Raising Prices

Too many small businesses do not raise prices for fear of losing customers.  That is a mistake.  Inflation is real and what a product cost you five years ago is not what it costs today, if no other reason than inflation has made your dollar worth less.  Raise your prices and see what happens.  The worst thing is you lose some sales and must drop your prices again.  The best thing is extra revenue begins to come in the door.

Increasing your pricing in small percentages works well.  Most customers will not even notice, and it will help you cover any new expenses that you may acquire such as new equipment, inventory, additional personnel, etc.

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