Free Business Tips

Many business owners go from idea to funding easily. They have it in their blood. That good old entrepreneurial spirit is there and ready to materialize products and concepts, but what about the administrative software to get you from concept to profit? That's why I am listing the top five software products that can help you go from concept and funding to streamlining your business and growing your profit margins!

** Note, I am NOT paid by any of these companies

1. ZenDesk.com is a great tool for maintaining your online reputation through a customer service platform!

2. Google Analytics is awesome because it is FREE! With this application you can find out how long people are staying on your site and see which pages are getting the most traction.

3. Microsoft Corporation This is great if you work from home and use Microsoft for your business, personal, and even the kid's homework needs.

4. SalesForce.com This is a great sales application and has everything you need to "grow revenue, boost productivity, and get visibility into your business."

5. AME Payroll This payroll software is great because you can use it for an unlimited number of businesses and it has an auto-setup wizard.

Until next time,

Twyla N. Garrett

Pricing Your Products

Around this time every year businesses tend to reconsider their current price point. Usually, and in relation to the 04/15 tax deadline, companies are looking to raise rates. It can be a risky move. So, how will your customers react?

Well, customers hate too many choices. You would think the opposite would be true, but it isn't. In fact, according to various financial data- customers find too many choices overwhelming and end up not buying anything. My advice, if you're going to raise rates- do so without offering several contract terms or price points.

Provide a deal. If you have to raise your rates make it worth your customer's investment. For example, if you have a product or service that sells for $200, and you're going to raise rates to $250, try selling three of the same item for $700. This tactic has worked for decades.

Finally, be honest. If your customer threatens to walk because of a price hike- let them go. Otherwise, you will have an angry and cynical customer to deal with. Instead, find someone who is willing to appreciate your product or services- at the higher price point- and move on.

Until next time,

Twyla