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The four rules for motivating your employees with money.

Berkonomics

Salaries or hourly wages must be within reasonable limits set by the industry and matched by the competition, both regionally and for the same job classification. There are many studies that tell us how various industries reward employees for achievement above a base pay, or beyond expectation. Some obvious qualifiers.

Design 156
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8 Priorities When Offering A New Product Or Service

Startup Professionals Musings

New offerings which build your brand will increase acceptance and sales of all solutions, not just the new one. Target audience may be limited or new due to price. These fears need to be offset by early success stories, educational case studies, or advice on ways to reduce risk. Incent these early.

Product 141
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6 Unforeseen Obstacles Every New Venture Must Conquer

Startup Professionals Musings

Multiple decision makers required to close a sale. The most elegant products have the highest price tags, thus limiting market size. Every customer has a sense of what a solution should cost, based on competition, and the cost of doing nothing. Initial hype can generate a sales spurt, but long-term growth requires a clear fit.

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6 Observations On Key Challenges Facing Every Startup

Startup Professionals Musings

Multiple decision makers required to close a sale. The most elegant products have the highest price tags, thus limiting market size. Every customer has a sense of what a solution should cost, based on competition, and the cost of doing nothing. Initial hype can generate a sales spurt, but long-term growth requires a clear fit.

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7 Thinking Strategies To Make You A Business Winner

Startup Professionals Musings

According to many studies, entrepreneurs tend to be happier , and over 80 percent of self-made millionaires are entrepreneurs. Constant search for ways to increase sales and profitability. More sales are the only way to reach real business success. Entrepreneurs relish change and new technology, which lead to new sales.

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Demand pull – cost push.

Berkonomics

Demand pull: too much demand for a product or service and not enough supply cause a competition for the product that drives prices higher without increasing the intrinsic value of the product. Cost push: labor or parts costs increase, causing the product or service to be priced higher without adding intrinsic value.

Demand 136
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8 Ways To Ensure Customer Interactions Are Memorable

Startup Professionals Musings

Studies show that peer recognition programs are often more effective than bonuses or cash rewards. Relationships also build loyalty, get referrals, and drive more sales. That customer experience is the best competitive advantage you can have, and the best predictor of long-term success. Today is the time to start down that road.

Customer 147