Pricing Strategy

These tools can be your first step towards small business success. Then, get advice to help you on your way.

Business Planning Templates

Use the templates below, then meet with a SCORE mentor for expert business planning advice.

About the Author

Special thanks to the Seattle SCORE Chapter for developing these user-friendly planning templates.

Broward SCORE supports South Florida Minorities

Date
Fri, 2014-03-21 01:02

Broward SCORE Participated in South Florida Minority Supplier Development Council’s 29th Annual Business Exposition on March 21st, 2014.

SCORE Volunteers Angelica Love Valentine and George Gremse informed attendees about SCORE services and discussed business counseling and workshop programs.

Despite the increased complexity and ever-changing nature of today’s pricing environment, there are still some basic rules and simple tips you can follow to build your market share, make money in the process, and establish long term success. 

Here are some considerations to review to maximize your pricing results.

Pricing products or services used to be a relatively straightforward process. You would:

  • Calculate your costs
  • Determine how much profit you wanted to make, and
  • Add appropriate brand value.

You would then tweak your pricing model a little bit with promotions, clearance sales, supply and demand considerations, seasonality, and product life cycles.

About the Author

Bert Shlensky HeadshotBert Shlensky is an expert in Internet Marketing and apparel. He's also very knowledgeable in trade (import and export business) and integrating strategy and logistics. He brings over 30 years of executive experience as a results-driven executive leader in the textile, apparel and internet marketing fields. Bert has a strong track record of achieving growth and operating profitability in start-up, internet and turnaround businesses. Most recently, he initiated several entrepreneurial startup businesses selling home furnishings on the Internet, which achieved sales within 6-10 months of their funding and had a major Internet component. These programs were all based on combining Chinese production, Internet marketing, SEO, PPC, social media and innovative logistics to market high-quality home furnishings to consumers.

Cash Flow Template in Excel 

SPANISH: Elaborando un Estado de Perdidas y Ganacias

Summary

Este negocio en línea le ayudará a: desarrollar un estado de pérdidas y ganancias de su empresa mediante la aplicación de un solo paso o multi-paso declaración con formato

SPANISH: Como Dirigir Una Empresa Rentable

Summary

Este taller de negocios online gratis ayudará con: identificar sugerencias para ayudarle a dirigir una compañía rentable.

 

Valuing a Business

Summary

This free online business workshop will help you: determine which business approach model (income, asset, or market) will best serve your business for creating value. 

 

Valuing a Business Workshop image

Running a Profitable Company

Summary

Running A Profitable Company

Summary

This free online business workshop will help you with: identify tips to help you run a profitable company.

Pricing Products and Services

Summary

This free online business workshop will help you: develop correct pricing for your company's products and services using market research, pricing models, and other pricing techniques.

 

SCORE ExpertAnswers

No matter the small business, each entrepreneur faces one similar issue: Pricing. Are you out pricing your customers? Are you under pricing yourself? Is the difference between a year in the red or the black as simple as your price tag? This month SCORE helps you find the answers to these questions.

Few people are better qualified to discuss this issue than Ann Logue, who spent 12 years as a financial market analyst before turning her talents to writing. She also shares her expertise as a lecturer in finance at the University of Illinois at Chicago, teaching both undergraduate and MBA students about corporation finance and international financial markets. Ann will go over the finer points of pricing to help you maximize your pricing for profitability. 

Q:

Pricing is something that all small businesses wrestle with, particularly those just getting started. What are the fundamentals for determining the ideal price for a product or service?

About the Author

Ann Logue - Author and Business Analyst

Ann Logue is a freelance writer and consulting analyst who is fascinated by business and technology. She has a particular interest in regulatory issues and corporate governance. She is the author of Emerging Markets for Dummies, Socially Responsible Investing for Dummies, Day Trading for Dummies, and Hedge Funds for Dummies, and has written for Barron’s, InvestHedge, Newsweek Japan, and BusinessWeek Chicago, among other publications. As an editor and ghostwriter, she worked on a book published by the International Monetary Fund and another by a Wall Street currency strategist. She is a lecturer in finance at the University of Illinois at Chicago. Her current career follows 12 years of experience as an investment analyst. She holds a B.A. from Northwestern University, an M.B.A. from the University of Chicago, and the Chartered Financial Analyst designation.

 

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