19 min
#99: How to increase your profits with this one strategy tweak The Founder Podcast
-
- Entrepreneurship
Welcome to a new episode of The Founder Podcast. In today’s episode, we discuss the strategy behind pricing your offerings. We take a deep dive into why positioning yourself as a premium option can enhance your brand's perceived value and boost your bottom line. We explore strategic pricing insights, debunk the myths around being the cheapest, and share actionable tips to help you price confidently.
Highlights:
"Every dollar more that you charge is a step closer to not just profitability but sustainability and quality in your business."
"Being the cheapest means cutting corners, but charging more allows you to invest back into your products and services, enhancing overall customer satisfaction."
"Price your product not just for the market, but for the quality, longevity, and experience it offers. That's the true value."
Timestamps:
00:00 - The Pitfalls of Underpricing
00:43 - Setting the Stage in Pricing
05:00 - The Luxury Margin
06:17 - Comparative Economics: Louie Vuitton vs. Marshalls
08:20 - Small Price Increase, Big Impact
09:10 -The Real Cost of Pricing Too Low
10:00 - How a 10% Price Increase Translates to 33% More Profit
12:45 - Educating Customers on Value
15:00 - Avoiding Apple-to-Apple Comparisons
16:55 - Are You Undercharging?
Looking to scale your business? Want to learn directly from the same team that helped me sell my last business for 9 figures? Click this link below to check out how you can work with us. https://nextlevelhomepros.com/grow-home-service-vsl
Join my community - Founder Acceleration https://www.founderacceleration.com
Apply for our next Mastermind:https://www.thefoundermastermind.comGolf with Chris https://www.golfwithchris.com
Watch my latest PodcastApple- https://podcasts.apple.com/us/podcast/the-founder-podcast/id1687030281SSpotify- https://open.spotify.com/show/1e0cL2vI1JAtQrojSOA7D2YouTube - @thefounderspodcast
Welcome to a new episode of The Founder Podcast. In today’s episode, we discuss the strategy behind pricing your offerings. We take a deep dive into why positioning yourself as a premium option can enhance your brand's perceived value and boost your bottom line. We explore strategic pricing insights, debunk the myths around being the cheapest, and share actionable tips to help you price confidently.
Highlights:
"Every dollar more that you charge is a step closer to not just profitability but sustainability and quality in your business."
"Being the cheapest means cutting corners, but charging more allows you to invest back into your products and services, enhancing overall customer satisfaction."
"Price your product not just for the market, but for the quality, longevity, and experience it offers. That's the true value."
Timestamps:
00:00 - The Pitfalls of Underpricing
00:43 - Setting the Stage in Pricing
05:00 - The Luxury Margin
06:17 - Comparative Economics: Louie Vuitton vs. Marshalls
08:20 - Small Price Increase, Big Impact
09:10 -The Real Cost of Pricing Too Low
10:00 - How a 10% Price Increase Translates to 33% More Profit
12:45 - Educating Customers on Value
15:00 - Avoiding Apple-to-Apple Comparisons
16:55 - Are You Undercharging?
Looking to scale your business? Want to learn directly from the same team that helped me sell my last business for 9 figures? Click this link below to check out how you can work with us. https://nextlevelhomepros.com/grow-home-service-vsl
Join my community - Founder Acceleration https://www.founderacceleration.com
Apply for our next Mastermind:https://www.thefoundermastermind.comGolf with Chris https://www.golfwithchris.com
Watch my latest PodcastApple- https://podcasts.apple.com/us/podcast/the-founder-podcast/id1687030281SSpotify- https://open.spotify.com/show/1e0cL2vI1JAtQrojSOA7D2YouTube - @thefounderspodcast
19 min