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The $100 MBA Show

MBA1262 Is it OK to Lower Your Prices? + Free Ride Friday!

The $100 MBA Show

Omar Zenhom

Marketing, Entrepreneurship, Careers, Business

4.91.2K Ratings

🗓️ 10 May 2019

⏱️ 13 minutes

🧾️ Download transcript

Summary

Every business owner would love to get more money for each unit they sell. Raising your prices is understood to be a natural part of growth as the years go by. But what about lowering them? Is it ever appropriate?

Transcript

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0:00.0

Hey today is free ride Friday so make sure you hang on to the end of the episode to hear who won this week's free ride.

0:06.0

Every Friday we give away a lifetime membership to one of our programs.

0:09.0

This month we're giving away easy course, our 30 day course on how to build your own online course.

0:15.0

It retails for $500 over at easy course dot co but you can win it for free.

0:19.5

All you got to do is leave us in iTunes rating and review and you enter our weekly random draw.

0:24.0

It's that simple. Just listen on on Friday to see if you won. And when you enter the draw by leaving

0:28.7

us a review, you automatically enter for every week until you win. It's our way to say

0:33.7

thanks for showing us love on iTunes. All right let's jump into today's episode. Heyo! Welcome to the 100 R. M. A show pumping good business in your ears every day with her daily 10 minute business

0:55.0

lessons for the real world. I'm your host, your coach, your teacher, Omar Zen Home. I'm also the

1:00.8

co-founder of the $100 MBA, a complete business training and community online.

1:05.7

And in today's lesson you will learn, is it okay to lower your prices?

1:09.8

Price is a very, very touchy subject.

1:11.8

A lot of people have questions about this and a lot

1:14.1

of people are sensitive to the fact that sometimes they want to lower their

1:17.4

prices and maybe they feel like they price their product too high the trend seems

1:21.2

that prices always go up but what what about lowering them? Is that ever an option? Is it ever okay? Well, that's what we talk about in today's episode. In fact, today I'm going to give you some examples of some companies that actually started with some really high prices and then offered some lower price options later on.

1:38.0

There's a reason why businesses will do this and I'll share why.

1:42.0

I'll also share when lowering your prices is not okay.

1:45.0

We got a lot to cover in today's episode so let's get into it. Let's get down to business.

1:50.0

Today's episode of the 100-O-M-B-A show is supported by W.P. Engine, the best

1:59.4

WordPress website solution. How do we know? Because the Hunter Alba runs on W.P. Engine. We love

2:05.2

their reliability, their speed, their security, and their unbelievable

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