subject: Successfully Running A Small Business [print this page] When it comes to running a small business, nothing is easy. Every day is a challenge and if you do not do things extra to set your company apart from the competition, then you will be lost in a crowd. There are many companies trying to make a name for themselves doing the same thing as you do. Things you need to do to set your company apart from others is difficult, but if you want to succeed then you need to set your company over and above customer expectations.
It doesn't always come down to price, although for a lot of consumers it seems to be that way. What people want is value, value for their money and to feel like they got an equal trade for whatever it is that they buy. If they feel like they have gotten fair and equal value for the money that they have spent they will be happy. If they feel as though they got above and beyond what was fair value and therefore feel as though they made out on the deal, then they will be extremely happy and start to tell acquaintances about their experience.
The trick is to create value for your customers without having to drop your prices. You need to make a profit, which is just how companies work and customers know it, but do not want to feel as if you are charging a lot more than you should. Thus the creation of value and charging the appropriate amount for the service or product is important.
There is a way to increase your profit without having to increase your prices. You have to find a way to lower the costs of what you are producing. Lowering the cost can come in many forms. You can beat up your suppliers and try to get lower prices, but that isn't always the best way to go about it. It is about building relationships with your suppliers and if you beat them up on prices, then you threaten to strain the relationship.
Now there are ways to make prices more attractive, perhaps buying more shares, but they have released over a period of time. You do not want to tie all that room in the factory anyway. If you are a waste of space, which is a waste of money.
