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A vendor told me my pricing was too low and I couldn't stop thinking about it
Was at a networking event in Cleveland this week and a supplier I've used for 3 years pulled me aside, said my rates were 30% under the market after seeing my invoice. I bumped prices on 10 clients yesterday and only 1 complained. Has anyone else gotten this kind of push from outside their own circle and actually acted on it?
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joseph_hunt2h ago
Read an article a while back about how most small businesses leave money on the table because they base prices on what they think clients will pay, not on what the actual market rate is. Sounds like that vendor did you a solid, even if it stung at first. I've heard similar stories from other business owners where the only pushback they got was from maybe one cheap client, and honestly that's a good sign. If everyone complains about a price hike, you probably went too far. But if almost nobody says anything, that's your cue you were underpricing the whole time. Good on you for acting fast instead of sitting on that info for months.
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