The Race To The Bottom: Secrets to Making More in Your Business

In this episode, Rick discusses the concept of the race to the bottom in business. He shares thought-provoking insights on how commoditizing your business doesn't set you up for success and explores the importance of charging premium prices to position yourself as a unique and valuable offering in the market.

Rick references an intriguing study involving wine samples to illustrate the correlation between price and value perception. It's not just about lower prices; it's about the perceived value that comes with premium pricing. The episode delves into the idea that increasing prices can, in fact, elevate the perceived value of your product or service, whether you're in a commoditized market or not.

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