The problem may be the result of how you price your products. Remember, the price you charge your customers should reflect the total cost of manufacturing the product or providing the service. Include all fixed, variable, and overhead expenses. Be sure to include your own salary. In addition, the selling price should include a profit for each item or service provided. The profit can be used to replace aging equipment or to expand the business as necessary.
FAQ #37270
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Although my business is very successful, I never seem to have enough money to replace worn out equipment. Why?
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Watch & Learn
E-Commerce Learning Modules
- A Beginner's Guide to e-Commerce. This module serves as a great stepping stone toward turning rural life skills into e-commerce ventures.
- e-Commerce as a Strategy for Improving Business VitalityEntrepreneurs considering using e-commerce can learn from the experience of others.
- Helping Artisans Reach Global Markets The content of the course provides artisans with sound, research-based information to make decisions on whether or not to develop a Web page, how to do it, utilize resources, and evaluate effectiveness.
- Marketing Food Specialty Products OnlineThe purpose of this learning module is to assist food retailers in making decisions on the use of online technologies in their marketing and planning strategies.
RESOURCES:
- Case Studies
- Information Briefs
- Data & Cool Tools
- State & Local Policies
- Research References
Build Your Business
- Online Tutorial on Farm Leasing
- Strategies to Improve Farm Business Management
- Visual Merchandising: The Silent Salesperson. View a recording of a marketing workshop conducted by Glenn Muske, Oklahoma State University. The workshop covers some key aspects of display as a sales tool. The workshop is approximately 45 minutes long.
Building Entrepreneurial Communities
- E-Commerce Module:Connecting Rural Communities
- Strengthening Competitive Advantage of Rural Businesses with e-Commerce and Experience Economy Strategies
- Mini-Course: Developing Diversified & Value-Added Agribusinesses
Blogs to Watch