“Buy-Low/Sell-High,” is a concept that has been around forever, where business owners are looking to buy products for a low price, and sell for higher prices. If you’re an owner, looking to gain mastery over your Buy-Low/Sell-High strategy, consider the following:Stop focusing on political correctness with your vendors: Trying to be everyone’s friend is going to kill your profits and destroy your business. Trying to be everyone’s friend is going to kill your profits and destroy your business. Maximize margins: It’s alarming that over two-thirds of the clients we work with do not raise their prices every year, and lack any sort of pricing strategy. In my experience, buy-low/sell-high is like basic Business 101 and it works.

Source: Forbes April 11, 2017 20:48 UTC