The most important element of your pricing strategy is that it needs to sustain your business. Your selling price needs to be able to keep you in business. If products are set at a high price and potential customers don’t buy, you’ll lose market share. If you set your prices too low, you’ll be selling at a loss, or at an unsustainable profit margin. Fortunately, there’s a simple way to price products so you sell profitably. By using thorough market research and understanding your ideal customers, you can land on a pricing strategy and final price that works for you.
Self-Care and Mental Health Resources for Small Business Owners
Staying on top of your mental health while your are running your business increase your chances of achieving peak productivity. Read on for actionable tips and resources to help you prioritize self-care as an entrepreneur.
Do you have a hobby or just passionate about making your favorite soap, candy, or art? Selling handmade goods is an ideal first business for aspiring entrepreneurs. In most cases these businesses can be started from home with minimal upfront investment. Ahead, explore ideas for things to make and sell online, with suggestions for every skill level from beginner to advanced craftsperson.
4 Small Business Collaboration Ideas to Boost Your Sales
You’re a small business owner, not a big box retailer—great!
In today’s world, you’ve got a leg up on big corporations because you’re a real person with a pretty great face and can give personalized service. And today’s consumers want to spend their hard-earned cash supporting small businesses; this is an advantage you should leverage any time you can.
One of the best ways to do that is to work with your fellow small businesses.
Holiday Readiness Guide: 10 Ways to Prepare for Black Friday and Cyber Monday 2022
Black Friday and Cyber Monday (BFCM) are only a couple of weeks away. For retaillers this time of year can make or break you, and retailers around the world are working to find ways to meet the new era of holiday shopping.
BFCM is always a big deal in retail, and 2022 promises to be an exciting year for online and offline stores alike. Here’s a holiday guide with tips to prepare the busiest shopping days of the year November 25th and November 28th.
4 Ways to protect your small businesses against Cyber attack
Since the beginning of the COVID-19 pandemic, small businesses have quickly adopted remote working and transitioned to new technologies, such as contactless payments and online ordering. Sometimes, these adjustments come with risks.
Learn how to protect your small business from cyberattacks with these four tips.
Source: City News.ca, & The Associated Press; June 2022
Top Tips for Starting a Business While Working Full Time
Many entrepreneurs have full-time jobs while testing out their dream of owning a business. It makes sense that you can pay your bills and prepare for a different lifestyle before you take the leap to be your own boss.
This article provides tips for starting a business before you dive in full-time. Article source OWNR.co, July 2022
10 things you probably didn’t know about Canadian SMEs (Small Medium Enterprises)
If you’ve heard the phrase “small businesses are the engine of the economy”, it’s because 99.9% of businesses are small (less than 500 employees). In this article, you’ll learn the composition of SMEs in Canada, the percentage of businesses with less than 10 employees, and its BIG