The Anguilla Chamber of Commerce and Industry (ACOCI) organised and hosted another timely and relevant workshop for its members. The workshop entitled “Getting under the numbers and Pricing Strategy’ workshop” was held on April 24th and 25th (9am-12pm daily) at the ACOCI Conference Room. The workshop was enthusiastically facilitated by Ms. Sabra Richardson of Simply Budgeting Inc. Participants who represented a range of businesses were actively engaged in discussions, presentations and group work throughout the workshop.
The workshop’s goal was to help businesses take their profits to another level through pricing. It covered a range of topics including the present approach to pricing, criteria for pricing goods and services, review of fiscal and operational information referenced pricing, pricing post Irma, collaboration with another business providing synergy for both companies, expenses as it pertains to pricing, turnover sales of products/services, back up strategy for unsold items and industry targets.
Sabra’s energy and passion for the subject matter was immediately apparent and participants were fully engaged. Participants were encouraged to not only absorb the information but also to immediately apply it to their business. Participants answered questions which related to target audience, key spending areas, goals and areas of improvement. All workshop attendees appreciated the holistic and detailed approach developed by the facilitator. Many were astounded at the level of detail and analysis required to adequately price a product or service.
Sabra was delighted with the outcome of the workshop. She shared, “The workshop went well. We did pricing strategy. I know a lot of the participants were wondering when we were going to get to the pricing but we looked at the elements that lead to your pricing then the use of the system or process in order to get to your pricing. The wonderful thing about it all was getting some of the businesses in Anguilla to come under one umbrella and talk about sharing information and keeping our money in a circle. They discussed how their business could help another business and more. We tried to create an element whereby folks really sat down and talked to each other and did not keep their business a secret, like secret agents.” Sabra concluded, “That’s my mission. Let’s talk, let’s share, let’s grow and let’s develop, because we are a strong Anguilla.”
The participants were equally happy with the knowledge acquired and the experiences shared at the workshop. One participant exclaimed, “I love this class. So many people are connecting.”
Mr. Connor who works at Andy’s Auto Rentals shared, “The workshop was very informative and educational. At first I was not sure how to feel but by the end of it all I understood that pricing is something that is very beneficial and has the opportunity to reshape businesses in Anguilla once we take what we learn and integrate it into our businesses. We will be able to expect great results. I also enjoyed the networking aspect of the workshop.”
At the conclusion of the workshop, Mrs. Karen Pina from the Chamber of Commerce thanked Ms. Richardson for facilitating a workshop which “never had a dull moment.” Karen also thanked the participants for attending and encouraged them to constantly go through their notes to remind themselves of the importance of pricing. The participants were also encouraged to tell others about the course and to participate in future ACOCI events. This pricing workshop will be offered again in the near future.
The Anguilla Chamber of Commerce and Industry offers innovative and relevant business and social opportunities for its members and the general public.
ACOCI would also like to invite everyone to attend their upcoming event Starry Night Dinner and Dance which will be held at Italia Restaurant at Cuisinart’s Club House on June 2nd, 2018. Proceeds of this event are for the on-going ACOCI Scholarship Fund. The event starts at 6:30pm with a Red Carpet Welcome sponsored by IWAS and the dinner starts at 7pm. Entertainment will be by Boss and the Horse Power Band and DJ Sparta. The cost is US$65 per person and guests have the opportunity to win wonderful door prizes. Tickets can be purchased at the ACOCI Office or Tackle Box.
ACOCI thanks all members who participated in events so far in 2018 and looks forward to your continued support.
By Shellecia Brooks-Johnson
