Are you feeling like your prices might be a bit off lately? You’re not alone. Pricing isn’t just about covering costs or making a profit; it’s about signaling your value and fitting into your market in a way that feels right. Sometimes, it’s tricky to know when to make a change. So, here are five signs that it might be time to take a fresh look at your pricing strategy.
If your costs have gone up (or down—lucky you!), it might be time to adjust your prices to match. This isn’t just about raw materials; consider other costs like software, rent, or even your own expertise as you become more skilled and efficient.
It’s music to our ears when customers say they love our work, but if they start adding, “and you’re so cheap,” or “what a bargain!” it might be a sign that your prices are too low. We love making our customers happy, but we also need to make sure we value our work appropriately.
Being booked solid is great, but if you’re consistently swamped, it’s possible your low prices are the culprit. It’s okay to raise your prices to manage demand better. This can improve not only your income but also your ability to focus on each project fully.
Markets change, new competitors emerge, and customer preferences shift. If your industry has seen significant changes, your pricing should likely reflect that. Keep an eye on what others are charging and make sure you’re not selling yourself short or pricing yourself out of the market.
Have you upped your game recently? Maybe you’ve taken some courses, streamlined your process, or added new features to your products. If the value you provide has increased, your prices should reflect that. Your customers are paying for value, and if you’re offering more, it’s fair to adjust your prices accordingly.
Ready to tweak those numbers?
Remember, revisiting your pricing isn’t just about increasing your rates—it’s about making sure they accurately reflect the value you bring and the reality of your costs and market. Changes should be made thoughtfully and communicated clearly to your customers.
If any of these signs hit home, it might be time to crunch some numbers and consider how a pricing strategy update could benefit your business and your peace of mind.
Here’s to making your business as profitable as it deserves to be!
As small business owners, the end of the year can often feel extremely overwhelming, with all the deadlines and projects needing to be wrapped up this time of year. And we also can’t forget the challenge of managing school holidays!
To help you navigate the season without burning out, we’ve curated a list of some of our top tips to help you get through this period.
Sabrina takes us through a 20 minute guided visualisation to help you step into the best version of YOU (your higher self).
The holiday season is upon us, and there’s no better time to support small businesses and gift thoughtfully. This year, we’re excited to bring you the Golden Brands Christmas Gift Guide, featuring a curated selection of products from our talented members. From beautiful, hand-crafted items to sustainable must-haves and indulgent treats, there’s something here for everyone on your list.
Two years ago, on the 11th of the 11th, I launched the Golden Brands membership after spending nearly an entire year doubting myself and wondering if I could make this work.
So you might have found a free contract online and jazzed it up a bit to suit your brand and now you’re away booking clients, using your very basic contract and hoping for the best…
What an incredible day we had at A Golden Success Business Conference last week at The Calile Hotel in Brisbane! Surrounded by over 100 passionate women in business from across Australia and New Zealand, like-minded industry experts, and a lineup of powerhouse speakers, it was an incredible day filled with learning, inspiration, and genuine connections.
One question I get asked frequently is “what email marketing software are you using to create such beautiful emails?” – the answer is Flodesk!
Yesterday in the Golden Brands membership, we had the pleasure of hosting Kat Elizabeth, a personal branding coach from Magnetic Brand Co. She shared invaluable insights on growing a personal brand, and I wanted to pass on a few of the golden nuggets I took away from our conversation.
Pitching to publications and for collaborations can be a game-changer for your business, but it can also feel a bit daunting. Fear not, because I’ve got you covered with some top tips to make the process smoother and more successful. Let’s dive in!
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