Taking it back to its simplest form, the purpose of a business is to make profit. And if you want to make profit then one of the simplest strategies is to increase your prices. Shock horror!
The thing is, many business owners I speak to are not charging what their products and services are really worth. Some are not charging what they cost because they don't understand their numbers well enough. And even more are charging less than their competitors yet doing a better job that them or having a superior product.
Increasing your prices is the simplest way to boost your revenue and profit. Before you say you couldn't possibly increase your prices, do these three things:
1. Look at how much your competitors charge
2. Make an honest assessment of where you sit in the market in terms of quality
3. Assess by how much your costs have increased since you last raised your prices. Can you pass some of these additional costs on to your customers?
When asked if he would recommend working with Gil Devlin, he said, “With140% growth in the first 12 months its a no brainer from my perspective as its one of the fundamental reasons to work with a business coach. I think if people are willing to commit the time and go in with an open mind, they will be shocked at the positive results that they will get.”
On 26 April and 24 May 2016, in North London, we’re running a couple of workshops where we'll be looking at the key strategies to grow your business profitably. If you’d like to join us for just £19 instead of the usual £95, please use this link.