Sometimes I run into articles which are so lethal for the bottom line of a small business, I can’t just hit delete and move on. Thoughts on the importance of market share and pricing power for a small business.
George Westinghouse (well, Hollywood’s depiction of him, anyway) helps illustrate the value equation.
Maybe you’ve been laid off. Maybe you’re one of the seeming few able to retire from the corporate world gracefully, but you don’t want to completely hang it up. Whatever the reason, if you’re considering buying a franchise, do NOT buy one in which the franchisor can control the pricing of your product or service. I explain in this post.
So what do you do when you don’t know what to do? That’s what a lot of business owners face as they navigate the current economic environment. (The answer, by the way, is what you should be doing anyway, even if you are convinced you’re on the right track.)
I recently fielded this question in a presentation I gave, and it’s timely, as a number of businesses have either implemented such a charge or are considering it. Here’s my answer.
A story on hourly billing gone wrong from Simon Sinek’s book “The Infinite Game.”
Wherever you find yourself right now, whether your business has just fallen off a little, a lot, or maybe even collapsed, there’s one consistent principle in recoveries: they come from small and steady steps. A story of loss, grief, despair, hope, and recovery.
Chaos disrupts, but it also reveals. Your clients and prospects have been upended, revealing new opportunities for you to add value.
© 2018 Ray Business Advisors, LLC.