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Imagine you have a shop. If you sell your products only at that shop, that’s called single-channel. But what if you sell in the shop, online, and even at markets? That’s an omni-channel marketing strategy. Omni-Channel is the advanced version of multi-channel. It’s when you sell your product in many places, and it’s all connected.…
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You’re ready to start your packaged food business and now you have a lot of little loose ends to tie up. Let’s talk about profit margins and pricing for profitability. It’s critical to make sure that you price your product for profitability. There are four common mistakes that packaged food business entrepreneurs make when they…
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In the realm of small food businesses, the “Profit First” accounting method by Mike Michalowicz presents a paradigm shift in financial management. Let’s take a look at this innovative approach and its implications for your businesses. Traditional Accounting vs. “Profit First” Method Traditionally, profit emerges after expenses are deducted from revenue. However, the “Profit First”…
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Think the naming of your business is just a “formality”? It’s not.
