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Will You Add? - Just Raise Your Prices
Logistics assets that have a circular flow are an essential part of the distribution network of any business. These assets are often reusable such as totes, racks, bins and roll cages, shipping containers, gas containers et
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“That’s a Moray, Alex’s notes from the sea,” is the name of my cousins’ kid’s, blog.Alexander works for the Woods Hole Oceanographic Institution. “It’s the job of my dreams,” he told me. A position he took after in
Just Raise Your Prices
Raising your prices is the fastest way to get more profits in your business. When it comes to raising our prices, fear sets in. Before you say, “I can’t do this”, look at the three things that can happen when you raise your prices.
One, you experience no loss or gain in customers. Because you are now charging higher prices, you make more money for the same amount of work.
Two, you experience an actual gain in customers. Customers perceive the value of your product based on the price you charge. Lower prices attract a less desirable clientele for your services - price shoppers. A premium rate attracts clients who value good work and don't mind paying for it.
The story is told about the jewelry store owner who left instructions with his clerk to reduce prices by 25% so they could sell the merchandise. The clerk misread the instructions and added 25% to the prices. Every item sold. The customers perceived the jewelry to be a higher value.
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Imagine the following scenario; Ten years ago you decided to quit your job and start your own company. For ten years you worked hard, made sacrifices, and it paid off in the end. One of your first employees, a loyal
Just Raise Your Prices
Raising your prices is the fastest way to get more profits in your business. When it comes to raising our prices, fear sets in. Before you say, “I can’t do this”, look at the three things that can happen when you raise your prices.
One, you experience no loss or gain in customers. Because you are now charging higher prices, you make more money for the same amount of work.
Two, you experience an actual gain in customers. Customers perceive the value of your product based on the price you charge. Lower prices attract a less desirable clientele for your services - price shoppers. A premium rate attracts clients who value good work and don't mind paying for it.
The story is told about the jewelry store owner who left instructions with his clerk to reduce prices by 25% so they could sell the merchandise. The clerk misread the instructions and added 25% to the prices. Every item sold. The customers perceived the jewelry to be a higher value.
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Culture is the lifeblood of an organization. It's the sum total of the history, people, and procedures that define the organization and its work. PJ Bouchard and Lizz Pellet, in their book, "Getting Your Shift Together -
One, you experience no loss or gain in customers. Because you are now charging higher prices, you make more money for the same amount of work.
Two, you experience an actual gain in customers. Customers perceive the value of your product based on the price you charge. Lower prices attract a less desirable clientele for your services - price shoppers. A premium rate attracts clients who value good work and don't mind paying for it.
The story is told about the jewelry store owner who left instructions with his clerk to reduce prices by 25% so they could sell the merchandise. The clerk misread the instructions and added 25% to the prices. Every item sold. The customers perceived the jewelry to be a higher value.
Th
Last winter I took a trip to New York City. It was absolutely freezing (remember, I’m from Phoenix where a 120F day is not uncommon) but I’m ready to go again (warmer months, please).There were some great sites to be
The story is told about the jewelry store owner who left instructions with his clerk to reduce prices by 25% so they could sell the merchandise. The clerk misread the instructions and added 25% to the prices. Every item sold. The customers perceived the jewelry to be a higher value.
Th
Managing temperature control effectively will save you quite a bit of money. There is no doubt that you can save money through the use of devices that will help you to regulate the temperature in any building or room. In
Third, you raise your prices and you lose customers—your biggest fear. Studies show in most industries, with a ten percent increase in prices, you would have to lose 40% of your customers before you suffer an actual loss in profits.
You need to do your own numbers, but it’s highly unlikely you would lose lots of customers with a 10% increase. If your 10% increase brings with it a 10% decrease in customers, you are still way ahead in profits.
There are no downsides to just raising prices!
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