Don compromise on your prices and volumes too quickly. Always start higher and give yourself room to come down, so that you can see more revenue flowing through to your profits.
In many of the businesses I see, one of the issues is that the profit margins are too small. Often, on further analysis that is because the initial price is so low and when negotiations start there is no room for maneuver. Or the price is fine, but the volume of business just isn enough to keep the business going.
Now, you may be crying out that you start with a realistic and honest price, that you don expect to negotiate and that people should understand that. Unfortunately most sales today (and especially Wedding Party Dresses On Sale to Business sales) involve negotiating down the price. So you have 2 options ?either stick to your guns and don negotiate, or accept that there will be negotiation and leave yourself some room to play with. But whatever you do, don go in with a low price and then cave in to negotiation.
In many of the businesses I see, one of the issues is that the profit margins are too small. Often, on further analysis that is because the initial price is so low and when negotiations start there is no room for maneuver. Or the price is fine, but the volume of business just isn enough to keep the business going.
Now, you may be crying out that you start with a realistic and honest price, that you don expect to negotiate and that people should understand that. Unfortunately most sales today (and especially Wedding Party Dresses On Sale to Business sales) involve negotiating down the price. So you have 2 options ?either stick to your guns and don negotiate, or accept that there will be negotiation and leave yourself some room to play with. But whatever you do, don go in with a low price and then cave in to negotiation.
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