Key to Small Business Profitability Improvement: “Create a Budget and Use it Effectively”

David — Tue, 13 Sep 2011 14:16:30 +0000

On July 9th, I conducted a seminar – Small Business Profitability Makeover – for 25 exhibitors at the Fancy Food Show, in Washington, DC. Attendees learned how to:

refine their pricing tactics by checking out the competition
determine which product lines are profitable and which aren’t
save on purchasing by adopting tactics used by larger companies
determine when you need outside experts to cut costs, such as insurance, rent and utilities
tighten up their accounts payable process to improve cash flow
create an annual budget and use it effectively
manage expenses through accountability

When asked which item they thought had the most potential for their business, the majority voted for: “create an annual budget and use it effectively.” Determining product line profitability, and saving on purchasing also were seen as valuable techniques by the Fancy Food Show attendees.

Does any of this sound like it would be valuable in helping you improve your business? Much of this same material is now available on line as an archived webinar at the Ventureneer website.

Take the Guesswork out of Pricing

David — Mon, 30 May 2005 23:03:00 +0000

According to an Inc. Magazine article in the June, 2005 issue, now is an important time for business owners to be reviewing pricing. To get to correct pricing, you have to take costs, competitors, customers and salesforce feedback into account. But most of all, the value that your product or service provides should be considered when setting pricing.

Rudofsky Associates » pricing strategy

Key to Small Business Profitability Improvement: “Create a Budget and Use it Effectively”

Take the Guesswork out of Pricing