Brutal Truth About Your Prices & Profits

Rob Moore shares the brutal truth about your prices and profits and shows you, exactly how to expand your wealth, knowledge and profit margins with some simple but effective changes to your business.

In today’s inspiring episode, Rob challenges you to increase your pricing and attract wealthier clients, and a more affluent audience. If you want to disrupt the marketplace and instantly increase your profits by 20% or more, this episode is for you!

KEY TAKEAWAYS

 

• Generally, people have objectives and belief restrictions around increasing their pricing and making a profit. What most people do is, follow their competitor's pricing model and charge cheaper amounts because that’s all they think their product or service is worth. Well with your business and your pricing you control who you attract to your business and you control the amount of money you can make.

 

• You are allowed to make a profit. It is your obligation as a business to make a profit and to be profitable you must, therefore, create products and services for customers to consume.
  
  
• Don't always follow your competitors, find your audience and tap into the whole market. Get clear on your target market before anything else and always consider scale and the affluence of the avatar you're targeting.
  
  
• By putting your prices up 20% you can double your margins, you will start to notice that the world will bring more affluent clients. Incrementally increase your prices and use the price escalation model, as you increase your prices your ideal clients appear.

BEST MOMENTS

“Don't follow your competitors and their pricing model, when pricing your products and services, consider the whole market, the service you provide and the type of customer you want to attract”

“When you start you might make 20% as you get more experienced your margins might improve to 50%”

“If you're not targeting a certain client then you'll attract the cheapest ones. Don't attract the customers that want a tenner but are only prepared to pay a fiver”

“Start nudging your prices up incrementally, 20% incrementally”

VALUABLE RESOURCES

#284 Interview with Martin Frei, Co-founder of High-End Watch Brand Urwerk

ABOUT THE HOST

Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage.

“If you don't risk anything, you risk everything”

CONTACT METHOD

Facebook - https://www.facebook.com/robmooreprogressive/?ref=br_rs

LinkedIn - https://uk.linkedin.com/in/robmoore1979