100% Are Affected By Cost Increases; 63% Did Not Raise Their Selling Price
A recent survey published in USA Today revealed the majority of companies surveyed did not raise selling prices even though their cost doing business increased as a result of higher oil and labor costs. Most people reading this article condemn the companies who were able to increase their prices.
Businesses formed to make a profit and deliver a return on investment to those who take the risks of venturing a business start up or purchase. If costs are rising and your profits are shrinking then mark you calendar as to the day you will be out of business.
Success Tip: Develop close customer relationships by over delivering to your customer. Most will continue to be loyal when you raise prices. Those who are not are probably ones you should have fired long ago. Even if you are able to raise prices developing a lean and efficient business will help you maintain an competitive advantage. Note: few companies ever maintain the discipline to sustain a competitive advantage as a result of efficiency. “Increase Profits by 30 % or More in 90 Days or Less” free at www.stevepohlit.com is the basic roadmap for how to maximize profits and it works in times of rising costs like we are experiencing now. It is FREE mini- course.
Steve Pohlit, Business Consultant
“Helping Companies Make Extraordinary Profits Now!”
www.stevereports.com
www.stevepohlit.com
