Finance Topics
IN THIS LESSON
The price you charge your customer...
… will have a direct impact on the success of your business.
Whether you sell a product or service, the price you charge your customer will have a direct impact on the success of your business. Unfortunately, pricing is one of the least understood facets of running a small business. Many small business owners calculate their basic costs, and then pick a price arbitrarily. Arbitrary prices, however, mean arbitrary results. Taking the time to evaluate all the factors that will impact your price—from your expenses to your image to your customers’ prices—will help ensure you develop an effective pricing strategy. The SME Toolkit video will help you understand the most important factors that impact setting the best price.