Small business mistakes can cost you

Common mistakes can kill your small business. That’s why we have an ongoing series of examples: so we can learn together.

Today’s example is from the recent panic buying driving up prices in the firearms industry, post-election. One small business quickly raised prices on their website. Unfortunately, they forgot to update the list price. The end result: Your Savings turned into a big negative number. Oops!

What is the lesson? Well, I would say to avoid price gouging during panics. And to approach price increases in a considered manner. Just a thought.

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About Becky McCray

Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.

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