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  • Digg it UP - The Most Overlooked Principle To Raising Your Prices

    All You Need to Know about GAAP Accounting Standards: A Guide to Accounting Principles
    What is GAAP?GAAP, or Generally Accepted Accounting Principles, refers to rules and parameters set by the Accounting Practices Board of the American Institute of Certified Public Accountants. GAAP also includes certain established ways of accounting, which may or may not have been set by any authority.Aim of GAAP:GAAP aims toward making the accounting procedure transparent and make it easier for investors and creditors to get
    getting, they were more than happy to pay our pnces.

    Why would anyone pay more for the exact same thing? Once they found out what we were offering, they didn't perceive us as offering the same thing as the other marketing companies. When you don't educate them, they perceive you the same as the next business.

    If all things are equal, they will choose the cheapest price. Once you convince them and educate them, you no longer have to worry about it

    Make 2007 Your Business' Fastest Growing Year Yet With Asset Finance
    If you want to speed up your business in 2007, you'll need to fine-tune your business approach and utilise your resources to their full extent. However, like many business owners, you may be reluctant to tie up your capital. So where can you turn to if you're looking to finance major business-related purchases such as commercial vehicles, manufacturing machinery or IT equipment?The answer is simple: asset finance. Asset finance works in suc
    Finding customers isn't usually the hard part of selling. It's "closing" that can drive you crazy. You know the excuses. They want to shop around a bit longer, they're not sure they can afford the price, they need to get approval from a superior. The list goes on and on. Your challenge is to find ways to close prospects at a higher rate, and thereby speed growth and increase revenues.

    One sure fired way to increase revenues without damaging your reputation, is to educate your customers into your price increase first before doing it. You don't want to be worried about raising your prices. Most people are afraid to raise their prices.

    For example, one of my original companies operated at a marginal price just under the standard for the industry. We got a lot of business and kept the customers coming however, we didn't get much more business than the next guy whose prices were higher. We were always afraid to raise our prices and lose customers.

    Finally, we did. We got just as many customers and increased our bottom line by 35%. We then decided to raise our prices again. Still - same amount of customers.

    We ended up raising them even higher to almost double what we had originally started at. We did lose customers at that point. However, we had increased our fees so high that our margin was still much higher than it was before and we doubled our business. All by simply raising our prices.

    We had already delivered quality work and were confident in our products and services. All we did was raise our prices. To overcome people just looking for price, educate them. What we did was let them know about some of our follow-up services, our customer service plan, things that we naturally included in our service that other marketing companies didn't. By educating them and showing them what they were getting, they were more than happy to pay our pnces.

    Why would anyone pay more for the exact same thing? Once they found out what we were offering, they didn't perceive us as offering the same thing as the other marketing companies. When you don't educate them, they perceive you the same as the next business.

    If all things are equal, they will choose the cheapest price. Once you convince them and educate them, you no longer have to worry about it.

    Factoring Basics
    Most sales to commercial clients usually carry 30 to 60 day payment terms. This means that as a supplier, you must deliver your products or services now. However, your client has between 30 to 60 days to pay you.This creates a significant challenge for owners of small and midsize businesses. The problem is simple. Your clients want to pay you in 30 to 60 days, but you must pay rent, payroll and your suppliers now. As you can see, the math d
    tion, is to educate your customers into your price increase first before doing it. You don't want to be worried about raising your prices. Most people are afraid to raise their prices.

    For example, one of my original companies operated at a marginal price just under the standard for the industry. We got a lot of business and kept the customers coming however, we didn't get much more business than the next guy whose prices were higher. We were always afraid to raise our prices and lose customers.

    Finally, we did. We got just as many customers and increased our bottom line by 35%. We then decided to raise our prices again. Still - same amount of customers.

    We ended up raising them even higher to almost double what we had originally started at. We did lose customers at that point. However, we had increased our fees so high that our margin was still much higher than it was before and we doubled our business. All by simply raising our prices.

    We had already delivered quality work and were confident in our products and services. All we did was raise our prices. To overcome people just looking for price, educate them. What we did was let them know about some of our follow-up services, our customer service plan, things that we naturally included in our service that other marketing companies didn't. By educating them and showing them what they were getting, they were more than happy to pay our pnces.

    Why would anyone pay more for the exact same thing? Once they found out what we were offering, they didn't perceive us as offering the same thing as the other marketing companies. When you don't educate them, they perceive you the same as the next business.

    If all things are equal, they will choose the cheapest price. Once you convince them and educate them, you no longer have to worry about it

    Virtual Product Placement
    Recently some televised sports events have begun using a system that makes billboards in stadiums appear to have ads they don't really have. The process is something like a digital version of chrome key, but it's much more powerful. In the next few years this technology will become even more powerful, and also considerably cheaper, opening up new opportunities for advertisers on the Internet, and raising a number of interesting issues in the proce
    raid to raise our prices and lose customers.

    Finally, we did. We got just as many customers and increased our bottom line by 35%. We then decided to raise our prices again. Still - same amount of customers.

    We ended up raising them even higher to almost double what we had originally started at. We did lose customers at that point. However, we had increased our fees so high that our margin was still much higher than it was before and we doubled our business. All by simply raising our prices.

    We had already delivered quality work and were confident in our products and services. All we did was raise our prices. To overcome people just looking for price, educate them. What we did was let them know about some of our follow-up services, our customer service plan, things that we naturally included in our service that other marketing companies didn't. By educating them and showing them what they were getting, they were more than happy to pay our pnces.

    Why would anyone pay more for the exact same thing? Once they found out what we were offering, they didn't perceive us as offering the same thing as the other marketing companies. When you don't educate them, they perceive you the same as the next business.

    If all things are equal, they will choose the cheapest price. Once you convince them and educate them, you no longer have to worry about it

    Gmail & Me
    Prelude: My initial thought "Jus' b'cos it offers more space it does not have to be good". It was jus' another mail account, the only difference "1GB"! [the marketing team of google has got my attention :-)]. I Started using gmail with some initial reluctance, as the loading time was much similar to yahoo. The user interface :-( was not catchy enough, to get the attention of first time usres.The "speed" was something that caught my at
    r business. All by simply raising our prices.

    We had already delivered quality work and were confident in our products and services. All we did was raise our prices. To overcome people just looking for price, educate them. What we did was let them know about some of our follow-up services, our customer service plan, things that we naturally included in our service that other marketing companies didn't. By educating them and showing them what they were getting, they were more than happy to pay our pnces.

    Why would anyone pay more for the exact same thing? Once they found out what we were offering, they didn't perceive us as offering the same thing as the other marketing companies. When you don't educate them, they perceive you the same as the next business.

    If all things are equal, they will choose the cheapest price. Once you convince them and educate them, you no longer have to worry about it

    Church Signs and Outdoor Church Signs
    Church signs have been known to stop people on the side of the road to ask what they are. Outdoor church signs are mostly known for being right outside of the church with the thought of using it to attract new people to the church. Church signs are interesting because no one really knows if they are effective or not. The other question is whether outdoor church signs should be used at all, especially for the purpose of getting more people to come
    getting, they were more than happy to pay our pnces.

    Why would anyone pay more for the exact same thing? Once they found out what we were offering, they didn't perceive us as offering the same thing as the other marketing companies. When you don't educate them, they perceive you the same as the next business.

    If all things are equal, they will choose the cheapest price. Once you convince them and educate them, you no longer have to worry about it. Price is simply what you pay for something. Value is what you get. The customer wants to know what he's going to get. Every customer wants to think they're going to get good value.

    Your customers don't really care about the low price, especially if they're going to get bad workmanship and poor products or services. They want value. If you give them value, you might as well charge them for it.

    Don't wait for them to tell you you're expensive or they can't afford it. If they're telling you this, it's too late. You haven't educated them on the value they will receive from your products and services. You need to educate them right from the beginning from the time they request your no cost book or report. Your customers are not automatically inclined to buy the cheapest thing they can get.

    Raise your prices. Get paid. You're worth it. If you've built in a great guarantee, which should be one of your strategies, then you are on your way to deliver quality products and services to your customers at all times. You do great work, give them great quality, educate them, you're better than your competitors you should get paid for it. If you believe you're worth it, then your prospects and clients will believe it also.

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