A Simple Guide to Dynamic Pricing

Imagine you are considering taking a vacation but you are struggling to make the final decision. You check on the price for the air ticket, but you don’t complete the order. The following day, upon checking the price, you see a huge price difference. Unlike companies such as tow truck Chantilly va that have fairly consistent pricing, there are industries such as airlines, that are defined by dynamic pricing. Dynamic pricing, also known as surge pricing, or demand pricing, is a time-based pricing strategy where businesses adjust the prices for their offering to account for changing demand. An example is how airlines shift seat prices based on seat type, the number of remaining seats as well as the time until the flight takes off.

The dynamic pricing strategy is aimed at maximizing profit off time-based opportunity. It is a delicate practice of pinning down the right price to suit the right level of demand, such that it operates at multiple price points, and hopes at hitting one that is the best solution at any given moment. Dynamic pricing can only be leveraged by businesses that fulfill certain requirements. A business has to have the capacity to gauge how and when demand shifts. If a company has a reference point for or understanding how its broader market fluctuates, then it won’t be able to effectively adjust prices to suit the changing demand.

Choice of Customers

A business needs to have customers who are willing to pay nonstatic prices. Companies will not expect to successfully use dynamic pricing mode; if their potential customers have no interest in paying extra under certain conditions. If an industry’s pricing structures are thoroughly established with consumers who stick to them diligently, there will be no much room for that business to adjust its prices dynamically.

Market Power

A business will need to have sufficient market power when setting prices. Any company can only set prices at will if it has a significant place in its market for consumers to be receptive to that change. If a relatively small business in a crowded industry decides to adjust prices dynamically, it becomes very easy for that business to make losses as a result of customer churn.

Dynamic price strategy comes with its fair share of pros and cons. On the side of the pros, employees can be paid higher wages during busier times. Dynamic prices give you the flexibility to reward and incentivize your employees during busier stretches. By adjusting prices to suit any heightened demand, you can raise important funds to more freely adjust wages accordingly.

Additionally, you can also sell in downtimes. When the demand is lower, your sales will tend to follow the same. Downtimes will always occur for a specific reason. It can happen when people are simply less inclined to buy at some point. Dynamic pricing can also be useful in helping you salvage some business during those stretches. By lowering prices to suit a lower demand, you stand a better chance to appeal to a broader base of consumers who are willing to stand with your business.

How to Start Your Career in Product Management?

Suppose you want to start producing cleaning services products and you are tasked to start the business, how do you go about it? Products management deals with uncovering and understanding the current and potential needs of a customer and mapping them out to produce a product customer would love. Product managers aid decision making across teams of designers as well as developers by identifying the pain points of a customer.

Product managers don’t create a product individually as it is the work product, development team. A product manager clearly articulates customer problem areas and determines the scale of an issue and works to give the direction to be followed for product development.

When it comes to product management, there are different types. These include;

Customer-focused product management

The customer-focused product manager has a background in engineering or customer support. They are fully focused on the product and how it best serves a customer. They have a very good understanding of a product’s customer base, and they are externally and internally focused.

Business-focused product managers

Business-focused product managers mostly come from sales or sales management. Their main focus is on how to fund, develop, and ultimately improve a product, as well as the impact such a product has on business. These types of managers have a unique understanding of the product’s place in the market and can be found working on the product more than anything else.

Product Management Process

The product management process brings together product development, marketing as well as sales. It involves building a vision for a product and developing a strategy for product design, production as well as the way it will go to the market.

If you want to become a product manager, there are a couple of key skills you need to have.


As a product manager, you need to be clear in the way you communicate, both verbally and in writing. You must have a good understanding of how to communicate with your product developers and designers about what needs to be developed. This includes communicating the need for the product and all related details about the customer’s pain points on what they need to be solved.


As a product manager, you will need to be highly organized. This is because a lot of o work you will do will need to be detailed and systematic. You will have to manage and organize all the information given to you by product owners as well as customers and work towards developing efficient decision-making processes across various teams, and communicate the same to members of your team


As a product manager, you will need to be very methodical and extremely creative. Creativity is what will help you devise new ways of solving customer pain points and developing effective solutions that can solve the issues customers face. You will also need to come up with a clear strategy that can help you get a lot of things done. You will need to strategically contribute to the product vision and lifecycle as well as the product roadmap.

How to Conquer Business Finances at Different Stages of Growth

Your business is doing well and revenue is growing, but this growth brings in new challenges. When that time comes, there is no need to get overwhelmed. You can effectively manage your business by following proven tips we shall be sharing in this guide. Tow trucks in Virginia Beach presents an example of players who have been on the forefoot on proper business management at different growth stages. As a business grows, finances become more complex and challenging. However, with some preparation and investment in the right tools, you can conquer any challenge.

Here are ways to go about it.

1. Put your finances in order

There are three critical stages of business growth and each of these stages presents its financial challenges. The first stage is getting your business off the ground. At the earliest stages of your business, the biggest challenge you will face is cash flow. As you generate business and develop trust with your clients, you may find yourself spending more than you’re making. The solution to that challenge lies in proper planning and measuring. Another challenge you will face deals with invoicing and tracking expenses and the solution to that is having a centralized accounting software.

While scaling your business, you will be faced with the challenge of managing a growing client base. The solution to that problem lies in automation. When it comes to accounting, it becomes more complex. This is where you invest in bookkeeping. At the last stage is having an established business. The key challenge you will face is resources. You need to make sound long term financial decisions.

2. Building your team

As your business grows, you will need to decide on how to manage your finances. One important person you will need is an accountant. A good accountant will offer tax advice and help you to file tax returns. He will also help you in determining the right accounting system and processes. They will also help you in setting up a payroll system and applying for business loans.

Plan and review your business financial reports

Whether you have established a working relationship with a third party accountant or an in-house expert, as a business owner, you also need to have visibility on the financial health of your business. You must know financial reports inside out. You may not need to analyze the numbers, but you must be able to identify the trends as well as all red flags such as unusual gains and losses. You must be able to tell if your business is healthy or not. Important financial reports you must read include; Profit and Loss Report, Balance Sheet, Cash Flow Statement, Statement of Financial Position, among others.

Stay flexible

Steady growth in your business may bring certain levels of stability in terms of revenue and direction of your business. As your business grows, you need to remain flexible so that you can maintain flexibility. You must be willing to adjust your business plan and operations accordingly. Be willing to learn and adapt to any changes affecting your industry.

Scale Your Business by Making the Best Use of Your Team

Being an entrepreneur involves a lot of things. In the beginning, you work for long hours, make big decisions, and give your team everything they need to succeed. However, at some point, you need to ease off lots of work on your desk so that you can concentrate on other tasks to scale your business. That is the same path https://athenstowtruck.com/ founder followed until making the business to its current state, with good management and lots of delegation. This is where effective and strategic delegation comes in.

Delegation is not easy but it is very necessary. Here are some important tips you can incorporate to make delegation smooth and effective.

Choose the right tasks

Entrepreneurs who have built a business on their own often have hard times trusting others to carry out tasks on their behalf. When you look at it from that perspective, it becomes a risky thing to do. It is important to delegate tasks that take up your time, by not your powers. You can start by logging everything you do in a week and figure out the tasks that you can delegate. You can delegate tasks that you are not so great at, very urgent tasks, or those that you don’t have enough time to deliver on.

Try the 70 percent rule

You need to recognize that most entrepreneurs have a hard time letting go. If you find out a team member can perform the task at least 70 percent as well as you can do, then he becomes a prime candidate for delegation. You will only need to work with the team member on the remaining percentage on their perfection.

Pick the right person for the job

The successful delegation will happen when you pick the right person for the job. If you need to hire someone to take over programming functions, look for people who have those skill sets. If you want to delegate internally, evaluate the skills your team members have, and see who has the closest to what you want. Consider the personal career goals of your staff members and how their role within the company may evolve.

Communicate effectively

When you are asking a new team member to take a new task or responsibility, it is a good idea to start the conversation by expressing your confidence in their ability to complete the task you will be delegating to them. You need to delegate 100 percent of the responsibility for the task and not just pieces of the task. Doing so will make the employee feel more competent and have the confidence to handle the task at hand.

Invest in teaching and training

You can put your team in the most suitable situation to deliver on any task by ensuring you invest in their development and give them the resources needed for their success. Call them to watch as you deliver a task and let them learn from you. Trust them on the tasks you delegate to them and correct them when they make mistakes. When a project is complex, ensure you walk them through the whole process so that they can deliver to expectations.

Benefits of a Local Business Website

Nowadays, the internet has influenced the way we work and live; but it is surprising to know that only few business owners have developed a website for their products and services. It is sad that only 46 percent of businesses own a website. This statistic is shocking when you realize that an average person spends 6 hours on the internet per day. According to survey conducted in 2014, 41 percent of local business owners claim they don’t need a website. This means that they are probably not aware of the many benefits of having a website.

Online Marketing

The online world is evolving at a fast pace, therefore, having a website is a must – particularly for small local businesses. If you desire to have more clients, you need to have an online presence so your potential customers can see information regarding your products at the click of a button. Without having a website, you’ll fizzle out over time. The several benefits of having a website include:

1.Improve the credibility of your business

Your website becomes your online business address. It is the place that clients, customers and business associates go to get in contact with you online or get some information regarding your company. The Home page of your the website shows the value of your brand, and the About Us page communicates to visitors about who you are and what your business is all about. It also has contact information for people to quickly get in touch with you.

A website will make your business more legitimate, thereby improving your credibility. It serves as a virtual proof that your business exists and it gives it an identity. Although having a social media account is important, that is not enough to establish some credibility. According to a survey conducted in 2015, 84 percent of clients think that having a business website gives your business better credibility that just having a social media page.

2. Cost reduction

When you have a website, you can be cutting on the cost of shop rent, utility bills and hiring addition staff. You can directly liaise with a customer to have their products delivered right at their doorsteps for a fraction of the cost.

3. Better customer service

It is no doubt that owning a website will greatly improve your communication with your customers. It is not possible for a store owner with staff members to oversee and observe them throughout the day to see how they interact with customers. But in the online world, nothing stays hidden. You can monitor the work of your staff and make sure customers receive a quick and helpful response.

4. Improve your online presence

Out of the population of the world, 47 percent of them make use of the internet daily. They are constantly sharing on social media platforms, searching for information or buying products. As the world becomes more dependent on mobile technology, this number is expected to grow. As a local business owner, if you don’t have a website, you will be undermining your ability to generate more income.

In conclusion:

Your website is one of your strongest marketing tools. It can give you an advantage over your competition and improve the image of your business. As a local business owner, you have to make sure you website is designed professionally and is fully functional with great content and quick download speed.

This article is sponsored by Orlando Towing & Recovery

Why You Need Ecommerce Software for Your Business

ecommerceEcommerce is a thriving business. Billions are spent every year online. With new products coming to market every year, there is still a lot of room for new online retailers. Other businesses such as http://www.platinumaccesslimos.com/ are also doing very well thanks to the internet. When you are considering starting an online retailer website, one important consideration is finding Ecommerce software. To help you with that, we are looking at 6 Ecommerce software features.

Customer Tracking

Ecommerce software can do more than just show your products and let people buy them. They can also add to your overall marketing strategy. For example, database tracking can be used to show certain customers specials on what they’ve already looked at. This allows a companies to target and track to increase conversion rates.

They can tell you a lot about your customers, even if they don’t make a purpose. They can track things like how many visitors you get, exactly which products they look at, and which ones they buy. Knowing how customers interact with your online store can help you increase conversions of web visitors into sales.

Easy To Setup

The days of needing someone to create a full software package are gone. Today, there are many Ecommerce software providers that offer templates. They also come with many different options for different product types. You can use these templates to get your store setup quickly. It also saves you time and money in development costs.

Search Engine Optimization

Even though you are selling products, you still need to think about search engine optimization (SEO). SEO helps the search engines know what your site and products are about. It also helps you to rank higher for terms associated with your store. This means that you will bring in more potential customers through the search engines. This is traffic that you don’t have to pay ads for.

Mobile Friendly

mobile friendlyWeb surfers today don’t just use a computer monitor. They are using many different devices including smartphones, tablets, laptops, etc. These devices all have different sized screens. This means that your online store needs to look good no matter what size the screen is. You want to find a software package that is optimized for different screen sizes.

Integrates With Your Accounting System

There are many different account programs. QuickBooks has become the most widely known name. There are many different online store programs that will integrate with your accounting programs, especially QuickBooks. This allows you to seamlessly track sales, accounts receivable, and accounts payable into one location.

Integrates With Online National Retailers

If you are going to sell products on other sites like Amazon then this is a great feature. There are many packages that will integrate directly with them. This allows you to put your product information on your site and have it synced automatically.

Selling products online is a great way to build your business. You can tap into the billions that are spent every year online. When you are planning your online store, there are several things to think about. One of these is choosing an Ecommerce software program. You want to keep in mind search engine optimization, a site that is optimized for any size screen.

How to Build a Remarkable Website to Showcase Your Real Estate Firm

Real estateThere are many industries that have embraced the internet revolution over the last two decades. Real estate is one of these industries. You are hard pressed to find a real estate agent that isn’t online right now.

You don’t have to take tours of houses anymore because you can take virtual tours online. If you are new to real estate or haven’t created an online presence yet then there are many things to consider. We want to help you by explaining how to go about building a remarkable website to showcase your real estate firm.

Feature Your Experience                                                      

When many businesses, including real estate agents, think about their websites they immediately want to focus on selling more homes. But, anyone in the profession of selling anything knows that people buy from people they trust. Your website not only can help you sell homes but can help you build that trust with prospective buyers and sellers.

Building this trust starts with showcasing the experience of your team. You want to explain how your agency does business, the steps you take for both buyers and sellers, and the homes that are on the market at the moment. You also want to highlight the certifications and accomplishments of each agent that is part of your team. Let people get to know you.

Design Matters

Unfortunately, it is true that people judge a book by its cover. SEOMoz, one of the leading researchers in Search Engine Optimization, studies how people search online and how search engines rank businesses. They performed a test using website design. They built two websites that contained the same exact articles. But, one was very plain and one used a visually stunning design. They then asked people which site was more trustworthy. Overwhelmingly, people stated that the site that was visually appealing was more credible.

Content is King

Getting new clients to your website means getting found in the search engines. But, getting ranked in the search engines is more than just telling about your business. One of the factors that search engines like Google, Yahoo, and Bing use is how fresh a website is. That is why every business should include a blog with information that is relevant to their potential customers and make sure that new posts are added regularly.

There are many things to look at when you start to plan a website for any business. This is especially true for real estate agents. But, it doesn’t have to take a committee or month to put together. You just need to get with a quality web designer. You also want to make sure that you are providing specific information that allows prospective clients to get to know your agency and your team. You want to create a site that is visually engaging.

Another major factor is to either write regular blog posts about things that will interest prospective clients either yourself or work with an experienced writer. This will make sure that the search engines know you are regularly updating your site. If you keep these things in mind then you will be well on your way to building a remarkable website to showcase your real estate firm.




Top Mobile Apps that can Help You Find Your Next Home

truliaFinding the next perfect place to live can certainly make stress run higher and make your life miserable. Searching for a new house means you need to navigate overwhelming phone listings, fees, contracts, application, and endless showings.

Are you looking for a house or planning a new move? You probably know that this process is completely stressful from the search, buying and up to the move itself. The good thing is that the world has revolutionized in the past decade.

With the help of internet and reliable applications, finding a new house is now a breeze. Stay on top of your house hunt and find the perfect abode with the help of apps and blogs. The emergence of apps that can help you find your next new house is a clear indication that modern technology has made every aspect of individuals’ lives easier.

If you are having some trouble, the following 4 awesome apps can help you every step of the way.


This is a free app that can help house hunters who are always on the go. Trulia app is capable of showing users properties for sale or for rent nearby. This app can also be used to determine if a house is still available for sale or has been sold out already.


REALTORThis app allows users to easily find homes for sale near their recent location. Individuals can also this to find upcoming open-houses nearby, pricing data on homes for sale and more. This app also allows you to view properties either as on maps or on lists that are centered in your present location.


This app is now gaining high marks and positive reviews because of its ability to allow you to take snapshots of a particular residential property utilizing the camera of your Smartphone and gets necessary information instantly regarding the properties.

With this app, you will be able to find the estimated value of a home, a number of bedrooms, bathrooms and many other amenities the property has. Even if the home is not available, this app will still show you nearby listings. HomeSnap makes use of your mobile phone’s GPS in determining your location and the property you have just photographed.


This is another reliable app that can help you find your next new house with ease and convenience. Using the GPS of your Smartphone, this app automatically provides you with projected and current value of a given property near your present location or other areas you choose.

Moreover, the Zillow app reveals details regarding different properties for sale. You also obtain data about houses that have been sold recently as well as estimated values of properties in the process of foreclosure but have not yet been on the market. This also comes with calculators which help in estimating whether one can afford to buy the house.

Besides installing these apps to your smartphone, one can decide not to install them and instead visit specific websites using their laptops or desktop applications.


How to Incorporate Online Marketing to Your Business

Online MarketingMoney is out of the story if you want to reach  potential customers through the web since it is never expensive to effectively reach your target market online. What you only need in here is a matter of strategy and commitment. Through effective online or internet marketing, you can build an effective reputation online that will then lead to your success in the online aspect of your business.

If you want to incorporate online marketing into your business right away, you should now start including online marketing strategies to your overall marketing plan. Internet marketing should now be part of your incorporated approach. How can you do this? This is what we shall be looking at today.

Digital media is now the popular means to put your business up the ladder and ahead of the competition. When you market your business, you allure people to purchase your products and services. The web is a very powerful, cost-effective vehicle that will drive you toward your focus market. You should consider the following topics for your overall online marketing strategy.

  • Company website
  • E-commerce site
  • Search engine optimization
  • Search engine marketing
  • Email marketing
  • Online advertising

All these subjects are vital for your online marketing. Businesses which like to raise the results of normal advertising need to combine their advertising strategies with their online strategies rather than viewing them independently.

For instance, a good online website can improve the effectiveness of your other advertising efforts because people who’ll see your company’s advertising efforts will review your products and services over the web.  Incorporating internet marketing efforts with other advertising efforts ascertains that your business renders a consistent form of brand experience.


The Best Way to Get the Interest of Online People Is to Get to Know Them

ListeningAs you want to incorporate online marketing into your business, understanding and monitoring online usage patterns are not enough. To get your target market’s interest, it is imperative to determine their activities and to get to know them well.

Through research, discover what the behavioral patterns of your target market whenever online.  For instance, before establishing an e-commerce solution, you should determine the shopping preferences and patterns of your focus market.

Know what they usually shop. Discover what makes them buy a product. Through identifying the needs and expectations of your target market even before you start your online marketing strategies, you are able to build a strong and confident foundation with them.

Your Website Has a Lot of Purposes

Your website serves a lot of purposes. It is the natural destination of customers. Visitors come to a site to find useful information and new stories. During the exploration mode, every page of content has less than one minute to talk to your visitors.

Thus, aside from using your site to introduce and market your products, make sure it is full of content that is worth staying for to visitors. Don’t forget to also optimize your content as this will greatly help your site get into a higher position in the search engine results.