Top Trending: 6 Tips for Your Marketing and Sales Reps to Consistently Produce Value-Added Content

The Key to Setting and Changing Your Prices

  • ---Shares
Reader Resource

Apply now to be an Entrepreneur 360™ company. Let us tell the world your success story. Get Started »

Lots of business owners stress out about pricing. For good reason. Price your product too high and you can lose customers to your competitors. Too low and risk losing money.

No matter if you're setting your prices for the first time or changing your prices, sales expert and entrepreneur Grant Cardone says you need to keep one important thing in mind: value. 

You don't need to have the lowest prices to be the best, he says. The value of your product or service needs to exceed the price you set. The idea, he says, is that the value provided transcends commodity and becomes a needed resource for your customers.

"If your value is additional, or if people use your product more, then you are lowest even if your prices are higher," Cardone says. "When value exceeds price, people will freakin' throw down money, throw it down more than once and tell their friends they love you."

For more insight on setting prices, watch the short video above.

Related: 3 Strategies for Raising Your Prices

Edition: May 2017

Get the Magazine

Limited-Time Offer: 1 Year Print + Digital Edition and 2 Gifts only $9.99
Subscribe Now
OK

This website uses cookies to allow us to see how our website and related online services are being used. By continuing to use this website, you consent to our cookie collection. More information about how we collect cookies is found here.