Your Prices are Too Low!

No really, they are too low.   

Most small business owners think they need the lowest price possible to compete.  In fact, quite the opposite can be true.  People will pay for things they want.  People will even pay for things they don't really use that much, because they perceive the value.

If you don't believe me, consider how much you pay for:

• Cable/Satellite Services
• Gym memberships
• New cars
• Upgraded cell phones

And your products and services are probably much more valuable to your customers, than those items we mentioned, are to you.  If you are very good at what you do, you should not be worried about charging for the appropriate price.

So, if you haven't had a price raise in the last year, it is probably time do so. 

This will do two things.

1. It may get rid of the bottom 2% of customers that take up 20% of your time.  
2. It will also raise your revenue by 5%-10%!

One quick tip to consider:  Do not just blindly raise prices on all customers, without notice.  Raise the prices in stages, carefully select which customers to begin with, and give them a written notice that you are raising your prices and why you are doing so.