How Americans Get Rich - Action Principles

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Raise Your Prices

    Being an entrepreneur, you can't be shy. If you want more, you've got to ask for it. Raise your prices. Raise your prices and be seen as a premium brand in your industry.

   Bargain hunters will balk at the price increases but bargain hunters are probably not your target audience. If the bargain hunters are also cheapskates, they will grumble about everything and, in most cases, produce the lowest profit margins. Let them go. You want to deal with the consumers who insist on dealing with the best.

   Raise your prices, give yourself a raise and then prove that you're worth it. Follow the advice of the luxury goods maker, Gucci, “Quality is remembered long after price is forgotten.”

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