Mike Andes says raising prices is the fastest way to double profits. One email to your customer list announcing a price increase can do it in 24 hours, with zero extra cost. That beats buying new equipment, hiring, or advertising.
Nothing you do this year, nothing you do this year is going to double your profits as fast as raising your prices. It's the biggest lever you have in the business. I don't care if you get better trucks, better equipment, an all-star employee, you all of a sudden figure out the best customer acquisition model in the world. You run ads and just money is flowing in because all these leads are just— Nothing will double your profits like raising your prices by sending out one email or one text message to all of your customer database. You could literally double your profits in the next 24 hours by just making a decision. You don't have to buy trucks. You don't have to hire people. You don't have to run ads. You just have to send an email that says, "We're raising prices." That is high leverage. Low input, high output equals high leverage. And there is nothing you will do this year that will move your profit needle, move the margin as much as raising your prices.
