|
|
|
There is always a discussion with businesses about the prices that are charged for a product or service. If the price is $12, a business owner will wonder if they can sell a lot more of the product if the price is reduced to $10. This calculator helps to answer that question from two perspectives. The first part of the answer is to tell you how many more you have to sell to make the same amount of gross dollars of sales. The second calculation will tell you how many you have to sell to make the same amount of gross profit dollars. With each calculation, you are then left to make a decision. You know now how many more you do actually have to sell; you then ask yourself if you believe that is an achievable goal. Remember that in achieving the goal, you are not making any more profit or any more sales dollars, you are just selling more units to produce the same gross sales dollars or gross profit dollars. |
APRIL 2024
|
With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.
Small Business
"What's your score"? is the name of the April Small Business Advisory. This provides an introduction to our return on investment calculator. It is a great way to understand how well the investment you have in your small business is working for you.
Small Business
We believe Thursday, April 25 is an important annual celebration for small businesses. While the name of the celebration has varied over the years, the focus is for us to take kids to work with us.
This is important for the kids to see what it is we do. They definitely are not going to learn about it in school. Reading the April Small Business News you will see an example from community pharmacists that emphasizes it is up to us as small business owners to introduce kids to what we do.
While titled, "If not price", the April Article of the Month is asking the question about the focus of your small business in attracting and keeping customers.
If there is not something very special about your business, then the only attraction to your businessis that of a low price.
"The plan as you go business plan" is the April book of the month. The author is Tim Berry who has also created software on the same topic.
I do not agree with the concept of "fill in the blank" or "create the plan as you need it" because my experience has been that you do not have as strong as a connection and understanding to your business plan unless you do it yourself and you dedicate the time to create it.
