Price, Sales Volume and Costs – Your Three Key Variables to Greater Profitability

January 26, 2012 by  | Leave a Comment Filed under: Marketing 

There are three key variables in any business that directly impact on your profitability. They are cost, price and sales volume. A small change of just 1% in each of these variables can have a dramatic effect on your profitability. This article explains why. If you have a business making a margin (read on...)

What Happens When the Pigs Don’t Eat?

January 13, 2012 by  | Leave a Comment Filed under: Sales 

Wayne, a feed salesman, pulls into the yard and greets Donny, the farmer, outside his barn. He steps out of his truck and exchanges a hardy “morning” with Donny. After a few comments about the weather, Wayne asks about the new feed Donny has been feeding his hogs. Last month Donny (read on...)

Cost Versus Value: ‘Ignorance’ – The Total Lack of Information About What Drives Price

November 12, 2011 by  | Leave a Comment Filed under: Sales 

YOU GET WHAT YOU PAY FOR AND SOMETIMES EVEN LESS It appears that people in many third world regions have a ‘passion for bargaining on price’. Unless they bargain intensely over the price of a product or service, they feel they have not done their duty as ‘smart business (read on...)

You Think You Have Reduced the Cost of Your Products As Much As Possible? Think Again

October 5, 2011 by  | Leave a Comment Filed under: Management 

Most companies rely on brainstorming or a few analyses to reduce the cost of their products. It looks like everything has been done, parts and products have been consolidated, everything has been re-sourced and re-negotiated through competitive RFQ’s (Request For Quotes), and various (read on...)

8 Better Ways To Cut Costs In Business

August 16, 2011 by  | Leave a Comment Filed under: Management 

As food for thought, consider the following eight tips for reducing expenses, offered by business specialists from around the nation: 1. Watch that inventory. Supply and demand isn’t important only in product or service pricing. It’s also critical when it comes to inventory levels. (read on...)

Benefits of Online Management Training

July 20, 2011 by  | Leave a Comment Filed under: Management 

The importance of developing the fundamental skills of a company’s managers has never been more important. In today’s economy, when organizations are struggling to positively differentiate themselves, an organization’s managers are the key individuals who inspire the workforce (read on...)

Indirect Costs Can Cripple a Business, Six Sigma Can Find Them

July 13, 2011 by  | Leave a Comment Filed under: Management 

Direct costs are those of doing business and are factored into the price of your product or service. Your business model shows you should be earning a healthy profit, but it is not reflected on the ledger sheet. The problem could be that the indirect costs of doing business are eroding your (read on...)

Internet Marketing Innovation

May 19, 2011 by  | Leave a Comment Filed under: Marketing 

The greatest dilemma that is faced by the contemporary business owner is the radical shift in methodology in how businesses can be effectively marketed. This has been significantly affected by the great electronic advancements in marketing. Therefore, businesses that wish to survive cannot be (read on...)

Use Six Sigma to Control Indirect Costs

May 14, 2011 by  | Leave a Comment Filed under: Management 

When it was started at Motorola two decades ago, Six Sigma was a quality control device used to make operations more efficient. The purpose was to eliminate defects in the manufacturing process that were threatening the future of the business because customers were no longer buying their (read on...)

Why High Quality at a Low Cost

April 26, 2011 by  | Leave a Comment Filed under: Marketing 

INTRODUCTION The post globalization era is undergoing a lot of change. The rise of new technologies has led to tremendous change in business. Companies fight among themselves and come out with new strategies to stand in the minds of the customers. TYPES OF CUSTOMERS There are 3 types of customers (read on...)