Little Better: The Five Minute Pricing Hack Your Business Needs

Today on the Better Business Podcast, I’m bringing you a quick pricing hack for your products!

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I’m so excited to share this five minute pricing tip with you! It comes from my years of experience working with small businesses selling online.

This profit-generating tip is great for online retailers who want to make sure their products are profitable, but don’t have time to do a deep dive or a full pricing review.

Here’s my top tip for pricing your products quickly:

Put your prices up by 20%.

About 80% of new clients need to put their prices up by 20% in order to be profitable and run a sustainable business.

Chances are you haven’t accounted for inflation or rising material costs, so you at least need to put your prices up by 4% (the current inflation rate in the UK).

The longer it is since you last raised your prices, the more you need to raise them.

Don’t put off having a profitable, sustainable business!

And of course, if you’d like a full product pricing calculator template, you can find mine inside Pricing For Profit (And Sanity).

Did you do this pricing hack? Let me know over on Instagram.

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