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Just Double Your Prices
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Original title: Just Double Your Prices · Alex Hormozi
Key takeaways
- One day, an old merchant sees him turn away customers halfway through the day when he runs out of bread.
- Lose all my customers." But eventually, he's like, "Fine, I'll double my prices." And when he does, he loses half his customers.
- And so a year later he sold the same number of lows he used to but at four times the price to his favorite customers because they valued the quality over the price.
Chapters
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0:00
Abschnitt 1 A baker sells the best bread in town for one copper coin.
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00A baker sells the best bread in town for one copper coin. And so he's working 18 hours a day, but he's barely surviving. One day, an old merchant sees him turn away customers halfway through the day when he runs out of bread. He says, "Just double your prices." And of course, the baker is like, "That's impossible. Lose all my customers." But eventually, he's like, "Fine, I'll double my prices." And when he does, he loses half his customers. But he makes the same money working half the time. And with his free hours, he then experiments with new recipes, and his bread gets even better, and he sells even more. And over time he keeps selling more until eventually he doubles his prices again. And so a year later he sold the same number of lows he used to but at four times the price to his favorite customers because they valued the quality over the price. And so the merchant then said to him, "The price you charge is how valuable you tell the world your work is." And the world believed you as soon as you …