Avoid breaking this unwritten, but important rule when pricing.

Surcharge at restaurant resulted in bad publicity for the restaurant.

Novice business owners rarely price correctly. Many new businesses underprice in an effort to win new customers and community goodwill. Others price high, but fail to provide enough value to justify the price. Underpricing means a lot of work and expense for less revenue. It means you are underpaying yourself. You didn’t start your own Read More

Coronavirus. How to re-open your business fast.

If the coronavirus affects you, family, friends or employees, there is nothing more important than recovery. Coronavirus has halted social activity and commerce around the globe, fast. It is time to plan for the possibility that social activity and commerce will resume fast. Why? In China, coronavirus patients are recovering and resuming their lives. Temporary Read More

Stories from the bank: “How NOT to handle financial troubles and overdrafts”

“Michael” owned an upscale sports car business. If you wanted to purchase a slightly-used Mercedes-Benz, Ferrari, Lamborghini, or Bugatti, Michael was your guy. If you wanted to customize your car with decals, mag wheels, or other “aftermarket” accouterments, call Michael. It could be a glamorous business, but it has a small, specialized market, not known Read More