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A Concierge typically provides services to guests of Elite Hotels; however, this service can be expanded to provide services to the members of your community. This can be a very profitable business with little investment to start. Concierge Service Read More

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In a previous article “Creating Ideas for Starting a Small Business” I provided several methods to find a business to start. For the sake of argument let’s say you read the article and created a couple of business ideas. Or perhaps you already have a couple of ideas for businesses you want to start. Now let’s also say that although you created a few ideas for a business but you’re not really thrilled about any of these ideas you may have created. That is perfectly normal and perfectly ok. [click to continue…]

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What is a strategic alliance? It is a complementary arrangement between two or more businesses that provides each business with more customers or services, and allows them to better sell their products and/or services. It’s a win-win arrangement that does not cost any of the businesses any money to execute but each business gains financially and grows. Read More

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You may have known for a long time that you wanted to start your own business but didn’t know what to do like I did. Or you may have just decided that you want to start your own business. Or even perhaps you are merely pondering the idea of starting your own business. In any of these cases you are probably wondering where do I start, or where can I get ideas? Read More

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There are several pricing strategies available to determine the price point of a new product or service. I believe that for either start up businesses or the introduction of new products, cost-plus pricing is a good place to start developing an initial price. This will reduce your chances of undercharging for your new product and/or service. Yes, you can simply price your product or service at the same price of a competitor’s similar product or service, but, you must know your cost. Read More

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Pricing too low can have disastrous effects on not only your profit but more importantly your image. Buyers may assume there are risks in dealing with your company if your prices are lower than the perceived value or if they are at the low end of the scale of the market expectations. Read More

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In part one I discussed an example of pricing using a mail order company and introduced the term “Perceived Value”. While in college working on my business major I found out that my term Perceived value is also called Market Expectations. But I like my original term better because it is more descriptive than market expectations. Read More

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When considering pricing for your product or service there are several methods to arrive at a retail price. I’m sure you have all heard of the phrase “Whatever the market will bear”, although this is true there are other considerations that need to be considered as well.  Read More

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The next four businesses errors to avoid:

  •   Slow Service
  •   Uneducated Employees
  •   Discourteous Employees
  •   Failure to Keep customers Informed

Slow Service

One of the biggest pet peeves I have with any business are those that have slow service. Slow service has several negative impacts. [click to continue…]

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First Rule: Avoid the these business errors:

  •       Poor Customer Service
  •         Perception of Poor Customer Service
  •         Inconvenient Business Hours

 

Poor Customer Service

The biggest one, as you may have guessed by your own experiences, is customer service. [click to continue…]

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