I am in Upstate New York as I write this, conducting business and spending time with family and friends.
Being mobile is very important to me because it allows me to get out and meet with my clients at their locations. This is one of the things that makes the 6 Figure Trainers program truly unique.
Before leaving Greenville, on my motorcycle, of course, I was catching things up and paying bills.
My utility bill caught my attention. Something wasn’t quite right.
In the early days of my business life when things were crazy. I would usually ignore these feelings.
Later I learned, sometimes the hard way, that business success can turn on the little things, like listening to that quiet voice that something isn’t quite right.
I investigated.
What I found was shocking. My electric consumption has gone down 2.5% compared to the past year. But my cost/unit has gone up 17% in the past year. This is huge!
How did this happen? Why didn’t this make the headlines or at least the news?
In good economic times, there is much less price sensitivity. During a recession, there is much more price sensitivity. We are in the longest period of economic growth, without a recession, in the history of this country.
A price increase like this would have been a headline in a recession.
When was the last time you raised your prices? Are you keeping pace with what the rest of the business world is doing, which in many cases is small annual increases?
Data like the information I learned from my electric bill is very powerful. It helps build your confidence when you approach the issue of increasing prices.
The smart business owner collects information like this and stores it in a retrievable file for future reference.
You only get results if you take action on your ideas. Do it now!
