Written by: Charles Blakeman
The Sausage Vendor said he bought his sausages for a buck, and sells them for $.95. When challenged as to how he would make money, he said, “No problem, I’ll make it up in volume.”
Business owners focus on Revenue when they should be focused on Profit. If they focused on Profit, they would raise their prices more often.
(This is Part One – The Mind Games of Pricing. Next week we’ll do Part Two – The Mechanics of Pricing)
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