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There is always a discussion with businesses about the prices that are charged for a product or service. If the price is $12, a business owner will wonder if they can sell a lot more of the product if the price is reduced to $10. This calculator helps to answer that question from two perspectives. The first part of the answer is to tell you how many more you have to sell to make the same amount of gross dollars of sales. The second calculation will tell you how many you have to sell to make the same amount of gross profit dollars. With each calculation, you are then left to make a decision. You know now how many more you do actually have to sell; you then ask yourself if you believe that is an achievable goal. Remember that in achieving the goal, you are not making any more profit or any more sales dollars, you are just selling more units to produce the same gross sales dollars or gross profit dollars. |
NOVEMBER 2024
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With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.
Small Business
Perhaps you have investments outside of your small business; gold, stocks, bonds or money market funds. With each you likely know what the rate of return is.
What about your busines? Do you know what the rate of return is for your business? You should. After all, you do not want to be the person who has just bought themselves a job.
Small Business
We see a lot of social media with what we think is a "sympathy plea" do do business with local small businesses.
It is not going to work. People select where they do business based on positive reasons. We discuss what we are seeing.
A timely article for the holiday season. With any business that has inventory, are you looking at sales per square foot? Are you looking to see which is the most valuable space in your business? You can increase sales by knowing which items to place where.
Fix This Next by Mike Michalowicz. We love this description of the book; The biggest problem entrepreneurs have is that they do not know what their biggest problem is.
If you find yourself trapped between stagnating sales, staff turnover, and unhappy customers, what do you fix first? Every issue seems urgent - but there is no way to address all of them at once. The results? A business that continues to go in endless circles putting out urgent fires and prioritizing the wrong things.
