Profit

Greed

The Truth About Business Greed And Profits

Small Business Finances / ,

Many People Believe That Profit Is The Only Thing That Matters, And Those Business Owners Are Driven By Greed. Not True. Profit Is A Critical Ingredient For An Organization To Stay In Business. Profit Is An Indicator Of How Well The Company Is Performing, A Feedback Mechanism To Correct And Improve Performance, Insurance To Ensure Survival In An Uncertain Future, And The Investment Capital For Future Expansion Of Jobs Or New Machinery.

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AI Image of magnifying glass to depict pricing at the margin

To Maximize Profit You Need To Understanding Margin Pricing

Small Business Finances / , ,

The successful entrepreneur is one that keeps his eyes and ears open and takes stock of events happening around him. This is important not only to determine the margin price but to consider the impact potential events could have on the margin price in the future and develop contingency plans to deal with them.

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Use Behavioral Economics for Profit

Use Behavioral Economics for Profit

Learn to Think Like a Customer / ,

Economics assumes that an individual provided with all the facts will respond rationally and make good buying decisions. Behavioral Economics recognizes that our brains are hardwired in certain ways that make us respond, often quite predictably and irrationally, in ways contrary to logical economic rules. With a better understanding of just a few hardwired behavioral

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