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Re: recession part 2
« Reply #20 on: October 29, 2008, 07:42:08 pm »
I think what JK waas also hinting was how putting your prices UP 10% could maqke such a huge difference.

John Kelly

  • Posts: 4461
Re: recession part 2
« Reply #21 on: October 29, 2008, 10:03:20 pm »
What I am getting at is putting your prices up even just by 10% can make a big difference to your profit. You know thats the stuff you can actually spend. Whereas putting your prices down mean you have to do a lot more work to stand still.

John Kelly

  • Posts: 4461
Re: recession part 2
« Reply #22 on: October 29, 2008, 10:12:15 pm »
Derek, its not a business model, just raw maths.  of cause you can utilise loss making work as part of your marketing strategy. Not a good way mind you as you should always look to turning a profit, even if its a small one.
What it shows is if you start panicking and start cutting your prices/worth then you have to do a hell of a lot more work to make up the same earnings as you had before and if you don't pick up that work then you are going backwards.
There are a few out there who have been very brave in the past and have substantially increased their prices. Guess what they now earn more money and do less work.

derek west

Re: recession part 2
« Reply #23 on: October 29, 2008, 10:40:33 pm »
like ive said on many of my threads, if i have to drop my prices to get work then i'll sell up and do something else. i refuse to bust my balls to keep my head above water, my prices have been slowly going up since i started and as my confidence grows they will go up even more, so no discounts here, and certainly no panicking, quite the opposite.
good bit of info though, thats if your into percentages and stats and stuff.
derek