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.
New to SmallBizSurvival.com? Take the Guided Tour. Like what you see? Get our updates.
- How has 2020 changed the challenges rural small towns face? Tell us here - October 20, 2020
- The Idea Friendly Method to surviving a business crisis - October 6, 2020
- Join me for the Rural Renewal Symposium online Oct 13 - September 26, 2020
- Cheap placemaking idea: instant murals - September 11, 2020
- Refilling the rural business pipeline - July 7, 2020
- Huge vacant buildings: grants to renovate? - June 9, 2020
- Economic self defense for small towns - June 7, 2020
- The best things you can do for local businesses in light of coronavirus - March 27, 2020
- How to get more parking downtown without adding any spaces - March 7, 2020
- Exact Yeti Blue mic volume and Windows settings to reduce background noise - February 17, 2020
