4 Tried and Tested Ways To Ensure You Get Your Pricing Right


There’s no doubt that applying the right pricing to your business can help you make more profit. In fact, McKinsey, the global consulting firm, suggest that pricing has a bigger impact on a company’s profit than anything else. How can you make sure you’re making the right pricing decisions that make you the most profit? Read on to gain insight into pricing anchors and then 4 tried and tested ways for you to successfully apply them to your business. Pricing Anchors… Anchoring is profoundly important to pricing for profit. Here’s why… A product is never really […]

Using Guarantees Wins Sales


A concern that most of your prospective buyers will have is: What if this isn’t right for me? What if I change my mind? What if I don’t like it or I don’t want it? If you can eliminate this concern and reassure your buyer you’re more likely to be able to convert the sale. Eliminate those concerns by using a guarantee This reassures the customer that buying the item isn’t the end. Their interests will still be protected post-sale. You could think about having a guarantee along the lines of: “If you’re not completely satisfied […]

Tax Deadline Day Looming!


The pressure’s on for everyone under self-assessment with the tax return filing and payment deadline at the end of this month. What does this mean for you? Your tax return must be filed by October 31st Any balance of tax due for 2015 must be paid by October 31st Preliminary tax for 2016 must be paid by October 31st File your return If you’ve not already prepared and submitted your tax return you need to get this organised straight away. Filing a tax return late will lead to a late submission surcharge, and the amount increases […]

3 Strategies To Give You A Competitive Advantage!

Porters 5 Forces

In a recent article we looked at Porter’s Five Forces to show how you can analyse your competitive environment. Of course once you’ve done the analysis you need to come up with a strategy that will help you get an advantage. Porter identified three generic or basic strategies that a business could choose between. Cost leadership Differentiation Focus This is about producing your goods and costs at the lowest cost in your industry. Then you sell them at the same price as everyone else and get the benefit of the extra profit. Or you use your […]

Where Do You Fit Within Porter’s Five Forces?

Porters 5 Forces

A key problem for all business owners is how to deal with the competition. Perhaps you suffer from intense competition from a rival, or maybe you’re worried about competition coming from new sources as technology advances. A question that you probably often ask yourself is: How can I get – or stay – ahead of the rest? The first step to answering this question is to analyse your competitive environment. This allows you to see where you currently fit in the marketplace so that you can then find ways to improve your position. A great analysis […]

One Tip That Will Help You Convert More Sales


Whatever you’re selling, one question your prospective customer will be asking is: how do I pay for this? This could range from wondering if payment plans are available through to which credit cards you take. Face the facts… The reality of modern life is that many people don’t carry cash or use chequebooks. That’s especially important to realise if your customers are the general public. If you don’t have card facilities you could be missing out on a huge swathe of potential customers. If you have an e-commerce website then make sure you have a wide […]

5 Proven Growth Strategies To Grow Your Business

5 Proven Growth Strategies To Grow Your Business

Most of us accept that standing still with our business actually means falling back. We see the need for business growth. And when we start a business from scratch then we’re especially keen to see that growth. But you ask; how do I get that growth? The answer is to have a growth strategy in place. And in this article we take you through 5 proven growth strategies that will grow your business. What’s a growth strategy? Put simply it’s a roadmap for your business that shows where you are now and where you want to […]

Have You Downloaded Our Free Parfrey Murphy App Yet?

Parfrey Murphy App

Developments in the use of mobile devices is changing the way we all use the internet. Our mobile devices have become our music and video player, our camera and our main method to communicate and research questions. Many tasks that would typically be done on traditional desktop computers are now being done on mobile devices. So we were delighted recently to announce the release of our own free Parfrey Murphy app. With only a few accountants in Ireland having their own App we’re excited to be at the forefront of the kind of technology designed to […]

Take Time To Find The Right Pricing System For You And Your Business


In his brilliant book, Priceless – The Hidden Psychology of Value, William Poundstone has done a fabulous job of pulling together some of the best science about pricing. Pricing can be a difficult subject to tackle and even more difficult to get right, both for a multi-million euro company or the local hairdresser. Buyers… Buyers are now more savvy. They have more options and they can very easily compare your price to the competition. Therefore their expectations are much higher. But if you get your pricing right then you can tap into the higher profits your […]

October 31st Tax Return Filing – Are You Ready?


October 31st is fast approaching! Just a little more than 2 months left for anyone under self-assessment to submit their tax return and pay their tax bill. What October 31st means… If you’re under self-assessment, either on or before October 31st you must… Make your tax return for the 2015 tax year. Pay any balance of tax due for 2015. Pay Preliminary Tax for 2016. What do you need to? Right now… If you’ve not already contacted your accountant and provided the information they need to prepare your accounts and tax return, then you should do […]

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