Western Cape records more than 1,000 new infections as death toll rises to 562
Lockdown regulations for levels 3 & 4 declared invalid and unconstitutional
[LISTEN] Wynberg Girls High pupil pens powerful #BlackLivesMatter poem
'City in breach of court order' as Culemborg homeless site deadline missed
It would be risky to have had a blanket opening of schools - Motshekga
Lester Kiewit talks to Minneapolis advocate about roots of anger behind protests
University of Pretoria launches free National Support Portal for SMMEs
What is the cash register till showing for small enterprises?
Are job opportunities picking up for domestic workers again?
Fugard Theatre brings the performing arts to your living room with new platform
Kids don’t die from Covid-19, or spread it - SA Paediatric Association
So far TMNP is the only option for Capetonians to go hiking under level 3
Contact and non-contact sport training to resume. Golfers, surfers seek clarity
[WATCH] Sports Minister gives details on Level 3 lockdown regulations
'Play rugby properly! No need for half-baked ideas just to have something on TV'
Setting prices is an art. But it’s also a science. Here’s how to do it…
Small business guru Pavlo Phitidis (he’s the founder of Aurik Business Accelerator) received the following direct message (DM) on Twitter from a regular listener of Bruce Whitfield’s The Money Show:
The pricing game is emotional... Suppliers raise prices and you forced to decide:1-do you segment and risk alienating the very people you want to be serving 2-Run at a loss until economies of scale kick in and you can negotiate a better bulk cost price. HELP!!!
— Sbu Mkatshwa (@sbumkatshwa) July 25, 2019
In answering the DM, Phitidis explained the three levers that go into price-setting:
-
How to set it
-
How to sell it
-
How to maintain it
Price-setting is a science and an art.
Listen to the interview in the audio below to learn how to temper your emotions when setting prices.
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
This article first appeared on 702 : Setting prices is an art. But it’s also a science. Here’s how to do it…
More from Small Business Focus
Wealth strategies for small businesses - income or equity?
Income or equity – what is the difference?
Read More
Positioning your business for success
Positioning your business for success - what does this phrase even mean?
Read More
'Business concepts and jargon I wish can be banned in 2020'
These business concepts get a thumbs down.
Read More
Want to start a small business? Lessons from a successful serial entrepreneur...
The Money Show’s Bruce Whitfield interviews Nic Haralambous, founder (at the cost of R5000!) of funky sock company Nic Harry.
Read More
7 steps to building a business you can sell
Pavlo Phitidis (founder of Aurik Business Accelerator) advises on turning your business into an asset of value.
Read More
How to build a business you can sell
Small business expert Pavlo Phitidis discusses his book "Sweat, Scale, $ell: Build Your Business into an Asset of Value™".
Read More
'Emigration is draining skills, destroying the future of South Africa’s economy'
Small business guru Pavlo Phitidis shares shocking anecdotes and advises business owners on how to address this challenge.
Read More
Considering emigration? How to sell your small business
Small business owners are constantly approaching Pavlo Phitidis for advice on selling so they can emigrate.
Read More
Your history – not your reality – often determines how you build your business
Three growth strategies – aggressive, defensive, passive - dominate. Your history drives your choice, says Pavlo Phitidis.
Read More
Small business owner, nobody will save you!
There are no shortcuts. Beware of "White Knights and Silver Bullets", warns Aurik Business Accelerator founder Pavlo Phitidis.
Read More
Highlights