Happy New Year! 🎆
Start 2026 by raising your prices.
Raising prices is the fastest way to increase your profits.
Yet many business owners hate to raise prices.
• Customers obviously don't want it.
• Salespeople don't like it when their job gets harder.
• Customer service don't like to deal with complaints.
• Why ruffle feathers ("If it ain't broke, don't fix it").
• People like to deliver high value, not high prices.
• Owners misdiagnose the leverage they have over customers versus the value they deliver.
But more profits bring more safety/cushion, growth capital, upside potential, opportunity, bonuses/commissions, can signal a strong brand, and much more.
Just like b-schools underteach sales, businesses don't give sufficient attention to pricing.
Increased revenue from price increases drops directly to your bottom line. And if you lose volume, you're doing less work for the same revenue and higher profits, and in any case you're only losing the most price-sensitive customers.
Raising prices is a reversible decision, so worst case you can always retract.
Happy New Year! 🎆
