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Is It Time to Rethink Your Pricing? Here’s How to Know
We’re here to talk about something many business owners avoid... pricing.
If your profit margins feel too tight, your revenue isn’t matching your workload, or you haven’t reviewed your rates in over a year… it might be time for a pricing adjustment.
Here are a few tips to help you rethink and refine your pricing model, without the stress:
1. Review your actual costs
Start with your numbers. Look at your current expenses (both fixed and variable), tools, time, and team. Are your current prices covering your costs and your profit goals? If you’re always playing catch-up financially, your pricing might be part of the issue.
2. Factor in value, not just time
Your pricing should reflect the value of the results you provide not just the hours you spend. If your work saves clients time, stress, or money, price accordingly. Don’t downplay your impact.
3. Don’t forget the “extras”
Think about client communication time, admin work, software, revisions, and scope creep. These things add up and should be built into your rates.
4. Communicate your pricing with confidence
If you’re planning to increase rates, give clients plenty of notice and clearly explain the value they’re receiving. Transparency builds trust and confidence sells.
5. Test before you fully commit
Try your new pricing with new clients first, or offer tiered packages to give people options. This gives you room to gather feedback and refine your model.
Thinking about changes to your pricing? It’s starts with real data.
We help business owners like you review your numbers, clean up the books, and ensure your financials are accurate so you can confidently adjust your pricing with the full picture in mind. We make sure your books are up to date and your pricing is backed by real insights.
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