Ep. 280 - When You Can't Raise Prices

Your costs are up. Supplies cost more. Labor costs more. Everything costs more. Your margin is shrinking. The obvious answer is to raise prices. But what if your customers are price-sensitive, and your competitors haven't moved? You're worried that raising prices means losing the business entirely. So you're stuck. Costs rising, prices frozen, margin compressing. You need a way out that doesn't involve hoping things get better. Hope dies last.