When Is It a Good Time to Increase Your Price?

When is the best time to sell a price increase? I get asked that question a lot, and my response is, "Right now." After I say this and see the expression on the person's face, I then have to back up my response with my rationale.

Selling a price increase is not something to be taken lightly. It has to be done with confidence, and too often salespeople will put off taking a price increase under some false belief that if they only wait a couple of weeks, somehow things will be better.

Sure, waiting is an option, but often the only thing you’ll experience is more of a belief as to why you can't make the increase, as well loss of the added revenue during that time frame.