Caffeine Cast: When Should You Raise Your Prices [Business, mindset, entrepreneur, disruptors]

Disruptors

Rob Moore

Careers, How To, Business, Self-improvement, Society & Culture, Marketing, Investing, Education, Entrepreneurship

4.8 • 1.4K Ratings

🗓️ 24 June 2016

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s Caffeine Cast Rob explains why you need to raise your prices right now and talks about different ways to do that. A lot of entrepreneurs are afraid of raising their prices. However, higher prices mean an increase in your income, more space for new customers, increase in value, freedom and liberation of time and space. [Business, mindset, entrepreneur, disruptors] VALUABLE RESOURCES https://robmoore.com/ bit.ly/Robsupporter https://robmoore.com/podbooks rob.team ABOUT THE HOST Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “Disruptors” “If you don't risk anything, you risk everything” CONTACT METHOD Rob’s official website: https://robmoore.com/ Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979 disruptive, disruptors, entreprenuer, business, social media, marketing, money, growth, scale, scale up, risk, property: http://www.robmoore.com

Transcript

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0:00.0	Welcome to the Disruptive Entrepreneur Podcast.
0:05.0	For anyone who wants to make money and make a difference,
0:08.0	grow and leverage your enterprise better, get more done in less time,
0:12.0	outsource everything and create your ideal lifestyle.
0:15.0	And now, your host, 8 times best-selling author and double world record holder, Rob Moore.
0:28.0	Welcome to the Disruptive Entrepreneur Podcast This is Rob Moore here with a caffeine cast,
0:31.0	a short sharp shot in the arm of motivation and inspiration.
0:34.4	When should you raise your prices? Well the answer is now. End of podcast. Thanks for
0:39.3	tuning in. Now there are many reasons why you should increase your prices now and there are probably three main reasons why you probably haven't or you'd resist it.
0:50.0	So the huge benefits of raising your prices are lower volume of sales and lower
0:57.6	effort for a same or increased turnover or profit margin. An increased
1:03.2	turnover and significantly increased profit margin.
1:06.7	You can free up space for newer better customers who may pay more and be less management intensive therefore
1:16.4	reducing your overhead there are so many benefits and I'm going to list them all
1:20.1	later and give you some strategies in fact I'm going to give you three strategies on how you can actually increase your price.
1:25.4	But those three reasons why you probably aren't, why nearly every entrepreneur I've ever met or mentored doesn't or hasn't yet is number one the fear of a loyal or an existing
1:37.1	customer leaving or not renewing and take property for example when you've had a
1:42.3	tenant in for a few years you could be worried to put up the rent even if it's just by 25 pounds a month, which might only be 5 or 3 percent because you're worried about them leaving when the reality is it might cost him 2.5,000
1:55.0	000 pound to move with the removal van and all the the faff of changing over all the
2:00.5	utilities yet you're worried you put the rent up 3% and they'll leave the
2:04.4	realities they probably won't the second thing is the fear of not getting new
2:08.3	customers so you feel that the price goes up and these customers that are looking into you may not buy anymore or new customers might think that you're too expensive
	...

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