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The Fit Wealth Show

The Fit Wealth Show

Veröffentlicht: 2024-08-06
© 2024 The Fit Wealth Show
The Fit Wealth Show - QR Code
65 Folgen
Audio
Anhören auf Apple Podcasts
65 Folgen
Audio
Anhören auf Apple Podcasts
Veröffentlicht: 2024-08-06
© 2024 The Fit Wealth Show
Aktuelle Folge
66. How to build a profitable pricing strategy for your business

66. How to build a profitable pricing strategy for your business

Länge: 32:17
Welcome to The Fit Wealth Show, In the dynamic world of online business, determining the right pricing strategy is crucial for remaining competitive while ensuring profitability. The right pricing strategy can attract your ICA and drive your business Buuut, striking the perfect balance between competitiveness and profitability requires a strategic approach. Today on the show, we’re talking all about pricing strategies from a financial professional view to provide insights on how to implement them effectively. So ditch that whiteboard, grab your P&L’s and let’s get to it, this is the Fit Wealth Show! 
Understanding your costs, you can’t figure out where to go, if you don’t know where you are...meaning you can aim for what other similar online business owners are doing, but we assume you are unique in what you offer and who you offer it to, so let’s start with the cost of doing business: 
Fixed Costs: These are expenses that do not change with the level of production or marketing, rent, salaries, and insurance. 
Variable Costs: These costs vary directly with the level of production or sales, such as merchants, fulfillment of services, and raw materials  
Break-even Point: The break-even point is where total revenue equals total costs, resulting in neither profit nor loss. Understanding this point helps in setting a baseline for your pricing strategy. 
Using your financial statements to help you decide, vs. A whiteboard 
Thank you for listening to the Fit Wealth Show. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the @fitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com 
IG: Shawn @fitwealthadvisor 
IG: Amanda @thefitfinancial_ 
 
The Fit Wealth Show is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
Folgen-ID: 1000664496779
GUID: Kajabi-2148788802
Erscheinungs­datum: 6.8.2024, 12:00:00

Beschreibung

Welcome to The Fit Wealth Show, I’m your host Shawn Hanquist and we aim to help business owners maximize their wealth goals and minimize taxes. Each episode we bring you insight and professional advise. Be sure to join us every other week to get your financial health in order. If you like the show, please be sure to subscribe and leave a review. Find me on instagram at @thefitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com/contact
The Fit Financial podcast is brought to you by Fit wealth advisors and PlanGroup Financial, a registered investment adviser. Registration as an investment adviser does not imply any level of skill or training. This has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of publication and are subject to change without notice. Past performance is not indicative of future results.

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