The key to budgeting like a pro...
Hi LinkedIn ??
Are you getting your prices right? ??
Pricing strategy can be a HUGE headache. How do you know you're charging the right amount? With many small businesses undercharging - and putting a profit margin simply on operational cost, many don't realise there is a better method: charging your worth, writes CEO Matthew Hayes at Champions UK.?
In our bumper?budgeting edition, we've got a whole raft of budgeting advice from a range of experts. If you're wondering how to budget correctly, we've got the ultimate guide to allocating your budget across your whole business, thanks to Lauren Wakeling at CoursesOnline.
Elsewhere, we've got advice to help you manage your money, including how to calculate your net profit.
We've also got a very spicy podcast with business guru, Mark Ritson, editor of Marketing Week. Ritson holds a PhD in Marketing in one hand, and a whole load of business truth bombs in the other... ????
Finally, if you need a little financial check-up, check your business credit score on Experian before you apply for a loan. ????
Are you getting your prices right? ????
It's far too easy to set your prices by looking at your operational costs, writes pricing expert Matthew Hayes, CEO of growth consultancy Champions UK.
This essential guide to pricing strategy looks at the five vital factors to consider when setting your prices. He reveals how you can increase your profit margins by conducting a thorough audit of your prices.???
Plus, Hayes explains the importance of brand equity, and why building a strong brand is central to being able to set your prices at any level you want. ??
From the Knowledge Hub???
In this article, Simon Bacher, CEO of edtech app Ling, talks about the budgeting lessons he learnt in order to launch Ling on?to the app store - and keep it there.
Level up your business by taking control of your finances. Our 10 top tips will give you a starting point to learn what you should be doing to budget like a pro.?
Exactly how much money should you allocate to each business function? If you're searching for budget blueprint - this is it. Lauren Wakeling, Country Manager at CoursesOnline, explains exactly what to put where.
Planning the next business move? ??
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Once you've got fired up from our pricing strategy and budgeting guides, you might be thinking about how else you could grow your business. Maybe you need some new equipment or you want to add a new product or service to your arsenal.
Whatever you need cash for, we've got you covered. Fleximize business loans can be used for practically any business purpose, and they all come jam-packed with flexible features:
?? No hidden fees, ever
No tricks up our sleeves. With Fleximize, you won't encounter any hidden fees or complicated fine print and you'll know exactly what you're repaying from the off.
?? Top-ups & repayment holidays
We understand that you may need a little breathing space, which is why we offer top-ups and repayment holidays during your loan term.
?? Repay early, repay less
With our Penalty-Free Promise, repaying your loan early saves you money. It's our pledge to be fair and honest, giving you the freedom to overpay or settle anytime.
?? Simple process and dedicated?support
We've simplified the finance game. Our straightforward process means you can focus on your next move. Plus, our expert team has your back throughout the journey.
From the web ??
You can't think about budgets and profit margins without thinking about your bottom line. And you certainly can't increase your profits without finding out what your bottom line - or net profit - actually is. Find out how to calculate it in this informative video from accounting YouTuber, Accounting Stuff.
Renowned business expert, Mark Ritson, gives his refreshing take on positioning your small business in the market to take on the bigger brands. Ritson delves into pricing models, how to compete, and tells his stories of his experience in bringing his Mini MBA course to market. Be warned, this episode contains humour, home truths, and explicit language!
Navigate the path to financial success confidently by accessing your business credit score on Experian. With a clear understanding of your business credit profile, you can make informed decisions before applying for finance.?
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