How to ensure that the price of your products and services is profitable

Having a product or service in place and seeing your sales grow doesn’t necessarily mean you’re making a profit. One of the biggest mistakes small and mid-sized businesses make is pricing their products and services based only on competitors’ strategies or their clients’ purchasing power. Maintaining solid financial health is a challenge for many companies. […]

What is the Cost of Goods Sold, and How to calculate it?

Many companies miscalculate their profitability by failing to properly classify and allocate both their direct and indirect business costs. To accurately assess your organization’s gross profit — and ensure your pricing truly generates profit — it’s essential to understand what the Cost of Goods Sold (COGS) means and how to calculate it. The COGS represents […]