Money Matters

Don’t Apologize for a Price Increase

It’s time to raise your prices. “Just do it,” says industry consultant and trainer Neil Ducoff, CEO and founder of Strategies.

Neil Ducoff
<p>Neil Ducoff</p>

Your business is growing. You’ve reviewed your systems and crunched the numbers. It’s time to raise your prices. “Just do it,” says industry consultant and trainer Neil Ducoff, CEO and founder of Strategies (www.strategies.com). “Some businesses agonize over how and when to increase prices. They want to give customers plenty of advanced notice. They want to hang signs announcing the price increase so the poor sign can be the bad guy and not them. You buy from companies and businesses that raise their prices all the time. They don’t beg for forgiveness or apologize — they just raise their prices.”

According to Ducoff, all it takes is a simple, “We had a price increase so we can continue to deliver the great service you expect.” “Just do the price increase if that’s what your company needs. No signs. No months of advanced warning. You work hard. You’ve earned it,” he says.

Read “Give Yourself a Raise” at www.nailsmag.com/raise.

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