JDI Services Pty Ltd in Cremorne, New South Wales | Business consultant

JDI Services Pty Ltd

Locality: Cremorne, New South Wales

Phone: +61 438 244 634

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25.01.2022 Feeling stuck? Business stagnating? Our expert business coaches work one on one with you to develop and implement a plan to get your business growing again. Contact us today!

24.01.2022 We're back after the long weekend! Let's get stuck into part 4 of our pricing strategy series where we look at sales related pricing. Part 1: https://tinyurl.com/yb6mxxsu Part 2: https://tinyurl.com/ydgbp9vo Part 3: https://tinyurl.com/ycut4ggm... SALES RELATED PRICING OBJECTIVES Sales oriented pricing objectives seek to boost volume or market share. A volume increase is measured against a business’s own sales across specific time periods. A business’s market share measures its sales against the sales of other companies in the industry. Volume and market share are independent of each other, as a change in one doesn't necessarily activate a change in the other. The main sales-related pricing objectives include: Sales growth: It can be assumed that sales growth has a direct positive impact on profits so pricing decisions are taken in way that sales volume can be raised. Setting a price, altering or modifying policies are targeted to improve sales. Targeting market share: Pricing decisions are taken in such a way that enable your business to achieve targeted market share. Market share is a specific volume of sales determined in the light of total sales in an industry. Increase in market share: Sometimes, price and pricing are taken as the tools to increase market share. When you realise that your market share is lower than expected it can be raised by an appropriate pricing strategy.

22.01.2022 Check out this video on Prices Law and how it relates to your own experiences as an employee: https://www.youtube.com/watch?v=5gvFaYgkqO4

21.01.2022 It's time for part 6 of our pricing strategy series: Part 1: https://tinyurl.com/yb6mxxsu Part 2: https://tinyurl.com/ydgbp9vo Part 3: https://tinyurl.com/ycut4ggm... Part 4: https://tinyurl.com/y94mdlgc Part 5: https://tinyurl.com/y53gzhcq CUSTOMER-RELATED PRICING OBJECTIVES Customers should be central to every marketing decision so, in order to keep customers on your side you need suitable pricing policies and practices to win the confidence of customers. Customers are your "targets." Your business should be setting its pricing policies to win over the confidence of your target market. By appropriate pricing, you can establish, maintain or even strengthen the confidence of customers that the price charged for your products or services provides a great level of return on investment. To increase customer satisfaction should be the prime objective of all marketing efforts and pricing is no exception. Your business should set, adjust, and readjust its pricing to satisfy its target customers. In short, design pricing in such a way that results in maximum customer satisfaction. Find out more at http://jdiservices.com.au/

19.01.2022 How important is cash flow to your business? VERY IMPORTANT! This is a great video on this subject! ... https://www.youtube.com/watch?v=65Yoz3AdQig

18.01.2022 If you are planning on selling your business, make sure your business is prepared for sale and that you have a realistic sale price. If you are planning on buying a business, make sure that you are able to calculate a purchase price that provides you with an exceptional return on investment. Generally sellers value their business on potential whilst buyers value a business on historical trading results...thats why so many small businesses never sell and the sellers close the doors on their business!

17.01.2022 It's time for part 5 of our pricing strategy series: Part 1: https://tinyurl.com/yb6mxxsu Part 2: https://tinyurl.com/ydgbp9vo Part 3: https://tinyurl.com/ycut4ggm... Part 4: https://tinyurl.com/y94mdlgc COMPETITION-RELATED PRICING OBJECTIVES Every business should attempt to react to their competitors with appropriate business strategies. With reference to price they may wish: To face up to the competition: today’s markets are characterised by intense competition and businesses will modify their pricing policies so as to respond to their competitors. Many businesses use price as a powerful tool to react to the level and strength of competition. To deter competitors: to prevent the entry of competitors can be one of the main pricing objectives. To achieve this objective, a business will keep its price as low as possible to minimise profit attractiveness of products or services. In some cases, a business will react offensively to prevent entry of competitors by selling products at a loss. Signal quality: buyers believe that a high price is related to high quality. In order to create a positive image in your customer's minds that your product or service is superior to that offered by close competitors you will design your prices accordingly. REMEMBER THAT INCREASING PRICES DOESN'T AUTOMATICALLY MEAN LOSING CUSTOMERS! Find out more at http://jdiservices.com.au/

17.01.2022 Its time for part 6 of our pricing strategy series: Part 1: https://tinyurl.com/yb6mxxsu Part 2: https://tinyurl.com/ydgbp9vo Part 3: https://tinyurl.com/ycut4ggm... Part 4: https://tinyurl.com/y94mdlgc Part 5: https://tinyurl.com/y53gzhcq CUSTOMER-RELATED PRICING OBJECTIVES Customers should be central to every marketing decision so, in order to keep customers on your side you need suitable pricing policies and practices to win the confidence of customers. Customers are your "targets." Your business should be setting its pricing policies to win over the confidence of your target market. By appropriate pricing, you can establish, maintain or even strengthen the confidence of customers that the price charged for your products or services provides a great level of return on investment. To increase customer satisfaction should be the prime objective of all marketing efforts and pricing is no exception. Your business should set, adjust, and readjust its pricing to satisfy its target customers. In short, design pricing in such a way that results in maximum customer satisfaction. Find out more at http://jdiservices.com.au/

14.01.2022 Is a pricing strategy fundamental to business success? YES. We will share with you the reasons why and the different types of pricing strategy over the next 2-3 weeks.... A pricing strategy broadly underpins the pricing process for a product or service and it should reflect your businesses marketing, financial, strategic and overall goals, as well as customer price expectations and the levels of your available stock or your current resources that are available. Examples of pricing objectives can include maximising profits, increasing sales volume, matching competitors prices, deterring competitors or just pure survival for your business. Each pricing objective requires a different price-setting strategy in order to successfully achieve your respective business goals. It requires you to have a firm understanding of both your product or service attributes and the market that you are operating in. Your choice of a pricing objective will need to constantly be reviewed and may change as your circumstances change. As your business changes or the market conditions change, adjusting your pricing objective will most probably become necessary and appropriate.

13.01.2022 In part 3 of our pricing strategy series we look at pricing for profit. Part 1: https://tinyurl.com/yb6mxxsu Part 2: https://tinyurl.com/ydgbp9vo... PRICING FOR PROFIT This objective is aimed, simply, at making as much money as possible for your business and to maximise price for long-term profitability. Price has both a direct and indirect effect on your profits - the direct effect relates to whether the price actually covers the cost of producing the product or providing the service. Price affects profit indirectly by influencing how many units you sell. The number of products sold or services provided also influences profit through economies of scale, i.e. the relative benefit of selling more units and upscaling your business. Profit margin maximisation seeks to maximise the per-unit profit margin of a product or service provided. This objective is typically applied when the total number of units sold is expected to be low.

12.01.2022 Are you confused about the difference between Operating Expenses and Cost of Goods? Read on... ________________________________________________________ Operating Expenses and Cost of Goods Sold (COGS) are both expenditures or costs that a business incurs. However these expenses are separated on the Profit and Loss report which makes it easier to analyse the financial performance of the business. ... Operating Expenses and COGS measure different ways in which resources and costs are spent in the process of running a business. When a Profit and Loss report is generated, cost of goods sold and operating expenses are shown as separate line items. The easiest way to determining this is to ask if the expense would still have occurred if a sale had not been made. If the answer is YES, then the cost would be classified as an operating expense. For Operating Expenses: These are costs that are not directly tied to the production of goods or services. Typically selling costs, general costs and administration costs are classified as operating expenses. These may include: Rent Utilities Office supplies Legal costs Sales and marketing Payroll Insurance costs All Businesss will incur costs that are independent of the level of sales they produce and therefore Operating Expenses are generally the recurring costs that are not directly related to the actual goods or services provided. For Cost of Goods Sold: Cost of Goods Sold is the direct costs tied to the production of a companys product or the services provided. COGS represents the business expenses that are directly incurred because a transaction or sale has taken place. Examples of COGS include: Labor or sub contractor costs directly tied to production or services provided Depreciation of the manufacturing plant Utilities of the facilities tied to production Direct materials needed for the production of goods and services All Businesss will incur costs that are directly related to the product or service provided to their customer as part of a sale transaction - hence the term Cost of Goods Sold.

12.01.2022 Were back with the final part of our pricing strategy series! SURVIVAL PRICING OBJECTIVES This is perhaps the most fundamental of all pricing objectives. Pricing is aimed at survival with a hope for growth in the (not too far distant) future. Your business may use a survival-based pricing objective when its willing to accept short-term losses for the sake of long-term viability.... Under this objective, pricing can be flexible and prices are lowered in order to increase sales enough to keep the business going, i.e. cover essential costs. For a short term and on a temporary basis, the goal of making a profit is set aside for the objective of survival. Once the situation that initiated the survival pricing has passed, product prices should be returned to previous or more appropriate levels. Find out more at http://jdiservices.com.au/ Part 1: https://tinyurl.com/yb6mxxsu Part 2: https://tinyurl.com/ydgbp9vo Part 3: https://tinyurl.com/ycut4ggm Part 4: https://tinyurl.com/y94mdlgc Part 5: https://tinyurl.com/y53gzhcq Part 6: https://tinyurl.com/y5ees23f Part 7: https://tinyurl.com/yya6yryr

12.01.2022 Are you frustrated with your under performing sales team? Coaching and training play a vital role in improving your sales team performance. We all know that sales reps need to be coached on a regular basis to keep them focused and performing at an optimal level. Here are some tips to improve sales team performance:... 1. Clarify the sales objectives individually and as a team 2. Set specific goals break objectives down into smaller, achievable tasks 3. Teach your sales team to sell to customer needs and how to be customer-centric 4. Work on the basics review them regularly. The small things matter. 5. Work on time management skills teach reps to prioritize their time 6. Find and hire the right people 7. When coaching, address key performance indicators 8. Coach in the moment address concerns right away 9. Be a leader, not a micro manager 10. Work on creating a culture of high performance

10.01.2022 In part 2 of our pricing strategy series we explore how to choose a pricing objective. Missed part 1? Take a read here:https://tinyurl.com/yb6mxxsu HOW TO CHOOSE A PRICING OBJECTIVE:... Pricing objectives are selected for your business with your business and financial goals in mind. You will need to consider your businesses current and future objectives. If one of your overall business goals is to become market leader then youll want to consider the quantity maximisation pricing objective as opposed to the survival pricing objective. If your business mission is to be a leader in your industry, you may want to consider a quality leadership pricing objective. Some objectives, such as survival and price stability will be used when market conditions are poor, when first entering a market or when a business is experiencing hard times and needs to restructure.

10.01.2022 Understanding the value of your business is an important step for any business owner. Speak to our team today about how to start calculating this. https://www.kochiesbusinessbuilders.com.au/understanding-v/

09.01.2022 Merry Christmas & Happy Holidays! We hope everyone is enjoying the holiday break.

09.01.2022 Are you confused with Profit/Loss, Balance Sheet, and Cash Flow financial reports? Check out the below video: https://www.youtube.com/watch?v=6GVVTfj7ndc

09.01.2022 Make 2019 the best yet! Register now to see if you qualify for our 30 day free business coaching service. Limited spots available for January 2019.... You will receive the following: A minimum of 8 hours free business coaching for 30 days. Personalised one on one coaching. Business health check and the development of a comprehensive business improvement plan. Get in touch now: https://www.jdiservices.com.au/sydney-business-coaching

08.01.2022 We work with YOU - to encourage, guide, and inspire you to be a better leader and maximise your business performance. Speak to us today.

05.01.2022 Its time for part 5 of our pricing strategy series: Part 1: https://tinyurl.com/yb6mxxsu Part 2: https://tinyurl.com/ydgbp9vo Part 3: https://tinyurl.com/ycut4ggm... Part 4: https://tinyurl.com/y94mdlgc COMPETITION-RELATED PRICING OBJECTIVES Every business should attempt to react to their competitors with appropriate business strategies. With reference to price they may wish: To face up to the competition: todays markets are characterised by intense competition and businesses will modify their pricing policies so as to respond to their competitors. Many businesses use price as a powerful tool to react to the level and strength of competition. To deter competitors: to prevent the entry of competitors can be one of the main pricing objectives. To achieve this objective, a business will keep its price as low as possible to minimise profit attractiveness of products or services. In some cases, a business will react offensively to prevent entry of competitors by selling products at a loss. Signal quality: buyers believe that a high price is related to high quality. In order to create a positive image in your customers minds that your product or service is superior to that offered by close competitors you will design your prices accordingly. REMEMBER THAT INCREASING PRICES DOESNT AUTOMATICALLY MEAN LOSING CUSTOMERS! Find out more at http://jdiservices.com.au/

05.01.2022 Some great advice on networking!

01.01.2022 Its time for part 7 of our pricing strategy series: MARKET PENETRATION PRICING OBJECTIVES This objective is concerned with entering deep into the market to attract the maximum number of customers. This objective calls for charging the lowest possible price to win price-sensitive buyers. A penetration strategy might be right for your business if you are in a position to rapidly gain market share, bring down unit costs and purposefully price low to create barriers to entry.... You will make a grab for market share and then expand but must appreciate that a penetration strategy is most risky from a profit and revenue standpoint. You will need to be able to gain huge market share rapidly and follow through on future price increases. If you gain customers early in such markets you are better positioned to maximise customers lifetime value from future sales and upsells. STABILISING PRICING OBJECTIVES This objective seeks to keep your product or service prices in line with the same or similar products offered by your competitors to maintain a stable level of profit generated from a particular product or to avoid starting a price war where no one wins. Its a tactical goal that encourages competition on factors other than price and focuses on maintaining market share. Stability in price makes a good impression on your buyers as frequent changes in pricing can adversely affect the prestige of your company. Find out more at http://jdiservices.com.au/ Part 1: https://tinyurl.com/yb6mxxsu Part 2: https://tinyurl.com/ydgbp9vo Part 3: https://tinyurl.com/ycut4ggm Part 4: https://tinyurl.com/y94mdlgc Part 5: https://tinyurl.com/y53gzhcq Part 6: https://tinyurl.com/y5ees23f

01.01.2022 Were back after the long weekend! Lets get stuck into part 4 of our pricing strategy series where we look at sales related pricing. Part 1: https://tinyurl.com/yb6mxxsu Part 2: https://tinyurl.com/ydgbp9vo Part 3: https://tinyurl.com/ycut4ggm... SALES RELATED PRICING OBJECTIVES Sales oriented pricing objectives seek to boost volume or market share. A volume increase is measured against a businesss own sales across specific time periods. A businesss market share measures its sales against the sales of other companies in the industry. Volume and market share are independent of each other, as a change in one doesnt necessarily activate a change in the other. The main sales-related pricing objectives include: Sales growth: It can be assumed that sales growth has a direct positive impact on profits so pricing decisions are taken in way that sales volume can be raised. Setting a price, altering or modifying policies are targeted to improve sales. Targeting market share: Pricing decisions are taken in such a way that enable your business to achieve targeted market share. Market share is a specific volume of sales determined in the light of total sales in an industry. Increase in market share: Sometimes, price and pricing are taken as the tools to increase market share. When you realise that your market share is lower than expected it can be raised by an appropriate pricing strategy.