The premium price lesson taught by craft beer

The craft beer explosion in the US over the last 5 to 10 years is a great lesson in premium price / premium product / premium services and customer ascension. So what is the big lesson to learn from craft beer? Is it that you could make beer that only a certain percentage of the […]

Pricing custom work well is a strategic advantage

How good is your business at pricing custom work? If you don’t have a way of pricing custom work that consistently accounts for your costs and labor, how do you know if you’re making any profit on these deals? How would it feel to find that you’re losing money on half your custom work? Do […]

Value and meaning depends on your viewpoint

photo credit: x-ray delta one There are at least two takeaways in this piece about historic Russian space equipment being sold on the open market. First, know the difference between the value of the least common denominator of your skill (say, swinging a hammer) and the value of knowing exactly where to hit and exactly […]

Are experts cheap or expensive?

Are experts cheap or expensive? You may not be old enough to remember the Fram guy, but he’s the perfect example of the expert who can be cheap or expensive. The cheap expert is the one who gets paid to take care of routine maintenance that prolongs the life of your asset – in this […]

How to fine tune your pricing

photo credit: h.koppdelaney What do you focus on when it’s time to improve profitability? Sometimes barely twisting a knob can make all the difference. This 8 minute and 30 second running stride analysis video might be a little dry if you’re not a runner, but the focus on small improvements and 300FPS video to break […]

All else is seldom equal

photo credit: Luz Adriana Villa A. A question came in earlier this month… “How do I compete with businesses that can offer similar products/services at a lower cost?” The question is “Why are you depending on price to close your sales?” It’s important to examine because *so many* people focus on it. In a weak […]

A number you’d care about

photo credit: Pink Sherbet Photography Last time, we talked about those 10 things that cause small businesses to fail, and zeroed in on the business model as most important of all. There’s usually a reason you got into the business you’re in, but whether you love it or just chose it for the money, the […]

How’s your soup?

photo credit: Hamed Saber A few weeks ago, the NY Times’ “You’re the Boss” blog (which discusses small business topics) had a piece from Chicago entrepreneur Jay Goltz about the 10 reasons small businesses fail. It’s a laundry list of pretty fundamental stuff, much of which we regularly talk about here: a business model whose […]

Paper. Ink. Electrons. Winston Churchill. Charles Manson.

photo credit: kekremsi Recently, the New York Times published a story about changing prices for books in print and how those prices compare to prices for electronic books. In particular, the story focused on comparison pricing occurring at Amazon.com for books published both in paperback and for the Kindle, a very popular eBook reader manufactured […]

Does it make you squirm?

photo credit: ToastyKen The oft-referenced-here Cialdini work “Influence” speaks in volume via today’s guest post from Rob’s IM Reports. While the guest post’s video is intended to be funny, it does a nice job of illustrating a situation most of us have faced at one time or another. You might also have created some of […]