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show notes

Stages of Development

Episode A5.007 Audit the business to identify where to increase value and not reduce prices in the future

24/8/2020

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Introduction
For the past six weeks we have discussed the steps we need to go through as we enter Stage 5 - the period where we maximize the value of the business to either sell or self fund.  This is after a period of great revenue growth.
We’ve reviewed contracts, reviewed processes at every level and optimized all elements for profitability.  We have conducted a business valuation and now we are looking at how to maximize value without reducing prices in the future 

Have a great business week.
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Listen>Apply>Engage
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Show Objectives - The Why
Customer acquisition vs customer monetization.
How to optimize pricing and who should be involved.


Key Issues - Owner Perspective:
  1. Cost Plus Pricing
  2. Competitor Based Pricing
  3. Value Based Pricing

What You Need to Know - The What
    
      1.    Customer Acquisition Cost (CAC) versus Customer Lifetime Value (LTV)
  1. Data on customers and competitors
  2. Developing higher quality products
  3. Great customer service

​What You Need to Do​​ - The How
Companies that successfully use value based pricing.

Shows
  • Previous: Episode A5.006 Conduct business valuation for sale
  • Next: Episode A5.008 Audit the business to identify how to increase revenue instead of reducing costs in the future 


Written by Ellen McIlhenny - CFO Plus Services - www.cfoplusservices.com

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