This story was originally published on HackerNoon at: https://hackernoon.com/why-you-shouldnt-be-scared-to-increase-your-marketplace-commission.
In this article, Arseniy Maximov, a serial entrepreneur and marketplace builder discusses why and how to raise your marketplace's commission.
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Raising commission rates in a marketplace can be a daunting decision, but it can also bring numerous benefits. Adjusting rates based on initial estimates, responding to economic changes, funding platform enhancements, and preparing for future growth are all valid reasons to raise commissions. Addressing fears of losing sellers, initial backlash, competitive disadvantage, and transforming the challenge into an opportunity are crucial in successfully implementing this change. In this article, Arseniy Maximov, a serial entrepreneur and marketplace builder discusses why and how to raise your marketplace's commission.