If you want to boost your growth or profits FAST, start with pricing - it’s the fastest business lever!🚀 Unfortunately, most companies miss out on this opportunity.😱
Here’s why:
🙅♂️No dedicated pricing team
💸Tight budgets
⚙️Lack of tools or knowledge
But the biggest obstacle? Mindset.🧠
How to shift that mindset?
Nike said it best: Just do it!💪
You don’t need perfection, just start. Experiment, learn, adapt.
Here’s how to begin:
🎯Set your objectives: Is it profitability, growth, reducing churn, or something else? Prioritize!
📚Invest in knowledge: Read up on pricing or get trained. You’ll be surprised how quickly you can level up.
🛠Audit your process: Who's making pricing decisions today? Can you tighten control and improve?
🤔Review your pricing model: How do customers and partners perceive it? Start asking them and your team.
📊Leverage data: Gather and prioritize relevant data. Clean, standardized data drives better decisions.
🤖Consider external help: Explore AI-powered pricing solutions and/or pricing consultants to accelerate results.
Find QUICK WINS:
📉Areas with low or no profitability
🛑Hidden pockets of inelasticity
🚀Where demand exceeds supply
Tackle one of these today. Don’t overthink it. Choose what feels most doable and just do it!✔️
Interested in learning more about AI-Powered Price Optimization and Strategic Forecasting?
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