How do you know when you should raise your prices? It is the beginning of the year, and that is the subject on today's podcast as hosts Jason Everett and Doug Campbell discuss the best way to do it and the things you need to know before raising prices to help your business be more profitable.
Takeaways:
02:51 - There's no reason to broadcast that you are raising your prices
04:34 - Make sure that your staff knows what to say
05:20 - Know the Law of Supply and Demand
07:19 - Know how to calculate prices
13:09 - Know the triggers and when to raise prices
18:43 - Increase price means to increase value
21:55 - Get the right abundant mindset
24:55 - Train your staff to Level Up
Quotes:
“The profit is the reward for the risk that you took to go into business” Doug Campbell (06:39)
“You gotta make sure that you're taking care of your business for your business to survive and thrive” Doug Campbell (08:18)
“If you always deliver at a higher level than what you're charging. Then you're never overpriced. Doug Campbell (18:35)
“You can increase your price when you figure out how to add more value” Jason Everett: (19:17)
“Think about the client experience because that's the thing about people will exchange their money for, an experience all day long” Doug Campbell (24:37)
Links Mentioned:
Evorevopodcast.com
High-Performance Salon Website
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