Raising prices improves profit and gives you room to add value, which leads to better client results and referrals. Before you market, fix your business model: optimize pricing, product sizing, and sales process. Many owners undercharge because of money mindsets from childhood.
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Just solidly focusing on marketing is not the solution. The one way that I've found to grow businesses the fastest is to raise your prices because you can literally see it in your profit and loss accounts 30 days later. If you can increase your prices, that then gives you this bandwidth to be able to stack more value into it, which ultimately then makes your product or service better. You make your clients stick around for longer because they're getting much, you know, far better results from the work which you're doing with them. which produces more money on the back end because they stick around for longer. They also— it makes you more referable because they're talking to all their friends about this great work which you're doing. So it's just like really holistic side of actually charging more. It's just that most small business owners' money mindset, their money story, and their attachment to like their own internal value system is basically fucked. They have this false story which they've grown up with, which their parents have told them, which is great as a child, but then as an adult, it doesn't necessarily serve them. So they look at it and go, oh, well, I wouldn't pay that much for this service. So therefore, who am I to charge more for this service? There's so many like components which go into like getting pricing right. But marketing is, in my view, it's like you should fix all of the business model first, product sizing, pricing, your customer journey, sales, all of those bits. Then you switch on the marketing tap. So once you've nailed your business model and you're making more money and profitability, Then go and get more clients.
