You Price Everyday ...
Are you getting it right?
Pricing your products and services correctly sets a solid foundation of success, get it wrong and you may create problems that your business may never be able to overcome.
“When it comes to the prices we pay, we study them, we map them, and we work on them. But with the prices we charge, we are too sloppy!”
Jeffrey Immelt, CEO of General Electric 2006
Having an effective pricing process built around the value you deliver is a fundamental driver to having a profitable business, but unfortunately most business owners neglect this key value and pricing process.
Having a clear pricing process is one of the most difficult tasks a business owner can undertake, and probably the least managed part of the business. Most business owners struggle with formulating the steps required in becoming knowledgeable about what they should charge in the marketplace, and how to manage their ongoing pricing.
Increasing the prices you charge is the key driver to increased profits. Every dollar increased with profitable pricing helps you build a better bottom-line.
Most studies show that a price increase of just 1% translates into a profit increase of more than 7%. In addition, increasing your prices has an immediate impact to profitability like no other lever in your business.
The focus of every business should be how we can charge more, not how can we charge less. Every business has the ability to charge higher prices.
RevSmart™ is designed with you the business owner in mind, providing you with a simple system that keeps you aligned and focused with one of the most difficult tasks you undertake; managing, monitoring and maximizing your value, pricing and profitability.