Raise Business Profits with Better Pricing
Episode description
Raise profits (or even maintain)...that's an important part of growing your business.
To do that you've got to understand the things that influence your profits and know how best to leverage them. Your goal isn't to raise profits just because you can. It's to do so in order to continue to be there for your customers. To build your business, shift and evolve and for some of you it's about leaving behind that your legacy.
- How many profit levers does a business have?
- Do you know what they are?
- Are you fully leveraging them?
Most businesses are not fully leveraging pricing. Most often because they're so focused on the other levers. But here's the kicker, price is the most impactful profit lever. Meaning if you want to raise profits, price is often the MOST EFFECTIVE way to do it. Or in the converse it could be the thing that's draining your profits and sabotaging your efforts in other areas.
In this episode I share more about the profit levers and take a look at the things that influence profits and how that relates to what your doing with pricing.
Link to McKinsey Study: https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-power-of-pricing
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Reach Out, Connect, or Book a Call with Janene
Get started improving your business. Sometimes it’s difficult to know where to begin. I suggest you Download the self-assessment Pricing Scorecard (https://thepricinglady.com/pricing-self-assessment-scorecard/). Get a view of what’s working and what’s not working when it comes to pricing in your business. Figure out where to start making improvements.
Get in touch with Janene. If you’ve got a question that needs answering, a challenge you’re facing or you have suggestions for future topics or guests, let me know. Contact Janene (https://thepricinglady.com/book-a-call/)