Short talk by Mike Andes arguing that raising prices solves many business problems: increase prices (e.g., by 10% until ~10% of customers leave) to attract higher-quality customers, improve employee hiring, and rely on service stickiness because customers prefer dependable, premium solutions over shopping for cheaper alternatives.
I can't believe more people don't change their prices. 90% of business problems would disappear if you just raise your price and charge what you're worth, get higher quality customers and hire better employees. Raise prices by 10% until you lose at least 10% of your customers. Our services are far more sticky than you think to the customer because once you've proven your dependability to the customer, our services are much more sticky than you might think and customers are less price sensitive than than we think. The ideal customer doesn't want the hassle of having to try to get another five estimates to get a replacement for your service. They would rather pay a premium price for a premium product.
