Discounting In Business has long been a commonly used goto strategy to increase the sales and income in business. The concept being to offer a discount to entice more customers to buy from you. The perception being that the cheaper I sell the product the more of it I will sell and the more money I will make.
Many business owners fall into this trap and end up costing selves a lot of money in the process.
It is critical to your success if you are going to offer any form of discounting in business that you calculate and fully understand the numbers and what the true cost of discounting in business is.
In this episode of the Podcast, we explore the true cost of discounting in business and how to work out the numbers so that you avoid costly mistakes in your business. Tune in with Jason Skinner right here!
Why discounting can be a dangerous costly strategy in your business?
The importance of calculating and understanding the numbers properly before implementing a discounting strategy.
Why a 10% discount can cost your business more than a 10% drop in profit
How to avoid costly mistakes and look at discounting from a different perspective.
Cashflow is critical to success in business. You can have the best business idea ever, but if you can’t generate cash and pay the bills you won’t survive.
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