E245: Raising Prices - How Selling Fewer Things Can Make You More Money

Amazon is crowded. Everyone and their mom is hawking something on Amazon, and since there's only a finite number of stuff most people are willing to buy, everyone is clawing their way up from the competition to page 1. One tactic sellers employ to get more sales is to lower their prices. The lower your price, the more sales you get. It only makes sense, right? While it is true to some extent, at the end of the day the race to the bottom hurts the most important thing in business: profits. In this episode, I am joined by 5 Minute Pitch contestant Amanda Wittenborn of Amanda Creations to talk about how lowering prices can actually hurt your business, and conversely, how raising prices can make you more money. In addition, we also discuss: Whether it's better to learn how to market a new website or hire an expert to do it The most important factors that influence the ability to scale How a business can stay relevant in 2019 Amanda is a designer who is passionate about spreading joy to kids and convenience to moms by offering custom design services for every celebration. Check out her creations here. Thanks for listening to this episode! Until the next one, happy selling.