We often write about things on the business blog, which is over here once a week.
https://www.campbellacademy.co.uk/business-blog
Tonight, just on here, I'm interested to talk a little bit about pricing, not really about how you set pricing. That's more like something I was chatting about today in Dorset with the group about how to set the prices and how that automatically gives you a pay rise in most practices in most businesses, because people pay so little attention to it, but more about how to raise your prices.
If you work in the dental area and your technology isn't good enough to set your pricing properly, then it's very difficult to raise your prices. One of the things that has to happen is you have to reprint things or re-educate people; it becomes a pain in the ass, something that you would only do once a year.
When you come to the decision to raise your prices, then you're nervous because the price rise is so big, and you're worried that people won't come, so there is a definite disincentivization to not do it.
If you have an automated system that allows you to raise your prices quite easily, and it's possible to raise your prices twice or three times a year and keeping with what's happening in the market.
If you get the opportunity to do this, almost nobody notices.
I have to go to my podiatrist once a month because of my horrible feet (yuck). The first time I went to see him years ago, it was £40, the last time it was £48, and the most recent one this week was £50.
£2 a time —I never really notice. All of a sudden, it's up 25%.
If you work in an area where you have to charge people for things, understanding how to price, when to price and how to rise, it's just fundamental for life and success.
Blog Post Number - 4314