Have you ever struggled in your business trying to figure out how to grow or make a profit?
Whether it’s for advice on starting a profitable business, a plan for growth or how to buy or sell your own business–the right advice can make all the difference. Peter Harriman is a Center Director of the Maine Small Business Development Center and he helps guide businesses through those exact challenges for FREE!
In this episode, he focuses on one of the most essential keys to success–how to price profitably and set your terms!
A little about Peter
Peter Harriman is a certified business advisor at the Maine SBDC at University of Southern Maine in Portland. He works with entrepreneurs and small businesses in Cumberland County to start and grow their businesses. In the three years Harriman has been with the Maine SBDC, he has spent 2,746 hours advising 570 clients. He’s helped to start 51 businesses, create/retain 132 jobs, and helped clients access almost $5.8 million in capital
Thoughts from Peter
- Know what your minimum price so that you know your position for negotiating
- Know your direct and indirect costs
- Have normal, steady price increases
- Look for groups of people or associations that can band together for bulk purchases and cost savings
- Keep financial records using some of the recommended resources!
https://www.bizbuysell.com/ – resource for buying or selling a business
Healthy Habit: I try not to bring work home or schedule work outside of work hours.
- “If there’s two things in business I know, it takes longer and costs more than you think.”
- “When you’re making decisions about your business, ultimately you have to make the decision that’s right for you.”
(It’s short and worth a watch.)
Special offer – Peter is hosting free webinars on February 11 & 12, 2019 on wholesale pricing and booth basics! Sign up info at http://www.mainesbdc.org/tradeshow/