Tag: profits

Managed Service Providers Will Profit If They Learn Best Practices

Are managed service providers (MSPs) terminally unique in their business challenges? In other words, do they face unique challenges — such as in billing customers and in sales — all because they’re selling intangibles, not tangible products? No, they’re not terminally unique. Information-technology service providers face the same issues as most companies in traditional intangible sectors, such as insurance.

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Want Profits? Avoid Best Buy’s Example as Low-Price Leader

Best Buy provides lessons for small business. In adversity, there are two things a company must be hesitant to do: Cut marketing and human resources. Best Buy is a troubled company. Yet in 2014, it cut its marketing budget 26 percent, including its TV advertising budget 69 percent.
Some of it’s challenges stem from unfair Internet competition, and again it felt compelled to match the prices of online competitors in the 2013 holiday selling season. Once you start focusing on being the low-priced leader, you’ll stay there. Or worse, you’ll go out of business. In other ways, the company has caused its own problems.

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