The price-band: A tool to help you manage your business

Earlier this week, I introduced the concept of the price-band, a way to understand what your customers are thinking about when they buy, and a tool to help you avoid the set-it-and-forget-it method of pricing. The price-band is a fluctuating “window” of acceptable prices that a customer is willing to pay. At any given time, […]

The price-band: Why you shouldn’t use the “set-it-and-forget-it” method to price your offerings

In a previous post, I introduced the price-band as a way to know what your customers are thinking about when they buy. Just to refresh your memory, the price band is the acceptable price(s) that your customer is willing to pay for your offering. The price a customer is willing to pay can fluctuate based […]

The price-band: How to understand what customers think about when they buy

Most businesses price their products or services backwards: They decide on a price almost arbitrarily and then slap a real or proverbial price tag on their offering and move on. As long as there is some profit built into their price, they feel like they can now move forward with their marketing. But when businesses […]

The Business Model Canvas — a tool to help you understand and grow your business

I stumbled across a really cool tool that I thought you’d like. It’s called the Business Model Canvas and it’s a way for you to analyze your business model and create/innovate new ones. The Business Model Canvas is divided into 9 parts: Customer Segments (see the right side of the image) are the demographic groups […]

Use the 7S strategy framework to optimize your sales funnel

Running a successful, profitable business means always tuning your sales funnel to keep it in peak condition. One of the ways to analyze your sales funnel and find opportunities for improvement is to use the McKinsey 7S Framework. The McKinsey 7S Framework (displayed to the left) is a series of 7 spheres or elements that […]