I run a sustainable fashion brand and have worked with a ton of purpose-driven founders. One misconception that I constantly hear is that businesses with an ethical mission shouldn’t prioritize making money. But your business is not a non-profit, and you have to make money in order to make an impact (and make a living).
As consumers start their holiday shopping, you will be competing with tons of eCommerce brands that are hosting sales for Black Friday. To compete with these businesses and to get your products out the door, you may need to host a sale - and this isn’t a bad thing! But first, you must get a handle on your pricing and understand your profitability.
On this week’s episode, I’m sharing 5 tips to help you plan for a successful sale to help you this holiday season. I’ll be walking you through checking your profit margins and selecting between various discounts.
Remember that it’s not a crime to want to make money while running an ethical business. I hope that my advice can help you with your money mindset and continue to make your business profitable!
Have a listen to episode 2 from season 4 of Brave and Boss: The Podcast on iTunes or Soundcloud.
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KEY INSIGHTS FROM THE EPISODE:
- How should I be pricing my products?
- What is considered a good profit margin?
- When should I be running a sale?
- What discounts should I provide for my customers?
- What's holding YOU back from $25k months in your online store? Take my FREE quiz and find out.
- Get a Shopify store with a 90-day FREE trial
- Want to rock Black Friday this year? Check out my 2.5 hour workshop on how to plan your best BFCM yet.
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- Join our FREE Facebook group for eCommerce store owners