Why it's time to increase your prices
EPISODE 23
Notes
It’s the start of a fresh financial year and today I’m going to be talking about why NOW is a good time to increase your prices if you haven’t already. I’ll be sharing from an objective, accounting perspective, not from a money mindset point of view, which many amazing business coaches talk about.
In this episode, I specifically talk about how inflation, superannuation and the state of our country right now all factor into why it’s time to raise your prices.
I talk about the current high inflation environment and how this impacts the cost of running your business. I also dive into recent changes to superannuation and go into detail about why I’ve increased my prices by 5% this financial year.
Inflation, superannuation and world events all factor into why it’s costing you more to do business than it did 6-12 months ago. I explain why your business profit might actually end up going backward this financial year if you don’t increase your prices.
Price increase conversations are never easy but I hope this episode helps you become clear on why your prices need to increase. Being profitable means knowing your numbers and knowing when to increase prices to cover your expenses.
About the
Author
Bec is a chartered accountant who worked at Australia’s big firms and banks for 15-years. Faced at a crossroads in her career, she backed herself, left her corporate job and launched Straight Up Bookkeeping. 3 years and 5 staff later, Straight Up Bookkeeping is one of Australia’s leading virtual bookkeeping businesses for creatives, with a mission to free business owners from financial stress so they can grow their empires.
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