How to know when to loose Your customers

The fastest way I ever increased my profit was when I lost the most customers. Let me tell you what happened. When I was struggling in my business, we were struggling with sales. We were getting customers, our goods were even booked in advance. But inside, something else was happening. At the end of the month, after paying all expenses, the money left was not that much. So I went to my mentor looking for a solution. I explained everything to him to get a new strategy. He said something that shocked me. He told me, "Double your price." I was like, "Even though I know our price is better than everyone." He asked me, "What's the worst that can happen if you double your price?" I told him, "We will lose most of our customers." And he said, "That's exactly the point." I was not sure, but he was my mentor, I trusted him. So I went back and told my staff, "We are doubling our prices." Our customer visit started going down drastically, but revenue stayed the same, which means more profit. And by the third month, some of our own customers also returned. We didn't lose much of our customers. That is not a business problem solved by getting more customers. When my mentor told me, "The reason I asked you to double your price is because you always sell out fast. You know your price is better than all your competitors." And when I asked you, "Will you increase your price?" It's over a year. So if you have these three signs in your business, then you need to increase your price.