More Profit In One Move

While most small business owners immediately turn to sales and marketing, typically the lowest hanging fruit for profitability is going to be on your operations side.

If your audience knows you, loves you, and trusts you then you can probably raise your prices right now.

This is how you make your business more profitable without growing.

Raising prices is all about expectations and value. If the perceived value that the shopper is expecting from you meets or exceeds the price of the product or service, then they will consider purchasing it.

In the words of Warren Buffet–one of the most successful investors of all time– “Price is what you pay. Value is what you get.” ⁹

Amidst inflation and higher cost of fuel (not to mention building materials like steel and lumber), everyone has adjusted to prices to raise on everything. If you haven’t raised your prices in a while, your time to do that is right now.

When was the last time you raised prices?

Onward and upward,
Simon Trask