Black Entrepreneur Blueprint 466 – Jay Jones – The Simple Formula To Raise Your Prices And Make More Money

One of the biggest concerns for entrepreneurs is not charging enough for their products or services and leaving money on the table. The truth is that there is a science to maximizing your pricing and profits that many entrepreneurs don’t know,

Join Jay on his latest Black Entrepreneur Blueprint podcast episode # 466 as he decodes the formula to help you increase your prices and profitability without getting pushback from your customers.

Black Entrepreneur Blueprint # 466


Are you charging enough for your products and services or leaving too much money on the table? That’s the question many entrepreneurs struggle with. On today’s show, I’m going to divulge and decode the simple formula that will allow you to raise your prices, make more money, and be more profitable without your customers complaining.

First, you must understand the definitions and relationship between price and perceived value.

Price – is what you pay

Perceived Value – is what you get, or what you perceive to get

If your price exceeds the perceived value you will not make sales, but if your perceived value is greater than the price you make sales.

The Formula is: Higher Pricing + Aligned Perceived Value = More money and more profit

Many entrepreneurs don’t feel comfortable charging a higher price for their products or services for fear that they will not make sales. But what if you are leaving thousands of dollars of revenue on the table each month?

The two keywords you need to know are: aligned and supported

Your pricing and perceived value must be aligned and supported. What do I mean by aligned and supported? Your pricing and perceived value must match both the alignment/presentation of your products or services and the support material around your product or service like testimonials or free trials.

What happens to most businesses when you increase prices that are not related to economic or industry fluctuations?

They lose money and customers. The reason why is that the price increase is aligned with the product and not supported by the perceived value of the product (ie, testimonials, upgraded product or service presentation, etc)

How do you do this?

  • Your price vs perceived value must be aligned
  • Your messaging must be aligned
  • Your brand or product image must be aligned and professional (website, other materials)
  • You understand your audience/customers’ wants and needs
  • You understand what motivates people: Three things motivate people: move away from pain or move towards pleasure or want status

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