The GaryVee Audio Experience Tips for Business Owners on Raising Prices, How to Set Expectations and The Biggest Mistake in Business
Oct 19, 2022
Discover how to effectively raise prices while maintaining client trust. Learn the importance of clear communication and setting realistic expectations with clients. Delve into the transition from fear to optimism in negotiations. Explore the pivotal role of an online presence in attracting new clients, particularly on platforms like TikTok and LinkedIn. Lastly, gain insight into common mistakes new business owners make, emphasizing reinvestment for sustainable growth instead of personal indulgence.
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Strategic Price Increases
- Selectively raise prices for some clients to test the waters.
- Give clients ample notice to adjust or find alternatives.
Negotiation Tactics
- Clients might negotiate prices, even if willing to pay more.
- Going on the offensive with pricing can reveal their true willingness to pay.
Offensive Pricing
- Don't fear losing a few clients when raising prices.
- Focus on the potential upside and continue generating new leads.