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Do you charge your customers monthly?
You should double your prices.
Yes, seriously.
Here's why
You should double your prices.
Yes, seriously.
Here's why
I know what you are thinking...
"I will lose customers"
"People will be mad at me"
"Won't less people sign up?"
Yes, all of those will happen.
But your goal isn't to have the most customers...your goal is to build a sustainable, profitable business.
"I will lose customers"
"People will be mad at me"
"Won't less people sign up?"
Yes, all of those will happen.
But your goal isn't to have the most customers...your goal is to build a sustainable, profitable business.
There are three ways to increase grow your business:
#1: Grow your number of customers
#2: Improve your existing customer lifetime value
#3: Cut your overhead & expenses
Too many people focus on #1...so they undercharge and *hopefully* overdeliver in order to gain customers.
#1: Grow your number of customers
#2: Improve your existing customer lifetime value
#3: Cut your overhead & expenses
Too many people focus on #1...so they undercharge and *hopefully* overdeliver in order to gain customers.
By only focusing on #1 you are setting up your business for failure as you scale.
You have to support more customers (expensive)
You have to spend more time/energy (burnout)
You don't have enough margin to support growth (stagnation)
Increasing your prices fixes all of these.
You have to support more customers (expensive)
You have to spend more time/energy (burnout)
You don't have enough margin to support growth (stagnation)
Increasing your prices fixes all of these.
Fewer Customers = Fewer HeadachesLess email contacts (expensive @Mailchimp)
Less support staff (costs money + time)
Less infrastructure costs (margin killer)
Less SAAS subscriptions (yikes)
Less angry emails at 2am (f*ck that)
Higher Prices = Better Value For Your CustomersSpend more time with each customer
Spend more time improving your product
Spend more time expanding your offer
Stop watering down your value to fit your low prices.
Charge what you are worth and DELIVER.
Fewer Customers + Higher Prices = More Time + More MoneyMore money for ad campaigns (get more leads)
More money for sales people (close more deals)
More time for improving your offer (deliver better value)
More time for creating new revenue streams (more $$$)
More Time + More Money = Faster GrowthMore money for ad campaigns (get more leads)
More money for sales people (close more deals)
More time for improving your offer (deliver better value)
More time for creating new revenue streams (more $$$)
And yes, the math makes sense.
Double your prices.
Lose 50% of your customers.
Earn the same money.
Spend 50% less time and money.
Invest that time and money into GROWTH
Double your prices.
Lose 50% of your customers.
Earn the same money.
Spend 50% less time and money.
Invest that time and money into GROWTH
