Comments on: Please Bump Your Prices for Inflation https://evergreensmallbusiness.com/please-bump-your-prices-for-inflation/ Actionable Insights from Small Business CPAs Wed, 11 Oct 2017 21:12:52 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Steve https://evergreensmallbusiness.com/please-bump-your-prices-for-inflation/#comment-2849 Tue, 16 Aug 2016 16:52:37 +0000 http://evergreensmallbusiness.com/?p=3580#comment-2849 In reply to Zahra Brown.

Good points Zahra. Thank you.

]]> By: Zahra Brown https://evergreensmallbusiness.com/please-bump-your-prices-for-inflation/#comment-2846 Mon, 15 Aug 2016 20:54:18 +0000 http://evergreensmallbusiness.com/?p=3580#comment-2846 “Further, the inflation you’re experiencing in your personal living expenses plays into how you adjust prices for inflation, too, since your business profits need to stretch to cover the costs of taking care of your family. My small business’s costs for labor, insurance, and taxes, for example, are all increasing at a rate rather more than the consumer price index.”

This is probably another reason why people who don’t charge enough go out of business long-term. That and burnout. It’s bad enough being underpaid, but when all your bills go up things get even worse.

It’s no wonder people don’t notice those moderate decreases over time. A low earner would notice much sooner than someone who could miss $200 a month. That’s a massive drop over four years, though. By the time the business owner notices, they’ll have lost thousands they’ll never get back!

I’ll definitely take this into consideration when reviewing what to charge clients. We writers are notorious for undercharging for our services. Our clients probably put their service prices up while we stay the same. That means they’ll save and we’ll lose out.

Anyway, thanks for posting!

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