Omar Zenhom learned from ProfitWell founder Patrick Campbell that most companies underprice their offerings. Raising prices, even if it costs you customers, consistently increases total revenue. The real barrier is psychological fear, not what the market will actually bear.
Here's what I've learned after 20 years of building businesses. Almost never do you need more customers to make more cash flow. When I was in the middle of building and growing our software company, Webinar Ninja, I brought on a man named Patrick Campbell. He's the founder of ProfitWell, who later sold his company for $200 million, and he is the pricing expert on the internet. What he showed me was that most businesses are significantly underpricing relative to the value they deliver. Your prices are often way lower than the value you're giving your customers. I'm not talking about slightly underpriced, significantly, which means you have a lot of room to raise your prices. I've tested this over a dozen times and I never make less money when I raise prices. Every single time I raise prices, I might get less customers, but the total revenue I make is always more. And the reason why people don't raise their prices is really just psychological. And that's not how you price. You need to price based on what the market is willing to pay. Otherwise, you're leaving a ton of money on the table.
