In a webinar we hosted last week titled "Pricing Strategies for Startups" we went in deep on how to price your products or services as a new business owner. Did you miss it?
It's ok, the replay is available now at bit.ly/pricewebinar
Make sure not to miss our next webinar...Sales Funnels - The Ultimate Selling Machine We will release the link to register shortly....stay tuned😃 🔵🔵🔵🔵🔵TPM Focus | Startup and Small Business Strategy Consulting www.tpmfocus.com
When the sun is shining Kimchi and Chips: Halo will form a circle of light suspended in the air above Somerset House's courtyard, created through the use of over 100 calibrated mirrors.🙌 It's definitely a sight to experience firsthand! 😉 Great photo courtesy of @eddie_hubbard
You've only got a few more days to apply to the YFood Investor Evening! If you're a Food Tech or Food & Beverage startup looking to raise it's your chance to get in front of a room full of investors actively interested in the sector. A high energy, curated evening with Angels, VCs and Corporate Venture team investors. Fancy your chances? Applications close Monday [LINK IN BIO]
It's about solving a problem (The more painful the better)
It's about the customer not you (e.g. making money)
It's about something you care about (Emotion attachment)
It's about something that you're good at or enjoy (Skills, situation)
It's about leveraging your time and easy scalability (Can you grow it)
There is also another secret sauce of a profitable idea, you want to choose your idea to be the solution not to just few people but many people and you want it to be high profit not low profit. The formula is: many people x high profit x recurrence = a profitable idea. When you look at this formula it gives you 3 areas you can optimize your business lets take a look at the amount of people, We all think that our ideas are good ideas when they are about our hobbies or stuff you like to do and enthusiastic about. But be careful if there are no many people that can be your customers it's a bad one, also if you can't optimize the profit or recurrence it's not as optimal as it should be, keep on looking. Here is an example on how easy it's to increase a good idea compared to a bad idea by 30%: Increase your customers by 10%. Offer extra services or charge a bit more (possibly by providing more value) to get 10% more.
Increase your reoccurring revenue by 10%. I believe every business idea can say yes it's possible to increase by just 10% in each of those areas by making small changes and it will bring you a total of 30% increase of business. How hard it's going to be if you don't use the formula? increasing your customers by 30%? or 30% more profit? It's much harder to do. If you can do that with the good idea and the profitable idea formula you easily increase your business by 90% practically doubling your business.