Learn how to raise your prices to boost margins and build your stockpile of growth capital. Exploring different strategies to set your price.

1. Exploring different strategies
to set your price.
HOW TO RAISE
YOUR PRICES

2. OUR JOURNEY
● Price-to-competition
● Price-to-pay the bills
● Price-to-time
● Price-to-cost-plus
● Price-to-product / package / project
● Price-to-perception / positioning
● Price-to-whatever the market will bear
● Price-to-value

3. ● Understanding of different ways you can
determine price
● Insight into ways to price for higher margins
THE IDEAL TAKEAWAY

4. PRICE-TO-COMPETITION

5. HOW IT WORKS
● Consciously research/monitor your competition,
then
● Set your price relative to theirs
● Can be: Higher, Lower, or Same

6. WHERE IT WORKS
● Good for marketplaces
● Competing for consumer attention based on same
product

7. FOR EXAMPLE...

8. PRICE-TO-PAY THE BILLS

9. HOW IT WORKS
How much do you need to keep operating?
● Calculate how much you need to make to stay
afloat (total costs)
● Calculate how many hours you’ll work or product
volume (sales units)
● Then divide total costs by sales units

10. WHERE IT WORKS
● Nowhere

11. PRICE-TO-TIME

12. HOW IT WORKS
Trade hours for dollars.
Billing can be...
● Hourly
● Daily
● Monthly
● etc.

13. WHERE IT WORKS
● Service businesses
● Doesn’t scale
● Retainer model loosens time requirement

14. PRICE-TO-COST PLUS

15. HOW IT WORKS
● Cost of goods plus an added markup
● Usually a percentage of cost

16. WHERE IT WORKS
● Many government contracts are ‘cost plus’
● Leaves you stuck with a fixed margin

17. PRICE-TO-PRODUCT

18. HOW IT WORKS
● Price is based on entire package (or project)
● All elements in total offer
● Build up your total offer and charge more

19. WHERE IT WORKS
● Can be used for physical products and services

20. PRICE-TO-PERCEPTION

21. HOW IT WORKS
● Based on positioning
● How is the product and/or brand perceived in the
marketplace

22. WHERE IT WORKS
● Can be used for physical products and services

23. FOR EXAMPLE...

24. PRICE-TO-WHAT MARKET BEAR

25. HOW IT WORKS
Raise your price until they stop buying.
● Whatever your customers are willing to pay
● Taking into account competition
● Typically governed by supply and demand

26. WHERE IT WORKS
● Highest margins when you have total control over
supply

27. FOR EXAMPLE...

28. PRICE-TO-VALUE

29. HOW IT WORKS
● Figure out how much your product is worth to your
customer
● Then price accordingly
● Many different ways to calculate

30. WHERE IT WORKS
● Everywhere!

31. BONUS! NAME YOUR PRICE

32. HOW IT WORKS
● A better version of ‘Price-to-Pay-the-Bills’
● Instead of just paying the bills, determine how
much you need to fund your ideal lifestyle/business
● Then, build your total offer to earn that price

33. WHERE IT WORKS
● Everywhere!
● Perfect for lifestyle business
● Perfect for raising capital

34. CLOSING

35. CLOSING THOUGHTS
● Consider the strategy behind your current pricing
● Consider the strategies behind your competitors’
pricing
● Are you pricing in way that yields highest profits?

36. THANK YOU
Chris Mohritz / chris@mohritz.co
Slides: 10x.to/rfbo
A
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37. UNLEASH YOUR BUSINESS
EMBRACE EXPONENTIAL
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