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Salt Lake City Bookkeeping Blog

Boost Revenue, Cut Costs: The Psychology Behind Anchoring

Posted by Leanne Armstrong on Apr 10, 2019 9:00:00 AM

Because it can be applied to both pricing and negotiations, the anchoring bias has the potential to boost your company’s revenue and help you cut costs. Identify how anchoring works and you’ll be better positioned to charge more for your product or service, while paying less for your business expenses.

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Topics: Grow Your Business, Growth Coach, Business Accountant, Pricing

How to Leverage Product and Service Life Cycles to Predict Revenue Growth

Posted by Matt Roberge on Jan 9, 2019 9:00:00 AM

Did you know that almost every business follows a typical life cycle with regard to what it chooses to sell? The life cycles of products and services illustrate their growing or shrinking market positions, and are usually determined by how long they remain in demand.

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Topics: Financial Forecasting, Small Business Growth, Growth Coach, Pricing

Is it Time to Rethink Your Pricing Strategy?

Posted by Leanne Armstrong on Jul 18, 2018 9:00:00 AM

What you should be charging for your product or service is a question that haunts many an entrepreneur. And while “driving sales” is frequently cited as the number one marketing goal of small business owners, many still set their prices without a long-term strategy for achieving that goal.

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Topics: Small Business Sales, Growth Coach, Pricing

8 Laws Anyone Working on Pricing Should Know

Posted by Austin Walker on Aug 4, 2016 8:30:00 AM

Pricing your products or services in a way that keeps you competitive while turning a profit can be an ongoing challenge for the small business owner. While your underlying costs always have to be taken into account, strategic pricing practices go well beyond the numbers to include proven buying behaviors.

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Topics: Small Business Sales, Profit Coach, Pricing