Pricing for Profit with Peter Harriman, Maine Small Business Development Center

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!

Recommended Resources

The Maine Small Business Development Centers

https://www.bizbuysell.com/ – resource for buying or selling a business

Financial software – Quickbooks, Xero or Wave

Healthy Habit: I try not to bring work home or schedule work outside of work hours.

Quotable

  • “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.”

And a really inspiring favorite video. 

(It’s short and worth a watch.)

Learn More!

To learn more about Peter, you can visit www.mainesbdc.org or email Peter at Peter.Harriman@maine.edu.

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/

About the author, Stefa Normantas

Stefa Normantas is the show producer of New England Made Shows, a wholesale giftware and specialty food show. She's also the managing partner of Green Tree Events, an event management company. She lives in Maine with her husband and four teen children.

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