Why You Should Think About Increasing Your Prices

Increasing your marketing budget and raising prices may seem like the exact wrong thing to do in today's gloom-and-doom economy, but it's actually not a bad time to do both, says this New York Times article.

Spending more on marketing, it argues, makes sense because your competitors are probably scaling back—so your marketing message has a better chance of being seen and heard by new customers.

As for raising prices, the rationale goes that whether there's a recession or not, the fact is that costs are increasing for businesses. As long as businesses can continue to prove the value to customers, the increase shouldn't scare anyone away.

The current issue of MyBusiness covers the basics of raising prices without losing customers. Check out the article here, and check back in a few weeks for the next issue of MyBusiness, which features the "Essential Guide to Recession-Proofing Your Business."