The Power of Price: How Raising Prices Can Increase Profit

When something becomes more expensive, people perceive its value in a higher way. Today, Alex (@AlexHormozi) talks about the steps he did in order to make over $5 Million in 8 weeks, why doubling your price is the best option to choose, and explains these steps using a hypothetical scenario at the end of the episode.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(2:04) - Business growth wish: Double customers, double price, or extend retention?

(3:37) - Best profit strategy: Double the price; Alex's successful example.

(6:19) - Increase pricing by 50%, maintain product, boost sales.

(7:52) - Pricing tied to emotions; fear of breaking established prices.

(9:38) - Three steps to double profits: Pricing Survey, internal communication, customer communication.

(21:21) - Alex's hypothetical business: Walkthrough of doubling the price.

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