4 Tips for Raising Your Prices Without Losing Business
By the Small Business Administartion (SBA)
Every business has to raise its prices at some point. And if you provide genuine value, and the hikes aren't too steep, then your customers may not notice, or care too much.
But for many business owners, particularly in comptetitive industries, raising your prices can be tricky. If you are in the business-to-business (B2B) sector, and provide services to clients on a regular basis, it can be especially difficult, since you're probably going to need to be up front about your price changes and possibly renegotiate a new contract.
But market fluctuations, the cost of inventory, and so many other variables mean raising your prices is inevitable. So what's the best way to handle raising your prices, without losing your customers? Click here for helpful tips.