http://www.claritytobusiness.com/dare-to-consider-thinking-about-maybe-possibly-raising-your-prices/ Discover what you love. Build your business. Prosper. Fri, 21 May 2010 12:32:53 -0600 http://wordpress.org/?v=2.8.6 hourly 1 http://www.claritytobusiness.com/dare-to-consider-thinking-about-maybe-possibly-raising-your-prices/comment-page-1/#comment-103 Dave Miller Sun, 20 Dec 2009 16:36:10 +0000 http://www.claritytobusiness.com/?p=444#comment-103 Your observations relative to price are right on. The fastest way to impact profitability is to raise price. Every dollar of price increase goes right to the bottom line. As you say raising prices is always difficult particularly for existing repeat clients. The focus on price should be from the customer’s point of view and should be based on value. How much is your product or service worth to your client? It is from that perspective that you should set price. Early in my career someone gave me the sage advice that “price is set in the market as a function of what customers are willing to pay it bears no relationship to cost the only thing that costs tell you is if you want to be I that business”. Your observations relative to price are right on. The fastest way to impact profitability is to raise price. Every dollar of price increase goes right to the bottom line. As you say raising prices is always difficult particularly for existing repeat clients. The focus on price should be from the customer’s point of view and should be based on value. How much is your product or service worth to your client? It is from that perspective that you should set price. Early in my career someone gave me the sage advice that “price is set in the market as a function of what customers are willing to pay it bears no relationship to cost the only thing that costs tell you is if you want to be I that business”.

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