By Maintenance Guy | Business Lifestyle , Business Systems , Relationship Selling
Exactly so, John. Although I myself avoid MLMs at all cost, I know several other people who have done quite well for themselves and are generous, understanding, dedicated people who genuinely believe in their products as a solution to an issue, not jus…
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Exactly so, John. Although I myself avoid MLMs at all cost, I know several other people who have done quite well for themselves and are generous, understanding, dedicated people who genuinely believe in their products as a solution to an issue, not jus…
Continue readingBy Maintenance Guy |
I agree with you, John, that the difference between markup and margin and is one of the most important factors in the success of a small business. The confusion between these two areas is one of the main reasons that companies under-cost goods and serv…
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It has always been disheartening to see companies that try to set up profit and loss statements without an understanding of why they are doing it. Companies that have their revenue streams and profit centers lumped together are simply missing the big p…
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Just like you mention in your post on labor burden, the number of companies that fail to calculate their true cost of goods and services sold because they do not properly allocate overhead is astounding. Even if the company has taken the time to calcul…
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I have always have been surprised that small businesses are slow to understand that the fastest way to increase profits is to cut waste. Increasing market share at an ever decreasing profit margin is a very good example of a law of diminishing returns….
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Discounting pricing in general is a slippery slope to economic ruin. When you discount your prices to bring in customers, you set an expectation with those customers that your goods or services are not worth the price that you normally charge. Further,…
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I have always been surprised at how many small companies have no idea if they are making a profit. I mean, they know they are making money. They know they are paying bills. But for so many small business owners the connection between making money and p…
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One only has to look at the recent economic catastrophe to understand the problems associated with credit. Companies need a constant cash flow, and corporate and personal credit is too often used by small businesses just to make ends meet. The enormous…
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Repeat business has always been the best revenue earner for sales. Obviously, small businesses want to get customers back in for a long time. One thing to be aware of in this area, though, is that closing the sale for first-time customers using a disco…
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