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In a recent post on Business Analysis Using SWOT, I covered many points entrepreneurs should think about as they analyze their situations when starting a small business. One of the ideas I wrote about was an assumption many entrepreneurs make when it comes to pricing a good or service. That is: I can price less and take business away from a higher-priced competitor. There are several things an entrepreneur should take into consideration when setting prices, not least of which is how competitors set their prices.
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I am fully aware that companies sometimes need to change their policies. When it comes to buying coffee by the pound at Starbucks, it seems the company enjoys frequently confusing their customers changing their policy of what you get when you buy your coffee. Their new policy has sadly driven me to buy from Peet’s or another local coffee shop. [click to continue…]

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Business Analysis Using SWOT (Strengths-Weaknesses-Opportunities-Threats)

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