Ron Lippold
RIP
wipe the mac and cheese off your face
WISE said:If you raise your price by 10 % you can lose 40% of your volume and make the same profit.
By contrast, if you lower your price by 10% you will have to do almost exactly double the volume to make the same profit.
That is from one of the best books I've read on business...
How to sell at margins higher than your competition.
Saw Larry Steimetz give a presentation several years ago. Bought his book right after the presentation. He is one smart old country boy. He simplifies economics.
If you raise your price by 10 % you can lose 40% of your volume and make the same profit.
If your average ticket is $150.00 you better raise them 20% or learn how to up sell.
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The math is just a bit more complex than your ave. ticket, etc.