Unrealistic pricing
You must truly understand your costs, which include often-neglected components like scrap, freight, damages, theft and obsolescence. Once you do, you need to figure out what your cost of goods sold (COGS) number must be for you to make money. Keep in mind that your selling price is not your average selling price -- you have to factor in discounts, which will increase your COGS number.
NEXT: Naive hiring
NEXT: Naive hiring
LAST UPDATE: Jun 02 2009 | 3:58 PM ET
| Sponsored by |
More Galleries
High stress and long hours led these entrepreneurs to pack on the weight. More
The most dramatic changes mandated by the Affordable Care Act, aka "Obamacare," kick in by 2014. These companies are poised for big growth as they work with hospitals, insurance providers and others scrambling to hit deadlines. More
Forget employees. These businesses rely entirely on freelancers. That means no taxes, unemployment insurance or labor regulation. More
Sponsors
