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.

Download our free retail customer loyalty success guide to learn how to drive customers back 2x more.

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