In STAHLS’ TV video, Josh and Zach Ellsworth talk about overcoming price pressure.
Here are some major takeaways from the episode:
- Understand your costs first
- If you’re not understanding costs and pricing products to make money, you might have to close up shop sooner than anticipated
- Topline revenue isn’t always a good measure of success in business
- Try to stray away from the “one-size fits all” perspective in terms of pricing and generating profit
- Understand your customer base
- Present a target price
- Offer a good-better-best approach
- Don’t let your insecurities shine through to your customer
