What is the Lifetime Value of Your Customer?
For a small business to succeed, merely keeping track of individual sales is no longer enough. To truly grasp the health and potential of your business, you need a deeper…
Best Practices for Aligning Your Business Decisions
Many business owners underestimate the value of strategic alignment. Every decision you make—whether hiring a new team member or investing in new technology—has a ripple effect throughout your organization. Making…
Price Level and Signaling: A Guide for Business Owners
Have you ever wondered why some products seem to fly off the shelves while others barely make a sale? You might be surprised that the answer often lies in two…
Corporate finance and accounting related words word cloud on purple background.
Understanding Financial Jargon
For small business owners, many accounting and financial management terms may seem like an enigma to the uninitiated. However, understanding this jargon is essential for individuals and companies to make…
Are You Optimizing Your Pricing Strategy?
Most business owners understand that getting pricing right is one of the keys to success. You may be tempted to think of your pricing strategy just in terms of revenue. But profit, not…
Price Elasticity of Demand: What it Means for Your Business
In business, every decision a small and medium-sized business (SMB) makes can profoundly impact its success. One crucial aspect that often shapes the destiny of SMBs is how they price…
Competitive Pricing: Using Reference Prices to Attract Customers
When it comes to making purchasing decisions, consumers often rely on a mental benchmark known as a reference price. This benchmark, whether conscious or subconscious, plays a pivotal role in…
Value-Based Pricing vs. Cost-Based Pricing
Pricing strategies play a vital role in determining how much a product or service should cost. It's figuring out the right balance between affordability and profit. In this article, we'll…
Visualizing Success: Using Decision Trees for Optimal Decisions
Welcome to the exciting world of business decision-making! Think of a business decision like choosing a path in a maze – the choices you make can lead you to success…
Hand writing the question What If? with black marker on transparent wipe board isolated over white.
Ask Yourself, “What If?”: Performing Sensitivity Analysis
Small business decision-making often feels like navigating through a fog. With limited resources and high stakes, small business owners must make informed decisions, understanding the potential impact of various factors…