you tap into a network of friends and family.
On the other hand, some business ideas can attract attention. Establishing a new wellness center in town can attract funding from the community it will serve. And a new computer game might get funded by perfect strangers looking to invest in technology.
Crowdfunding -- One of the hottest funding mechanisms today is crowdfunding. And it is being used to fund some operations.
Crowdfunding is exactly that. The funding dollars come from crowds of people unknown to you. You go on the net, tell people what you want to do, and the dollars might roll in from the crowds that see your proposal.
Or they don't. The successes that have used crowdfunding get lots of publicity. While the high fliers have raised mullions, most raise a few thousand at most. And some get no interest at all.
Third party businesses have sprung up to handle the process. They work like a dating service--sort of. Your business or idea needs funds. There are many out there who have a few extra dollars. The third party provides the platform where everyone meets and agrees to whatever rules apply.
To begin, do your research. Google "crowdfunding" and you'll get lots of possibilities. Among these, sort through the platforms you might use. Some sites you'll find are Kickstarter, Fundable, Indiegogo, EquityNet, Microventures, CircleUp, and Selfstarter. There are many more.
Some have minimums and some impose a time limit on the process. Others require an equity position in your business. Some won't take non-profits. And then there are those that just bet on the individual.
Know where you are headed before you jump into this pond. The platform in this business--is a business itself. Somehow, they must get paid for the service they offer. Dig into it.
Crowdfunding can be a godsend for your small business. Before you go for this, however, always do your business plan.
to help you better manage your small business
Small business begins with an idea. To turn that idea into reality takes money. Sometimes, it takes lots of money.
Not all small businesses can attract the funding they need. A therapist's office, for example, will not get much of a hearing at the local bank's loan window. The same is true for an art gallery.
Likewise, a start-up farm or landscaping business needing funds to get off the ground will be hard-pressed to find a loan. You either use your own money or you tap into a network of friends and family.
On the other hand, some business ideas can attract attention. Establishing a new wellness center in town can attract funding from the community it will serve. And a new computer game might get funded by perfect strangers looking to invest in technology.
Crowdfunding -- One of the hottest funding mechanisms today is crowdfunding. And it is being used to fund some operations.
Crowdfunding is exactly that. The funding dollars come from crowds of people unknown to you. You go on the net, tell people what you want to do, and the dollars might roll in from the crowds that see your proposal.
Or they don't. The successes that have used crowdfunding get lots of publicity. While the high fliers have raised mullions, most raise a few thousand at most. And some get no interest at all.
Third party businesses have sprung up to handle the process. They work like a dating service--sort of. Your business or idea needs funds. There are many out there who have a few extra dollars. The third party provides the platform where everyone meets and agrees to whatever rules apply.
To begin, do your research. Google "crowdfunding" and you'll get lots of possibilities. Among these, sort through the platforms you might use. Some sites you'll find are Kickstarter, Fundable, Indiegogo, EquityNet, Microventures, CircleUp, and Selfstarter. There are many more.
Some have minimums and some impose a time limit on the process. Others require an equity position in your business. Some won't take non-profits. And then there are those that just bet on the individual.
Know where you are headed before you jump into this pond. The platform in this business--is a business itself. Somehow, they must get paid for the service they offer. Dig into it.
Crowdfunding can be a godsend for your small business. Before you go for this, however, always do your business plan.
Monday, January 25, 2016
Raising your prices
Free daily tips, information, advice and ideas
to help you better manage your small business
Many small businesses operate on a thin margin. Income scarcely exceeds expenses, leaving little to grow and expand.
When this happens, owners should give some thought to raising prices. You might be letting your competition guide your pricing--instead of the marketplace.
The market for goods and services is all over the place. You can price low and attract the bargain seekers. You can price to meet the competition and struggle to bring clients and customers to you instead of to your competitors. Or you can price higher and attract a higher end market segment.
Example: A baker will not sell many cupcakes priced at $100 each. But that same baker can sell a creatively designed cake for a special occasion at $100--or more.
Example: A hairdresser can struggle to make a living pricing haircuts at $10. Raise the price to $50 and the bargain seekers go elsewhere. Raise the price to $100, and you define a market segment of people who seek you out for your special cuts.
These two examples show what can happen when you target a certain market segment. Your pricing will position your business in the minds of your potential customers. You are branding your business.
Figuring out and targeting your client/customer base is crucial to growing a healthy business. Adjusting your pricing to a particular market segment helps you do this. You want clients/customers who appreciate--and will pay for--your quality product/service and your superior customer service. You price to attract these people.
Example: A fabric artist who designs and sells women's accessories priced competitively with WalMart will struggle to make a living. By raising prices for a scarf or hat to $100 or more, the WalMart shoppers are weeded out in favor of a more selective and appreciative crowd.
Example: A pet groomer who offers an inexpensive grooming service can double or triple prices by offering a little more. Get the word out to drop your dog off on the way to work and pick up after work. The groomer not only grooms but "babysits" the dog all day. The client will pay much more for the convenience.
Figure out what market segment you want to serve. Then price accordingly. Price too low, and people think you product/service is not worth much. By pricing higher, you define the market you want to serve and you end up with a much healthier business.
Pricing must match the quality of your goods/services and your customer service. Brand your business with the prices you charge. Target your customer base with your pricing.
to help you better manage your small business
Many small businesses operate on a thin margin. Income scarcely exceeds expenses, leaving little to grow and expand.
When this happens, owners should give some thought to raising prices. You might be letting your competition guide your pricing--instead of the marketplace.
The market for goods and services is all over the place. You can price low and attract the bargain seekers. You can price to meet the competition and struggle to bring clients and customers to you instead of to your competitors. Or you can price higher and attract a higher end market segment.
Example: A baker will not sell many cupcakes priced at $100 each. But that same baker can sell a creatively designed cake for a special occasion at $100--or more.
Example: A hairdresser can struggle to make a living pricing haircuts at $10. Raise the price to $50 and the bargain seekers go elsewhere. Raise the price to $100, and you define a market segment of people who seek you out for your special cuts.
These two examples show what can happen when you target a certain market segment. Your pricing will position your business in the minds of your potential customers. You are branding your business.
Figuring out and targeting your client/customer base is crucial to growing a healthy business. Adjusting your pricing to a particular market segment helps you do this. You want clients/customers who appreciate--and will pay for--your quality product/service and your superior customer service. You price to attract these people.
Example: A fabric artist who designs and sells women's accessories priced competitively with WalMart will struggle to make a living. By raising prices for a scarf or hat to $100 or more, the WalMart shoppers are weeded out in favor of a more selective and appreciative crowd.
Example: A pet groomer who offers an inexpensive grooming service can double or triple prices by offering a little more. Get the word out to drop your dog off on the way to work and pick up after work. The groomer not only grooms but "babysits" the dog all day. The client will pay much more for the convenience.
Figure out what market segment you want to serve. Then price accordingly. Price too low, and people think you product/service is not worth much. By pricing higher, you define the market you want to serve and you end up with a much healthier business.
Pricing must match the quality of your goods/services and your customer service. Brand your business with the prices you charge. Target your customer base with your pricing.
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