EPISODE 034. Let's Talk Price Increases

First of all, let me just say that I hate this topic.

I hate talking about money. We all kind of do, right?

But it's one of the reasons we own businesses. To make money. Yes?

So, today, Laura and I are talking about money and, more specifically, the importance of raising your rates.

If you're new in business, you need to listen to this episode. If you've been in a business a while, you also need to listen! Because as business owners, we need to do that suuuuper uncomfy thing and raise our prices.

It doesn't even matter what industry you're in. The costs of operating a business - taxes, employee wages, insurance, supplies & etc - go up every year. Inflation is very real and we need to make sure we're keeping up with our profit margins in order to succeed in business.

My stomach is always in knots when sending out price increases, but I have to always remember that my ideal customer will pay my price. The same goes for you! And so we are sharing our experience with adjusting and raising our rates over the span of a few years, different reactions that can be expected, and why those price adjustments are so important. 

If you're in need of raising your prices, I just want to say that YOU GOT THIS! 

Today's Monday Morning Motivation:

The first step to getting what you want is having the courage to get rid of what you don't.

You can listen to today's episode on Apple Podcasts, Spotify or wherever you stream your podcasts. Enjoy!