“Are you charging enough?” is the question at the heart of the latest KBB Unstoppable Business Owner podcast episode.
Host and chartered accountant Kevin D. Bannister explores why most business owners undervalue their offerings, the consequences of underpricing, and how to make profitable sales.
He says business owners who price too low for a competitive edge may mean constantly chasing sales, to cover business costs, and lose the ability to have a financial safety net for market downturns.
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Kevin Bannister adds the Office of National Statistics cite half of SMEs cash flow problems as a major reason for failure.
In the podcast, he offers a three-step model to help entrepreneurs price products and services to reflect “true” value, cover costs, and ensure a top margin.
“It isn’t just about inflating your prices, it’s about understanding your numbers and ensuring that every sale contributes to the healthy bottom line”, Bannister states.
Sintered stone manufacturer Neolith has launched Calacatta Roma and Cappadocia Sunset, inspired by nature and classical architecture, and for use in kitchens or bathrooms walls, floors, in gardens or facades.
They belong to The New Classtone and Fusioncollections which interpret marble and natural stone, respectively, and boast Neolith’s antibacterial NeolEAT technology.
Inspired by Ancient Rome, Calacatta Roma (pictured top) pays homage to Italian Carrara marble, with ochre and grey veins in a white background.
While the Cappadocia region, in central Turkey, with its rock formations formed by volcanoes and underground cities, has inspired Cappadocia Sunset (pictured below).
Just like all of Neolith’s surfaces, Calacatta Roma and Cappadocia Sunset are resistant to heat and atmospheric conditions, are 100% recyclable, and do not contain added quartz to their formulation.
Mar 14, 2024
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