Break the Undercharging Cycle: Increase Prices and Add Value for Business Success"

15 Apr 2023 · 1 min

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Robin Waite says most businesses undercharge and can raise prices by fixing that undervaluation. But pair any big increase with low-cost additions that boost perceived value, so clients feel they're getting more for their money.

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The reality is that most businesses are, like, undercharging, they're underselling themselves anyway. So, you can actually, there's room to be able to put your prices up just by virtue of the fact you're underselling. I'm not a big fan of, like, doubling your prices, not adding any extra value. So, I think it's important to say, you know, if you are gonna do a, you know, drastic sort of price increase, yeah, try and find creative ways to add more value. But think about it as, like, where you can find areas of higher perceived value. Yes. So, it doesn't cost you much to deliver that extra value, but the client sees it as, wow, I'm getting this, You know, for free on top of everything else.