The Fox Valley Chapter of SCORE offers free mentoring sessions to small business owners and start-ups at the Plainfield Public Library, 15025 S. Illinois St., Plainfield, IL on the second and fourth Mondays of the month, 7:00 to 9:00 pm. Space is very limited, and registration is required. Go to foxvalley.score.org, click on Book Now! and follow the steps to register at the Plainfield Public Library. SCORE is a nationwide, non-profit organization dedicated to helping the owners of existing and start-up businesses assure that their businesses grow and prosper.
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Matthew Toren looks at “money” – cryptocurrency – for the 21st century that goes beyond our traditional concept of what money is and how money works. Click here to see what he says.
Fred Warmbier, the owner of a finishing technologies company, wrote an excellent post recently on this topic for the You’re the Boss blog in The New York Times. Of particular interest was his discussion of Tier 1 (profitable) vs. Tier 2 (less profitable) customers and his assessment of the sustainability of his competitors’ lower costs. He draws on a realistic, common-sense approach when he notes that most customers don’t buy on price alone. As Benjamin Franklin said, “The bitterness of poor quality remains long after the sweetness of low price is forgotten.”
Take a look at the full article here.
In a recent article in the New York Times, Adriana Gardella reported on some of the challenges in pricing a product or service. The members of her women’s business group discussed their thoughts on a number of pricing issues, including discounts, freebies and deviating from typical industry pricing patterns. They also spoke about the hidden messages that may be conveyed by price, making customers uncomfortable with a price that appears too low. You can read the full article here.