Pricing - why it is important and what most people get wrong

When I see someone selling a poster for $25, I simply smile and thank them. Why? Because I know that at that price, they'll never be a real competitor on a national level—they won’t have the margins to scale or survive the inevitable challenges like a rainout weekend. Pricing is one of the most delicate aspects of any business, yet many fail to grasp its true importance. Consider how you perceive companies that offer low prices. Do you associate Walmart or Dollar General with high-quality items? There's a reason Saturn went out of business while Tesla thrived selling $100,000 vehicles. It’s not what you might think. In this episode, we explore the critical role of pricing in shaping the perception of your brand, the sustainability of your business, and why getting it right is essential for long-term success.