This session provides practical strategies for determining the right pricing for your product or service to optimize profitability and sustain business growth. Participants will explore how to evaluate competitors, brand value, and customer segmentation to create pricing strategies that align with their business goals. Through an interactive approach, attendees will gain insights into the financial and psychological aspects of pricing, empowering them to make informed decisions that drive success.
90 minutes (Includes a 60-minute presentation and a 30-minute interactive workshop on pricing strategies using Excel) Key Takeaways:
1. Develop Strategic Pricing Skills – Learn how to determine the right price for your product or service. – Understand how to factor in competitors, perceived/brand value, and personal experience when setting prices. – Explore how to account for overhead and other indirect costs when direct costs are minimal. – Compare different pricing models, such as bundled pricing or subscription-based pricing, beyond the traditional price-per-product model.
2. Price for Customer Segmentation – Discover strategies for pricing tailored to different customer segments. – Evaluate whether listing your pricing publicly (e.g., on a website) is appropriate for your business model.
3. Maximize Profitability through Pricing – Identify methods for increasing profit margins through optimized pricing strategies. – Balance competitive pricing with maintaining perceived value and brand integrity.
Hosted by WEDC via the Main Street Bounceback Program
Stepping into the world of business ownership brings with it the critical responsibility of understanding and managing business taxes. Whether you’re a fledgling entrepreneur, a freelancer transitioning to a formal business entity, or a small business owner, grasping the basics of business taxation is essential for legal compliance and financial optimization. This foundational webinar is tailored to demystify the basic concepts of business and self-employment taxes.
From determining your tax obligations based on your business structure to exploring potential deductions that can minimize your tax liability, we cover the essentials that every business owner needs to know. Equipped with this knowledge, you’ll be better prepared to make informed decisions, set aside the appropriate funds for taxes, and maintain the financial health of your business.
Topics covered will include: • Understanding Business Tax Concepts: Learn the tax vocabulary and basic concepts related to federal and state taxes. • Understanding your Obligations: Identify the tax obligations specific to different types of business entities and understand the threshold for self-employment taxes. • Calculating Taxable Income for Businesses: Learn how to determine your business’s taxable income and implement strategies for tax planning and savings. • Recognizing Tax Responsibilities: Gain insights into the spectrum of taxes your business may be responsible for, including federal income tax, self-employment tax, employment taxes (if applicable), and state taxes. • Mastering Business Deductions: Discover key business deductions that can lower your taxable income and learn how to effectively leverage them for tax benefits. • Navigating the Tax Filing Process: Understand the step-by-step process of filing your business taxes, including where to file, what information and documents are needed, and deadlines to be aware of. • Implementing Effective Record-Keeping Strategies: Learn the importance of maintaining accurate financial records for tax purposes, what records to keep, and for how long, to ensure compliance and facilitate tax preparation.
Please note: This session is NOT intended to be an individual tax planning session. For personalized 1040 advice, please consult with your tax professional
