raising prices is one of the best things you can do if you want to build a successful business. this counterintuitive bit of advice comes from chris luo, vp of marketing at fivestars, a loyalty program platform for small businesses. luo joined the company two years ago, after stints in the marketing departments of facebook and google.

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fivestars has proved the concept. the company increased prices from $64/month when it launched to $99, then $149, then $199. if the growth in new customers has slowed slightly, the rapid rise in revenues has more than made up for it…

click here to read the full article on inc. magazine: why the smartest business leaders raise prices instead of lowering them