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BRANDING

Even hard work and perseverance don’t guarantee your business will survive

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“I guess having my own business is better than working for someone else. At least I get some perks for being the boss.”

That is what I used to tell myself years ago when I owned a business in another industry. Like everyone else, I had good days and bad, but I didn’t like to think about the future. Besides, I figured it was best to focus on the day at hand or there would be no future to worry about.

Unfortunately, what I didn’t know caught up to me. …


BRANDING

It’s all about perceived value

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At one time or another, we have all experienced the fear of being undercut by a competitor. If you haven’t faced this dilemma yet, you most certainly will. But for most of us, pricing is a never-ending battle. Determining how much to charge is one of the most important decisions you’ll make.

After you finish this article, you will know:

  • The real reason so many businesses struggle with pricing
  • Why “value” won’t help you make sales and what to focus on instead
  • How the right strategy will help you overcome price pressure once and for all

There are two problems most business owners face when pricing their products and services. Let’s look at each in detail. …


BUSINESS

What every small business owner should know about pricing

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Most small business owners work hard to take care of their customers. They also know their product or service is probably worth a lot more than they charge. And while they would love to raise prices, they aren’t sure how their customers might respond. Besides, it’s tough enough to sell at current price levels. The last thing any business owner wants to do is raise prices and send customers running to a competitor.

Yet certain brands thrive despite charging more than everyone else in the market. Many of us assume these premium brands have, in some way, earned the right to reign supreme. …

About

Chris Fulmer

Small Business Brand Planner/Strategist | Differentiation-maker | www.goldenvineyardbranding.com

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