Boot­camp

Busi­ness boosted by ex­pert talks

Pilbara News - - Front Page - Tom Zaun­mayr

The head of a small busi­ness ad­vi­sory ser­vice has en­cour­aged Pil­bara busi­nesses to think about in­creas­ing prices to re­flect the qual­ity of goods and de­sired image.

Speak­ing at the Kar­ratha and Dis­tricts Cham­ber of Com­merce and In­dus­try Busi­ness Boot­camp, Busi­ness Bak­ery founder Ju­lia Bick­er­staff said rais­ing prices by just one per cent would go largely un­no­ticed but could make a sig­nif­i­cant dif­fer­ence to a busi­nesses bot­tom line.

She said while busi­nesses which sell widely avail­able prod­ucts could find it hard to put prices up, small oper­a­tors should not be the same as any­one else.

“Ev­ery year ev­ery busi­ness should put their prices up,” she said.

“If you slash prices to make a dif­fer­ence be­cause of the econ­omy flat­ten­ing, you take 20 to 30 per cent off.

“When you build it back up, you do 2 per cent now, 2 per cent at Christ­mas, 5 per cent next year.

“If we want small busi­nesses to still be here, they have to charge enough to make money. It’s not about rip­ping peo­ple off, it’s about be­ing paid fairly for what they do.”

Mrs Bick­er­staff said a tech­nique called an­chor­ing, where a busi­ness shows cus­tomers a high price to start with be­fore com­ing in with a lower price prod­uct, was an ef­fec­tive way to trick, to tap the con­sumers’ mind.

“We of­ten don’t work as con­sumers in a ra­tio­nal way,” she said.

“Plant a seed of a num­ber in some way, then come in with a lower price.”

Pil­bara De­vel­op­ment Com­mis­sion chief ex­ec­u­tive Terry Hill said ini­tia­tives such as the boot camp would help rec­tify the un­der-rep­re­sen­ta­tion of small busi­nesses in the Pil­bara.

“De­vel­op­ing a ro­bust and di­verse small busi­ness sec­tor is a key pil­lar of the Pil­bara Blueprint that will cre­ate a stronger re­gional econ­omy,” he said.

Pic­ture: Tom Zaun­mayr

Busi­ness Bak­ery founder Ju­lia Bick­er­staff.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.