MBA1356 Grandfathering Your Customers, Revisited

We all love our customers — especially the ones who first bought our products and helped us build the foundation of our business. But “grandfathering,” the policy of keeping prices eternally low for those early adopters, may not be a sustainable long-term strategy. Your business has to grow, change, and evolve. Usually, that means prices have to rise too. We’re not saying you should never grandfather. Depending on where you are and the size of your market share, a little love for those first-generation customers can be a wise move. But when the math stops working, you can’t let sentimental feelings get in the way of taking your business to the next level. Here how we’re exploring our own pricing changes, and how we plan to navigate the effect on our current customers. Learn how to transition to a level of pricing that matches increased overhead on your part. See how delighting your customers is less about keeping prices down, and more about making sure your product is worth every cent. Click Play! SUBSCRIBE ON APPLE PODCASTS Stitcher | SoundCloud | Podcast Feed | How To Subscribe Give us a Rating & Review Today’s Sponsors Fizzle Let’s be honest: entrepreneurship can be lonely. You’ve got a million questions about your business, and few people to ask. Get the knowledge and support you need with Fizzle. Fizzle can help you earn a living doing something you love, with training, tools, coaching, community, and their famous Roadmap. Join Omar and thousands of other entrepreneurs on Fizzle — Get a free 14-day trial at fizzle.co/omar now! American Express You said “yes” to starting a business. “Yes” to turning an idea into reality. “Yes” to earning your first dollar, and many more. Now, say yes to the American Express Business Card, with no annual fee, payment flexibility, and other solutions for a growing business. Get the powerful backing of American Express — and don’t do businesses without it. Learn more at americanexpress.com/no-annual-fee Show Links Profitwell WebinarNinja CartHook Blog Profitwell on YouTube The post MBA1356 Grandfathering Your Customers, Revisited appeared first on The $100 MBA. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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