Raising prices, keeping customers
Many business owners believe a price increase will drive customers away. But those offering something unique may be surprised by their pricing power.
Justin Martin, Fortune Small Business September 13, 2007
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Pricing issues often vex small businesses, especially in today's climate, with competition - domestic, foreign, and Internet - rising along with costs. But veteran business owners and pricing experts say that if more small companies freshly examined their competitive positions and service offerings, they would find that they could raise prices, keep key customers, and boost their bottom line. "Raising prices is risky," says Ralph Zuponcic, a Hudson, Ohio, consultant, "but so is not raising prices."


Getting the Prices Right
Because new pricing models can be tricky, more companies are turning to consultants for guidance. But price consulting doesn't come cheap.
Claire Adrian, CFO Magazine October 13, 2004
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...Cleveland-based PricePoint Partners Inc. specializes in industrial and business-to-business pricing. Co-founder and senior partner Ralph Zuponcic says the firm finds opportunities to improve revenue by examining areas in which loss may occur, such as excessive discounting, poor negotiation skills, or missed opportunities in transaction fees. "We look in all the cracks in the floor," he says.
But price consulting doesn't come cheap. In addition to a small management fee to cover costs, PricePoint receives a percentage of a company's actual price-improvement gain. Says Zuponcic: "We share the risk with our clients, and they all seem to like that."