Do you want to start your own business? Or work for yourself? Do you know how much to charge? How to put a value on your products or services?
For many people, one of the most difficult parts of starting up a business is deciding how much to charge consumers for your product or service. The challenge of this comes from the delicate process of avoiding business failure.
To make money on a startup, you need to make enough money to cover the costs of running the business and bring in a surplus, which is your profit. No one starts a business to break even!
Charging too much or too little makes you uncompetitive in the market, and will likely determine whether or not the startup business will fail. Charge too much and your target market may look elsewhere for more cost-effective options. Charge too little and you may lose money. Because of this, choosing an initial price point is a decision that plagues many new business owners.
This course is designed to lead the student through the best practices for pricing products and services to set an initial market value. In addition, you will learn:
How to monitor the market for trends
The relationship between costs, profits, and pricing
Determining the value of the product or service
The differences between pricing products and pricing services
Common pricing methods
Determine when a price adjustment is necessary
Conducting ongoing market research
How to monitor the future of the market for the product or service
This course is ideal for those who:
Want to start a business
Have already started their business, but feel their pricing is not ideal
Are managing or leading a small business
Are looking to increase their knowledge of small businesses
Everyone who is interested in all aspects of creating and successfully running a small business
Trendimi courses are designed for anyone with an interest in learning. No formal qualifications are required. Our courses are suitable if you want to learn new skills, start a new career, or if you’re already working in a particular industry and wish to upgrade your talents and enhance your resume.
To receive certification, you must:
Complete every page of the course
Pass the exams with a minimum score of 55% for each (each module includes a test based on key learning objectives in that study topic)
If you meet this criteria, your certificate of successful completion will be emailed to you immediately after you finish the course
You will also have the option to order a hard copy certificate directly from ICOES. (www.icoes.org)
This course is CPD/CE accredited. Our CPD accredited courses count towards the total of CPD hours to submit for your job role. CPD points are accepted and recognized by employers from both the public and private sectors, and academic institutions across the UK and internationally.
Follow the easy peasy enrollment process
Absorb and remember course content with our easy-to-follow, structured information and helpful illustrations. And yes - you can study anywhere, anytime, from any device
Reinforce your learning with quizzes at the end of each module
Once you’ve successfully completed your course and passed the exams, you’ll receive your certification. Congratulations on your amazing achievement!