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The Price of Bad Pricing -
By Jay Goltz
July 6, 2011

pricing is more complicated. You may say you want to offer the best price. But what does that mean? The lowest price for the customer? The price that will provide the best value for the customer? The price that will result in the highest profit for your company? The price that will result in the most sales for your company?

It can get even more complicated. To figure out the relationship between the price you charge and the profitability that results, you have to do some cost accounting. For instance, if you are manufacturing a product, you have to take into consideration reject rates, machine maintenance, insurance, rent, utilities and inventory carrying costs, just to name a few expenses. Maybe you own an auto parts store that specializes in carrying parts for older cars. You pride yourself on having the alternator for almost every car built since 1960. Surely that would suggest that you could charge a premium. But how much? What is the carrying cost of your huge inventory?
small_business  pricing  running_a_business 
november 2014 by jerryking
Why I Do All My Recruiting Through LinkedIn -

How, in a sea of people, can I find my ideal candidate?

In the past, I would have posted job ads on all the appropriate websites and braced for a flood of applications....the problem was that the best candidates all had good positions and were not reading job advertisements. Somehow, I had to find these people and convince them to take a risk by joining our start-up. The only solution seemed to be to hire a recruiter and, as a cash-strapped small business, we just couldn’t afford to shell out a recruitment fee of 20 percent of the candidate’s annual salary....sign up to LinkedIn’s Recruiter service. For $2,200 per quarter, I can run detailed searches on exactly the type of candidates I’m looking for and then approach them en masse.
LinkedIn  recruiting  talent_management  talent  cash-strapped  howto  small_business  running_a_business 
august 2014 by jerryking
10 Words Entrepreneurs Should Use With Caution -
March 10, 2014, 7:00 am
10 Words Entrepreneurs Should Use With Caution
running_a_business  entrepreneur 
march 2014 by jerryking
Starting a McKinsey for Small Businesses -
December 17, 2013, 7:00 am 4 Comments
Starting a McKinsey for Small Businesses
running_a_business  small_business  management_consulting 
december 2013 by jerryking
Manage from a Single Piece of Paper
January/February 2007 | Business Owner | Anonymous.

Great managers know exactly where their company based on four or five key indicators. Gary Sutton, legendary turnaround expert and author of The Six Month Fix, urges all business owners to manage from a single piece of paper. Sutton suggests they monitor information that looks ahead, such as: inbound calls/responses by source, orders received by product or product line, returns or warranty claims, total gross profits, payroll expense and accounts receivable. In addition, include a breakdown of costs by expense category. Next add liquidity data, inventory data, and data more upstream in the sales cycle, such as cash on hand and credit available. Have this information delivered to your desk once a week, and you will be empowered with the information needed to do your job. Here as some data sheet items: breakeven point, and performance of each profit engine.
metrics  small_business  running_a_business  KPIs  dashboards  start_ups  data  books  data_driven  indicators  forward_looking  owners  simplicity 
september 2013 by jerryking
Intouch 2013 summer
Reflections on a Decade of Change
Carol Stephenson looks back on ten years of challenge and achievement, and Ivey alumni reflect on her unique leadership style and remarkable legacy.

Happy Meal
Ever thought how fun it would be to run a restaurant? Think again—it’s a tough business. But for a few skilled businesspeople, the rewards are many.

Class of 2013

Five exceptional graduates reflect on the intersection of ethics and leadership.


It seemed insanely ambitious seven years ago, but the School has raised more than $200 million through the Ivey Campaign for Leadership. How? By creating a compelling vision and asking alumni and friends to step up. They did.


Editor's Note


Professors Jane Howell and Charlice Hurst have very different backgrounds and life experiences, but they are close collaborators and warm friends.

Ivey Buzz

What’s happening around the School and around the world.


Bill Jandrisits, HBA ’83, MBA ’90, has loved cars all his life. Now he is focused on becoming the best race car driver he can be.

Left Turn

When Julie McClure, HBA ’99, found the cure for her non-stop migraines, she built a business around it.

Your Ivey Network

Read about Ivey alumni who are just like you - hard-working, creative, successful, and committed to giving back. This section is dedicated to accelerating and amplifying the benefits of the Ivey network and connecting you to one another.

Download complete section (excluding Class Notes - see below) (PDF 2.4 MB)

Chair’s Message: Ivey Alumni Association Chair Anthony Ostler, MBA ’97, implements new strategy (124 KB)
Ivey Lives Remembered: Paul Morse Bishop, HBA '64 (86 KB)
The Best Thing I Learned at Ivey: Teamwork helps create NYC Hotel (437 KB)
Year in Review: The Ivey Experience (760 KB)
Paying it Forward: China Teaching Project (221 KB)
Every Donor Counts: Sarah Morgenstern, MBA ’93, steps up to serve as Chair of the Ivey Annual Fund (151 KB)
Utrecht, the Netherlands: Brenda Fischer-Campbell, MBA ’82, introduces us to her town (317 KB)
summertime  Ivey  alumni  magazines  deanships  restaurants  running_a_business 
august 2013 by jerryking
The Hidden Costs of Starting a Company -
June 3, 2013 | NYT | By ADRIANA HERRERA.

A friend of mine, Bobby Matson, founded Startups Anonymous with Diego Prats. They are both entrepreneurs who persevered over the challenges of a failed start-up. Startups Anonymous is a Web site that aims to help start-up founders and employees connect anonymously with serial entrepreneurs about the real challenges they face. After being live for just a few hours, the site had received more than 40 e-mails from founders all over the world eager to connect with someone — an indication of how many isolated people there are trying to figure out the challenges that come with building a start-up.
founders  running_a_business  start_ups  work_life_balance  focus  entrepreneur  hidden  serial_entrepreneur 
june 2013 by jerryking
Hiring Outside Advisers Is as Important as Hiring Employees -
January 24, 2013, 1:00 pmComment
Hiring Outside Advisers Is as Important as Hiring Employees
running_a_business  hiring  management_consulting  small_business  due_diligence 
january 2013 by jerryking
What Big Companies Get From Helping Small Companies -
November 26, 2012, 1:00 pm Comment
What Big Companies Get From Helping Small Companies
november 2012 by jerryking
The Big Decision: Stay Small or Try to Grow -
November 15, 2012, 7:00 am3 Comments
The Big Decision: Stay Small or Try to Grow
small_business  growth  entrepreneur  running_a_business 
november 2012 by jerryking
The Joys (and Dangers) of Owning a Microbusiness -
November 7, 2012, 7:00 am11 Comments
The Joys (and Dangers) of Owning a Microbusiness
entrepreneur  start_ups  small_business  running_a_business 
november 2012 by jerryking
Introducing Creating Value -
September 13, 2012, 7:00 am3 Comments
Introducing Creating Value

Most owners know more about running their businesses than anyone else in the organization. When it comes time to sell or transfer the business, prospective buyers aren’t interested in the skills of the buyer; they’re interested in cash flow. Buyers want to see regular growth and profit margins and a business that has systems that work without the owner.

I’ve been trying to understand how businesses build value for more than 35 years. One of the things I’ve learned – from the businesses I’ve owned, from reading a book a week for 35 years, from developing seminars for others and attending several educational sessions a year – is that value is in the eye of the beholder.
running_a_business  value_creation  blogs  entrepreneur  owners  cash_flows  internal_systems  professionalization 
september 2012 by jerryking
Pitching a Brokerage Service for Canceled Weddings -
September 5, 2012, 7:00 am10 Comments
Pitching a Brokerage Service for Canceled Weddings
marriage  running_a_business 
september 2012 by jerryking
Drilling Down: Small Businesses and Location-Based Marketing -
April 16, 2012| NYT | By GENE MARKS....A location-based network is a social media platform that allows you to share your location with your friends and the public in a variety of ways. Facebook and Twitter allow you to share your location associated with a status or a tweet, while a more heavily location-focused platform like Foursquare or Scvngr allows users to perform a few different tasks with their location, like earn rewards for check-ins or leave tips about their location...Think about using these marketing tools on a more basic level, as a tool for companies focusing on people to people...Foursquare and other networks are slowly working their way toward monetizing their platforms for merchants. When partners, like American Express for instance, offer deals through Foursquare for users to take advantage of, Foursquare grabs a cut.
running_a_business  small_business  Foursquare  Scvngr  location_based_services  location  Instagram 
april 2012 by jerryking
How Do You Escape the One-Big-Client Trap? -
March 21, 2012, 12:29 pm
How Do You Escape the One-Big-Client Trap?
running_a_business  small_business  large_companies  enterprise_clients 
march 2012 by jerryking
So You Want to Start a Business -
November 23, 2011, 7:00 am
So You Want to Start a Business
running_a_business  small_business  start_ups  Jay_Goltz 
november 2011 by jerryking
The Tech Profile: How a Small Retailer Handles I.T. -
May 17, 2011 | NYT |By DAVID H. FREEDMAN
The business: JetPens, based in San Jose, Calif., is a 14-person online
retailer of mostly Japanese pens and pen-related paraphernalia. The
slick, slightly edgy Web site is packed with stuff that you won’t find
just anywhere, including pens designed specifically for drawing Japanese
Manga-style cartoon art and a five-function eraser. As a result,
JetPens has drawn a cult following and fills about 100,000 orders a
running_a_business  marketing  retailers  e-commerce  David_Freedman  google  PayPal  Quickbooks  facebook  handwritten  analog  writing  artifacts  IT  owners  small_business  Japanese  premium  brands  Stanford  alumni 
may 2011 by jerryking
A 10-Step Plan for Working on (Not in) the Business -
April 21, 2011, 7:12 am
A Plan for Working on (Not in) the Business
running_a_business  Jay_Goltz  entrepreneur  jck 
may 2011 by jerryking
Managing the Business Side of the Business -
April 19, 2011, 7:00 am
Managing the Business Side of the Business
running_a_business  small_business  jck 
may 2011 by jerryking
Tapping Customers' Egos to Build a Web Presence -
FEBRUARY 9, 2011 By MIKE MICHALOWICZ Two words: a prospect's
first and last name. Feature these in a positive light and that's all
you need to generate genuine interest in your company. Best of all, when
you use the crowdsourcing method, it's free—free user-driven content,
free publicity for your business and free "good will" for your brand.
jck  crowdsourcing  websites  running_a_business  goodwill  user_generated  hubris 
march 2011 by jerryking
How to Master the Art of Negotiating Price -
MARCH 22, 2011, By MIKE MICHALOWICZ. At what point in a
negotiation do you show your hand? Most people believe if they know what
their prospective client is thinking it will give them an advantage. So
they wait to quote a price. They do their homework. They look for
clues. Sometimes they just come right out and ask: "What's your budget?
Are you looking for great quality, a fast turnaround, or do you plan to
go with the cheapest option? What number are you thinking of?" Big
If you want to come out on top, use this simple shortcut: Be first. No
dancing around the issue. No hemming and hawing. Just give them a number
right off the bat. In doing so, you'll set the starting point for the
discussion, from which all further discussions will stem (jk: anchoring)
anchoring  goal-setting  howto  negotiations  pricing  running_a_business  think_threes 
march 2011 by jerryking
In Small Business, How Much Technology Is Too Much? -
March 22, 2011, 7:00 am
How Much Technology Is Too Much?
David_Freedman  running_a_business 
march 2011 by jerryking
Straying From Tradition to Generate Solid Leads -
NOVEMBER 10, 2010 | WSJ | Mike Michalowicz. One shortcut to
getting solid referrals from clients is a process I call "fast-flow
prospecting." It starts with simply asking, "Would you mind referring me
to your other top vendors so that we can explore ways to serve you
better?" You might get a raised eyebrow, but your clients will almost
always say yes. It's a no-brainer for your client because you're not
asking them to hook you up with new leads; you're simply asking them to
help you, help them....Because you are working with other vendors to
create a better service protocol for mutual clients and prospects, this
lead-generation strategy will result in the best of referrals. Not only
will you land more clients, but you'll also build strong client
relationships that lead to other vendor referrals, and so on.
lead_generation  prospecting  referrals  running_a_business  shortcuts  protocols  business_development 
november 2010 by jerryking
Me & My Brand: Lively Entrepreneurs Ring Up Sales -
OCTOBER 4, 2010 | Wall Street Journal | By ROSALIND RESNICK`
What's the secret to leveraging your personal brand? Think about it
this way: If your company was a T-shirt, what would it say? "Service
With a Smile," "Expensive But Worth It," "Rock-Bottom Ricky" or
"Last-Minute Louie?" Or would it be a plain white shirt that lets your
customers write all over it? As an old editor of mine at The Herald used
to say, "If you don't know the headline, you don't know the story." The
same is true of personal brands.
running_a_business  personal_branding  entrepreneur  Donald_Trump  Mario_Batali 
october 2010 by jerryking
Getting Consumers Involved in Business Decisions -
JULY 13, 2009 | Wall Street Journal | Kelly K. Spors. The
Customer Knows Best. Thanks to the Internet, companies can easily find
out what consumers think. They just ask....." Entrepreneurs need to know
when to follow their own vision and intuition and when to rely on crowd
feedback, "
running_a_business  Kelly_K._Spors  Kauffman_Foundation  entrepreneur  start_ups  crowdsourcing 
august 2010 by jerryking
How I Saved My Company: Mile Meter - You're the Boss Blog -
July 14, 2010, 5:13 pm
How I Saved My Company: Mile Meter
small_business  insurance  running_a_business 
july 2010 by jerryking
A Sample Can Be Simple and Cheap -
JULY 4, 2010 | Wall Street Journal | By SARAH E. NEEDLEMAN. The Accidental Entrepreneur A Sample Can Be Simple and Cheap
running_a_business  Sarah_E._Needleman  prototyping 
july 2010 by jerryking
How I Saved My Company - You're the Boss Blog -
May 26, 2010 | New York Times | Yuki Mark Lim. Beginning to
collect these personal stories in a series of video contributions called
How I Saved My Company. We are looking for business owners who have
struggled and survived and who are willing to submit a short video
telling about their experience. The following video explains what we
have in mind.
running_a_business  video  small_business  owners 
may 2010 by jerryking
Preparing for the Exit
March 3, 2007 | Wall Street Journal | by By RANJAY GULATI,
MAXIM SYTCH AND PARTH MEHROTRA. Forming an Alliance? Plan for Your
Break Up
exits  strategic_alliances  running_a_business 
february 2010 by jerryking
Why Start-ups Fail
November 7, 2006 | The Wall Street Journal | Kelly K. Spors
root_cause  start_ups  Kelly_K._Spors  failure  running_a_business 
march 2009 by jerryking
Independent Street : Finding Help for Choosing a Franchise
June 12, 2008, 4:13 pm WSJ blog post posted by Kelly Spors on the topic of franchises
running_a_business  small_business  franchising  Kelly_K._Spors  start_ups 
february 2009 by jerryking
Small Firms Resort to Freebies and Special Deals -
FEBRUARY 5, 2009 WSJ article by Simona Covel which looks at
strategies small businesses are pursuing to cope with the deepening
small_business  crisis  strategy  running_a_business  Simona_Covel  survival 
february 2009 by jerryking
To Help Collect the Bills, Firms Try the Soft Touch -
JANUARY 22, 2009 WSJ article by SIMONA COVEL and KELLY K. SPORS on things small businesses can do to collect on bills.
Freshbooks  blogging  business_development  running_a_business  small_business  Kelly_K._Spors  Simona_Covel 
january 2009 by jerryking

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