Knowing when to raise prices is an important aspect of any small business. Many business owners hesitate to change pricing because they simply don't know if it's the right time to do so. In this video, Joey Thomas shares 5 tips on when you should consider raising your prices. 1. Your pricing has been stagnant for a long period of time 2. Your competitors are priced much higher than you 3. You close your sales at a very high percentage 4. Your pricing doesn't reflect the rest of your business 5. You are ready to position yourself in a different segment of your target market
