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When was the last time you checked your pricing?
We’ve just come through an inflationary period, and while inflation has cooled, prices are still high. We also have had a very strong labor market. So regardless of what your company does, it’s very likely that your costs have risen substantially.
So check your prices, make sure that your margins are something that you’re comfortable with.
Make sure that there is room in there if prices continue to rise. They probably won’t, but they may, you know, no one can predict that.
And if this is making you nervous, remember two things: you don’t have to raise prices for everyone all at the same time. You can grandfather your existing clients and have new prices for new clients. And two, remember there are customers for your services at every price point. This is Judi Otton with GrowthCast, and I’ll be back next week with a new Fiscal Fitness Tip of the Week.