Is it Time to Rethink Your Pricing? Here’s How to Know

Let’s 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 recognize that it’s time to start considering an increase to your pricing:

✅ 1. You’re Fully Booked or Over Capacity

If demand outpaces your ability to deliver, you're likely underpriced. Higher prices help balance demand and reward your time. If you're booked solid, have a waiting list, or turning down work, it’s a strong indicator you're underpriced.

✅ 2. Clients Rarely Push Back on Price

If every potential customer says “yes” it could mean you're not charging enough. Some price resistance is normal and healthy. 

✅ 3. You’ve Improved Your Skills or Service

If you're faster, more efficient, or delivering better results than when you set your current prices, your value has increased—so should your price. New certifications, better processes, or improved results are all reasons to increase your prices to match your upgraded services.

✅ 4. You Feel Burned Out or Underpaid

When you're working hard and delivering great work but feel under-compensated, it's a red flag. Your pricing likely needs to catch up with your effort and expertise.

✅ 5. You're Delivering Strong ROI for Clients

If your work helps clients make or save significantly more than they pay you, (ROI, time saved, increased revenue, etc), but your pricing doesn’t reflect that, you’re likely leaving money on the table.

✅ 6. Costs Are Rising

If your overhead or inputs (tools, labour, time) have increased, and you are finding your current pricing is not always covering your costs, your pricing needs to adjust to protect your margins.

Raising your rates can be scary, but done with clarity and communication, it usually results in more respect, better clients, and higher profit.  The key to making good decisions about your pricing, is working with real and accurate data.  Working with a good accountant can help 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.  That way, you can make sure your pricing is backed by real insights. If you need help processing or reviewing your data, give us a call and we can offer our expertise.