When you’re first starting out as a new business, how do you know what price to charge for the products or services you offer? You want to make a profit, that’s why you started a business, but you also need to be realistic in what you charge, otherwise people might not buy. It’s a tricky balance to master between covering costs and making a profit if you want your business to grow. Here are some tips on setting the right price for your products or services:
- Consult your Business Plan – Obviously, you started a business in order to make some money. Consider how pricing will affect your ability to grow and expand your business and plan accordingly.
- Understand your Costs – As you should well know, it costs money to make money (or a product or to provide a service). It’s not enough to cover your costs; in order to survive and grow as a business, you need to factor in profit, too, after costs. Costs go deeper than producing the product itself. You probably have to pay rent, pay employees, and pay suppliers, among others. All of these will affect the price you charge for your product or service.
- Look at your Competition – Chances are your customers are too. If the products your competitors offer are similar enough to yours, you can probably base your prices off what they charge. If you offer the same product and then some, that is an additional service or a higher quality product, then you can bump up your price a little. It is good practice to compare the net prices as opposed to the listed price.
- Know the Market – Research and study outside factors that influence the demand for your product. These factors are fairly flexible and can range from the price of the materials you use to produce your product, to a change in the taxes or income levels your customer base can expect in the near future, either lower or higher. Again, you should research your competitors’ trends as well.
Choosing the right price for your products and services can mean the difference between making a reasonable profit and robbing people blind / being robbed yourself. Know the products or services you offer, or rather what your competition is charging, and see if you can match or beat those prices while still making a profit.
(Initial or Renewal Course based on the 2015 AHA Guidelines)
Basic Life Support (BLS) is the foundation for saving lives after cardiac arrest. This course teaches both single-rescuer and team basic life support skills for application in both in-facility and prehospital settings. This course is designed for healthcare professionals and other personnel who need to know how to perform CPR and other basic cardiovascular life support skills.
In addition, BLS training can be appropriate for first responders, such as police officers and firefighters, as well as for laypeople whose work brings them into contact with members of the public, such as school, fitness center, or hotel and restaurant employees.
Students must pass a written exam and skills test in order to qualify for a BLS Course Completion Card.
Upon successful completion of this course, students will receive a completion cad valid for 2 years.
Conveniently scheduled on Saturday, please choose the session that works best for you.
A Pitch Deck is a brief presentation (sometimes called a slide deck or pitch slide deck) where a business communicates with potential investors. Usually the content of the pitch deck can help the investor to determine whether or not to continue evaluating/financially supporting your business. In addition, these presentations are typically an overview of a company’s business plan with potential investors, customers, partners, and co-founders. Many times these meetings are face-to-face or, possibly, through online meetings. So, how can a company perfect their “pitch”? What are some key points to be sure you cover as well as mistakes to avoid in presenting your Pitch Deck?
Key Points to Include:
Engage your audience right off the bat! Presenters need a hook or story to start their presentation in order to capture the attention of the audience. Tell a short anecdote about the company or your brand. The more you can humanize the business the more the investors will be interested. Make a powerful first impressions because the first 2-3 minutes are the most important in any presentation.
Keep your presentation short. Cover your pitch in broad strokes and insert important details as you go. This includes limiting each slide to one idea at a time. As you go through your presentation avoid reading from notes or directly from the slide. Everyone in the audience knows how to read and wants to hear the words from you instead of being read to.
Know your topics well. Along the same lines as the advice not to read from your slides or from a speech, know your topic inside and out. Understand the metrics and be able to speak to them in depth if necessary, or if questions arise. Anticipate questions that may come up and be prepared to answer them.
Show off the team members. One of the biggest assets of any company are the people that work there. Highlight the specialties of the main team members. Focus on a significant, relevant accomplishment for each person in a team that identifies that person as an asset.
Be clear and precise. During your pitch be sure to hit key points such as: the benefits of your company, why you are unique and special, how your company has the competitive advantage and, of course, your financial projections.
Keep a cohesive presentation look. Believe it or not, your brand will come through with your slides so keep the look, color palette, font and logo consistent on all of your slides. This will also go a long way to make your presentation polished and professional.
All owners, managers, and leaders want their valued employees to have the proper tools and knowledge to succeed at their job. No department needs this more than the sales staff in your business. Correctly training your sales team can give them the appropriate tools and knowledge to take them from mediocre to a force to be reckoned with in no time. There are three main areas that sales team members should be trained. They should be thoroughly acquainted with the company’s products and services. They should be extremely familiar with the field that your company most especially close competitors. Finally, the sales team should be well-versed in sales techniques that are in line with the goals and personality of your brand. Here are some training tips for these three critical areas.
Product and Service Training –
- Have the sales team not only review the products but, if possible, witness the service that is provided so they have first hand knowledge and can speak from experience rather than a guidebook.
- Where possible, have the team use the product or shadow a service member so they can become aware of uses, problems and solutions that may be typical for your products/service.
- Have younger sales people “buddy” or “shadow” older sales team members so they can learn the ropes. They will quickly get used to common questions, answers and then be able to anticipate them in the future.
- Create a sales manual for easy reference when questions arise.
Industry Training –
- Hold regular sales team and staff meetings updating them on new innovations in your field.
- Make industry journals and websites easily available so sales staffers can keep up when they are in the office.
- Encourage staff to learn about competitors both local and national.
- Keep staff up-to-date on industry news with quick bulletins via email or newsletters.
- Encourage training sessions held regionally so sales people can see what the competition is all about.
Sales Skill Training –
- Give all sales members technology that will help them stay organized. For instance some sort of customer relations management software program is a good idea.
- Invest in sales training classes for newer members of your team.
- Hire not only with sales education and experience in mind, but also weigh the persons personality and how it jives with your product and services.
- Use role playing regularly or other techniques that could help in sales numbers.
- Keep rewards coming! Let all staff know about the chances for advancement or monetary rewards.