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Monthly operating costs - including payroll, utilities, and insurance - fall into the category of operating expenses. Like federal, state, and local taxes, they require that enough funds are available at the due time. If you decide to hire employees and then realize you can't pay them, they will not work for you. If you don't pay your taxes, the government might shut you down until you do.
Published by Levy Dalumpines 83 months ago in Managing A Home Business | +2 votes | 0 comments
Competitive pricing is generally used when there is an established market price for a particular product or service. To employ competitive pricing properly and effectively, it is imperative that you know exactly what prices each of your competitors has established.
Published by Levy Dalumpines 83 months ago in Managing A Home Business | +2 votes | 1 comments
Many novice home-based entrepreneurs confuse wages and profit. You must deduct your wages (the money you are going to live on) from the revenue as well. Then, what's left over is profit. Including a profit margin in your pricing strategy is the only way to ensure that your company will actually produce a profit, rather than simply providing you with a wage.
Published by Levy Dalumpines 84 months ago in Managing A Home Business | +3 votes | 2 comments
Whether your home-based business sells a product or provides a service, the price you charge your customers or clients will have a direct effect on the success of your business. Pricing strategy and computations can be complex, but the basic rules of pricing are straightforward.
Published by Levy Dalumpines 84 months ago in Managing A Home Business | +3 votes | 2 comments
The price you charge for your product or service may have a direct impact on the ultimate success of your business. Finding a price that appeals to customers and still gives you an adequate profit margin is a key to success.
Published by Levy Dalumpines 84 months ago in Managing A Home Business | +1 votes | 1 comments
Regardless of which advertising medium you select, the words and images you use to deliver your message are critical. Your advertising response plays a dynamic role in your overall marketing plan. The primary goal of your message, its ultimate purpose, is to capture the public's attention.
Published by Levy Dalumpines 84 months ago in Managing A Home Business | +3 votes | 2 comments
Even the most reserved of entrepreneurs can start up their own focus group, networking club, or trade organization in their area. With a little promotion through a local business journal (perhaps a calendar listing of the date, time, and location of your meeting) or even a flyer at the local library or business resource center, you may find some interested parties.
Published by Levy Dalumpines 84 months ago in Managing A Home Business | +0 votes | 0 comments
Like most start-up home-based business owners, you will not have a lot of money to spend on traditional advertising. There are other ways you can spread the word about your business without breaking the bank. Try some of the following tactics to jump-start your marketing efforts.
Published by Levy Dalumpines 84 months ago in Managing A Home Business | +2 votes | 0 comments
Today, the SBA has a multibillion-dollar loan fund that is distributed both as direct loans and as trough guarantees made on loans issued through local banks. In its 50-plus years, the SBA loan program has effectively helped nearly 1 million small business owners get the money they need to develop products, hire employees, and purchase equipment.
Published by Levy Dalumpines 84 months ago in Managing A Home Business | +2 votes | 0 comments
Banks are probably the most visible source of ready financing, and you should already have contact with a few through your personal accounts. Most banks will require some sort of collateral as security for a loan. Banks will also want to know the purpose of the loan, so be prepared to show them your business plan.
Published by Levy Dalumpines 84 months ago in Managing A Home Business | +3 votes | 2 comments
Starting a business from home significantly reduces the amount of start-up capital you'll need in the beginning, but you will still need a substantial amount to pay for sales materials, production materials, office supplies, phone usage, and other necessities.
Published by Levy Dalumpines 84 months ago in Managing A Home Business | +3 votes | 1 comments
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