Short transcript excerpt from a YouTube video in which the speaker addresses small "mom and pop" business owners who hesitate to raise prices. The speaker recommends testing incremental price increases to identify customer drop-off and emphasizes selling value rather than competing on price.
Small mom and pop business owners, they very rarely change price points. If anything, they go downwards, not upwards. So when's the last time you charge one? Charge 400 square, charge 425 a square, charge 450 square five. Like see where the drop off is? You know, the average business owners really do that. Mom and pop shops don't, because they're afraid to lose business, they're afraid to lose their reputation, they're afraid, like, they're afraid of all the possible negative things. But it's like, it's not about selling the price, it's about selling the value.
