Startup Guides > 5 Surprising Reasons To Raise The Price Of Your Product

Why wouldn't you charge a premium price for providing an extraordinary product/service and value? After all, it beats banging your head against the wall trying to undercut competitors' prices, doesn't it?

Selling premium products and services at premium prices leads to greater profits. If you want to make a million this year, you'd have to sell 40,000 copies of your product at $25. Or 4,000 copies at $250. Or, better yet, 400 copies at $2,500. Isn't it a lot easier dealing with 400 customers than 40,000?

Here are 5 reasons why you should raise the price of your product or service:

1) More profits

When you sell for higher prices, you make more profits in the long run. Very few companies have been able to sustain a low-price position in the marketplace. Strive to be an Apple, not a Kmart...