July 23, 2022

Cost Increases

When your costs go up, should you raise your prices?

Well.. maybe, but not because your costs went up.

You should be looking for ways to raise your prices all the time regardless of what is happening with your costs.

(Of course, to raise your prices and still close deals, you also have to increase the value you provide to the client. But that’s a story for another day...)

Here’s the thing...

Setting your prices based on cost is completely backwards.

Better to set your prices based on value.