PRICING SENSIBLY AS A TOOL FOR COMPANY EXPANSION Somewhere back in time I read about a group of people called Patel who are from India, specifically the state of Gujarat. They were the ones who owned 60% of all the economy motels in the United States of America. I find it so fascinating that a group of people can be so successful at owning such a large percentage of motels. As I began to think more and more about how this Patel group of people had become so successful I found that the key to their success was in pricing, having easy access to soft credit, their innovation and their willingness to help one another grow. With those key points I had enough information to learn about how they had succeeded at becoming such a big part of the motel business. In today's business pricing is one of the most That is how we expand our business to the next level. The most common way is to cut the cost of production or the cost of the service, of course as needed. To elaborate, we can cut cost on rental or energy bill, logistic and production material by buying in bulk or directly to the manufacturer (if any policy allow us to do that). Second, there are several methods to access funding, its clearly state in my book unique ways on how to improve your finance, we can use crowd funding, peer to peer funding from some firms or refinancing to get more capital to expand your business. Third, we can set a smart goal to achieve our goals, either as an individual or as a cooperate firm. To conclude, getting major success in our life, we need determination and be willing never to quit. Importantly does your business price itself above the market price? How often do you do market research to see how your product or service compares to other businesses that offer the same type of service? One of the Patel's methods to out price their competitors was low pricing. The reason for the low pricing was that the motels that were run by Patel were family owned and the people that worked at these motels were family members, so the labor cost was cheap. With the labor cost being low, the Patel's were able to price their motels lower than the market price but they were still making enough money to purchase the next motel and the next motel and the next motel, even though we live in a different time era you can still accomplish that with the appropriate strategy https://tinyurl.com/ywzs6vmt #🌞 Good Morning🌞 #📈स्टॉक मार्केट टिप्स📊 #📰GK & करेंट अफेयर्स Students💡 #🧮 सरल गणित / Reasoning #👩‍🌾खान सर मोटिवेशन💡