Consider how your demand and your pricing intersect.
Pre-coronavirus, Disney World raised prices every year, much more than inflation would dictate. And every year more people would come. They over inflate the costs of their food to fairly ridiculous rates, and yet people (me) still get up at 6 AM 180 days before their trip to get reservations. More people come. And more people complain about the high prices.
Disney wants fewer people to come to their parks.
Shocking, I know. But the more the parks are crowded, the more cast members they have to hire.
They are trying for the hat-trick of business. They are trying to increase their revenue to decrease their expenses.
You only get to do this if you are the best of the best. McDonald’s can’t do this.
Are you underpricing and overspending to get/retain your customers?
How could you start today to change your business in a way that makes it possible for you to raise prices instead of hiring new cast members?