For many small businesses pricing products and services is more a matter of guesswork than logic. Mindful of competitor pricing, they make the mistake of simply undercutting to win business rather than carefully working out the price they need to charge – a price that not only covers the cost of doing business, but makes all the hard work worthwhile by returning a reasonable profit. (more…)
Posts Tagged ‘profitability’
Our Top 10 Cash Flow Tips
1. Know your business’ balance sheet thoroughly. This may sound obvious, but, as your accountant can confirm, many business people don’t know how cash flow works and its significance to keeping their operation afloat. (more…)
Analyzing Your Company’s Performance Using Financial Ratios
Financial ratios can be helpful tools in understanding a company’s financial health. They are a benchmark by which you can compare your business to industry standards and analyze changes over time. (more…)
Analyzing The Profitability Of Your Products And Services
Knowing the profitability of each individual product/service you provide can help you make decisions to improve your bottom line. You may want to discontinue products and services that aren’t particularly profitable while promoting the ones that improve your overall results. (more…)
