Nailing pricing is something retailers, both large and small, struggle with. Although most of us don’t delight in running endless columns of numbers, if it were only a matter of doing the math and figuring out total cost and profit margins, pricing would be fairly simple. But alas, there many more factors at play. Perception for one plays a particularly pivotal role, and there is of course, the competition to consider. Picking your customers’ brains and implementing psychological strategies are imperative aspects in the quest for the pricing sweet spot, and a bit of testing and tweaking can work wonders on your bottom line. Before you go ahead, and set anything in stone, here are some studies to consider. Read the full entry
Nailing your investor pitch is an important part of clinching funding. But who hasn’t known someone who bombed that conversation? So before you write your next pitch, keep in mind these surefire ways to lose a potential investor’s interest as explained by 10 successful founders from YEC. Read the full entry
Now that figure fluctuates depending on the company and industry, but it’s still an imposing amount of money to a brand new entrepreneur. There are plenty of traditional ways to raise capital to start your business – getting a loan from a bank, borrowing money from family, dipping into your savings. But what if you don’t want to clear out your bank account, or bother your parents, to get your company up and running? Keep these lesser-known options in mind to help you get started, depending on how much you need. Read the full entry
Your day started great – until you found out about the overnight data breach at your business. Some hacker broke into your server and stole thousands of credit card numbers from your customers in addition to confidential company data. What now?
If you and other company leaders have planned ahead, you have cyber liability and data breach coverage as part of your business insurance package. If not, you’ll face weeks, if not months, of contacting customers and doing damage control. Read the full entry
There’s a ceiling customers won’t go above, but below that is often a broad range of prices they’re willing to pay.
What customers really want is the greatest value. Read the full entry
You’ve probably bought commercial liability coverage to make sure you won’t lose your business because a customer or client slips and falls – and sues. That’s a great reason – the cost of slip-and-fall incidents averages nearly $24,000. But commercial liability coverage doesn’t stop there – most policies also cover “personal and advertising injury coverage.” Read the full entry
501(c) exemptions tend to be a bit misunderstood, and too often you’ll hear people wondering how political groups, or organizations like the NFL, are give tax-exempt status. The problem is that, when most people think about tax-exempt organizations, they are picturing corporations that have filed for 501(c)3 status. Read the full entry
You have all the elements necessary for a successful business – a great product at the right price, a profitable location, and enough funding for marketing. You’ve even thought of insurance – your commercial property policy protects the building from all sorts of calamities, even vandalism. What could go wrong? Read the full entry