{"id":15550,"date":"2021-10-15T09:00:31","date_gmt":"2021-10-15T16:00:31","guid":{"rendered":"https:\/\/evergreensmallbusiness.com\/?p=15550"},"modified":"2021-10-15T09:02:35","modified_gmt":"2021-10-15T16:02:35","slug":"psst-time-to-raise-your-prices","status":"publish","type":"post","link":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/","title":{"rendered":"Psst. Time to Raise Your Prices."},"content":{"rendered":"<p><a href=\"https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-15556\" src=\"https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980-300x164.jpg\" alt=\"Inflation means you probably need to raise your prices blog post.\" width=\"300\" height=\"164\" srcset=\"https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980-300x164.jpg 300w, https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980-768x420.jpg 768w, https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980.jpg 799w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>I don&#8217;t know about your small business. But for us? We haven&#8217;t been very disciplined about raising prices during the pandemic.<\/p>\n<p>So even if our costs rose? We sort of ignored that. We were more concerned with helping people get through the last couple of years. Helping readers of our blog and then our clients get <a href=\"https:\/\/evergreensmallbusiness.com\/maximize-ppp-forgiveness-with-five-tips\/\">PPP loans<\/a>, for example. And helping folks maximize <a href=\"https:\/\/evergreensmallbusiness.com\/recovery-startup-business-employee-retention-credit\/\">employee retention credits.<\/a><\/p>\n<p>And when the pandemic or regulatory changes pushed up costs? Okay. Keep this under your hat. It&#8217;s a little embarassing. Because we&#8217;re accountants. But we also pretty much ignored that. We were doing tax returns.<\/p>\n<p>And so now after a couple of years of mostly flat prices, we need to get serious about repricing for inflation. And why I&#8217;m talking about this openly in a blog post?<\/p>\n<p>Well, I am very sorry to suggest yet another task for your crowded to-do list. But I suspect you too may need to think about how to raise your prices for the effects of inflation.<\/p>\n<p>But let&#8217;s go over the arithmetic and the accounting.<\/p>\n<h2>Why You Need to Raise Your Prices<\/h2>\n<p>The rationale for raising your prices? Well, if you haven\u2019t yet experienced it in a big way, inflation is coming.<\/p>\n<p>But probably? You&#8217;ve already been experiencing inflation. <a href=\"https:\/\/www.bls.gov\/cpi\/\">Stuff costs more now<\/a>. People, Technology. Insurance. Rent.<\/p>\n<p>And then the other issue that you may be confronting? The way you may have compensated for inflation in past? You know, just making it up on volume? So by selling more?<\/p>\n<p>Supply and capacity constraints maybe won&#8217;t work in this environment. At least for a while. (See <a href=\"https:\/\/www.forbes.com\/sites\/garthfriesen\/2021\/09\/03\/no-end-in-sight-for-the-covid-led-global-supply-chain-disruption\/?sh=3c0c0c0b3491\">this article<\/a> from Forbes.)<\/p>\n<p>Accordingly, to stay economically viable? You may have to rise prices. Regularly. Diligently.<\/p>\n<h2>A Really Simple Example: What Not to Do<\/h2>\n<p>Let me construct a really simple example of what you don\u2019t want to happen.<\/p>\n<p>Let\u2019s assume your revenues run $1,000,000, your cost of goods sold runs $500,000, and your overhead (rent, salaries, advertising and so on) run $300,000.<\/p>\n<p>That means you make $200,000 a year if things work as you want. Now probably you use a chunk that $200,000 of profit to grow your business. We both know that&#8217;s the way small business works.<\/p>\n<p>But let\u2019s ignore that complexity. And with that simplification, your baseline year looks like this:<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"312\"><\/td>\n<td width=\"312\">Baseline Year<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">Revenues<\/td>\n<td width=\"312\">$1,000,000<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">Less:<\/td>\n<td width=\"312\"><\/td>\n<\/tr>\n<tr>\n<td width=\"312\">\u00a0Cost of Goods Sold<\/td>\n<td width=\"312\">$500,000<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">\u00a0Salaries, Rent, Advertising, Etc.<\/td>\n<td width=\"312\">$300,000<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">Total Expenses<\/td>\n<td width=\"312\">$800,000<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">Profits<\/td>\n<td width=\"312\">$200,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>That&#8217;s pretty good, right? I agree.. But danger lurks.<\/p>\n<h2>What Inflation Does to your Profitability<\/h2>\n<p>The problem you face now is how to respond to inflation. Probably your costs of goods sold is inflating. Maybe even sharply.<\/p>\n<p>And then your overhead costs\u2014salaries, rent, advertising and so on\u2013are surely coasting up, too.<\/p>\n<p>If cost of goods sold increases by five percent and overhead costs increase by four percent for each of the next couple of years\u2014and you don&#8217;t adjust your prices\u2014things might be pretty bleak, as shown below.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"218\"><\/td>\n<td width=\"216\">After One Year of Inflation in costs<\/td>\n<td width=\"189\">After Two Years of Inflation in costs<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">Revenues<\/td>\n<td width=\"216\">$1,000,000<\/td>\n<td width=\"189\">$1,000,000<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">Less:<\/td>\n<td width=\"216\"><\/td>\n<td width=\"189\"><\/td>\n<\/tr>\n<tr>\n<td width=\"218\">\u00a0Cost of Goods Sold<\/td>\n<td width=\"216\">$525,000<\/td>\n<td width=\"189\">$551,000<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">\u00a0Salaries, Rent, Advertising, Etc.<\/td>\n<td width=\"216\">$312,000<\/td>\n<td width=\"189\">$324,000<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">Expenses<\/td>\n<td width=\"216\">$837,000<\/td>\n<td width=\"189\">$875,000<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">Profits<\/td>\n<td width=\"216\">$163,000<\/td>\n<td width=\"189\">$125,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Just to point out the obvious: For the baseline year, cash profits equal $200,000.<\/p>\n<p>But after two years of steady inflation, cash profits shrink to $125,000 if you can&#8217;t raise your prices.<\/p>\n<p>That&#8217;s brutal.<\/p>\n<p>And this sidebar because some business owners and most non-business owners miss this point: Those cash profits do not equate to owner wages.<\/p>\n<p>Some of the\u00a0 money represents owner wages. But some of it represents payroll taxes. Some of it represents the fringe benefits like the employees get. And much of it goes to grow the business (by investing in inventory, fixtures and equipment.)<\/p>\n<h2>How Price Bumps Fix Profitability Problems<\/h2>\n<p>You can see what you need to do: You need to raise your prices so you don\u2019t continually experience shrinking profits<\/p>\n<p>Suppose you increase your prices by four percent, across the board.<\/p>\n<p>In that situation, even if cost of goods sold increase by five percent and overhead costs increase by four percent for each of the next couple of years, things look way better.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"218\"><\/td>\n<td width=\"216\">After One Year of Inflation<\/td>\n<td width=\"189\">After Two Years of Inflation<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">Revenues<\/td>\n<td width=\"216\">$1,040,000<\/td>\n<td width=\"189\">$1,082,000<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">Less:<\/td>\n<td width=\"216\"><\/td>\n<td width=\"189\"><\/td>\n<\/tr>\n<tr>\n<td width=\"218\">\u00a0Cost of Goods Sold<\/td>\n<td width=\"216\">$525,000<\/td>\n<td width=\"189\">$551,000<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">\u00a0Salaries, Rent, Advertising, Etc.<\/td>\n<td width=\"216\">$312,000<\/td>\n<td width=\"189\">$324,000<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">Expenses<\/td>\n<td width=\"216\">$837,000<\/td>\n<td width=\"189\">$875,000<\/td>\n<\/tr>\n<tr>\n<td width=\"218\">Profits<\/td>\n<td width=\"216\">$203,000<\/td>\n<td width=\"189\">$207,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Which probably shows you what you need to do. And what we need to do. And for the record? I agree regularly raising your prices to deal with inflation isn&#8217;t very pleasant.<\/p>\n<p>But the pandemic changed a lot of stuff. And getting used to dealing with the impact of inflation on your profit margins and bottomline profits? Yeah, probably just another new task you need to deal with. Sorry.<\/p>\n<h2>Related Blog Posts<\/h2>\n<p><a href=\"https:\/\/evergreensmallbusiness.com\/grow-small-business\/\">How to Grow Your Small Business<\/a><\/p>\n<p><a href=\"https:\/\/evergreensmallbusiness.com\/the-hidden-magic-of-arithmetic-growth\/\">Hidden Magic of Arithmetic Growth<\/a><\/p>\n<p><a href=\"https:\/\/evergreensmallbusiness.com\/pricing-small-business-services-profitably\/\">Pricing Small Business Services Profitably<\/a><\/p>\n<p><a href=\"https:\/\/evergreensmallbusiness.com\/the-small-business-long-game-compound-growth\/\">The Small Business Long Game: Compound Growth<\/a><\/p>\n<p><a href=\"https:\/\/evergreensmallbusiness.com\/calculus-of-growth\/\">Has Your Business Stopping Growing?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I don&#8217;t know about your small business. But for us? We haven&#8217;t been very disciplined about raising prices during the pandemic. So even if our costs rose? We sort of ignored that. We were more concerned with helping people get through the last couple of years. Helping readers of our blog and then our clients [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[12,5,16],"tags":[],"class_list":{"0":"post-15550","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-management","8":"category-new-business","9":"category-strategy","10":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Psst. Time to Raise Your Prices. - Evergreen Small Business<\/title>\n<meta name=\"description\" content=\"In recent decades, most entrepreneurs haven&#039;t had to plan for inflation. But times change. You need to think about how to raise your prices.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Psst. Time to Raise Your Prices.\" \/>\n<meta property=\"og:description\" content=\"In recent decades, most entrepreneurs haven&#039;t had to plan for inflation. But times change. You need to think about how to raise your prices.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/\" \/>\n<meta property=\"og:site_name\" content=\"Evergreen Small Business\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-15T16:00:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-15T16:02:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"799\" \/>\n\t<meta property=\"og:image:height\" content=\"437\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Stephen Nelson CPA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@SeattleCPA\" \/>\n<meta name=\"twitter:site\" content=\"@SeattleCPA\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stephen Nelson CPA\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/\"},\"author\":{\"name\":\"Stephen Nelson CPA\",\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/#\\\/schema\\\/person\\\/81bbd61b04df6d67d261eaa871e65e36\"},\"headline\":\"Psst. Time to Raise Your Prices.\",\"datePublished\":\"2021-10-15T16:00:31+00:00\",\"dateModified\":\"2021-10-15T16:02:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/\"},\"wordCount\":808,\"commentCount\":1,\"image\":{\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/iStock-943687980.jpg\",\"articleSection\":[\"management\",\"New business\",\"Strategy\"],\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/\",\"url\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/\",\"name\":\"Psst. Time to Raise Your Prices. - Evergreen Small Business\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/iStock-943687980.jpg\",\"datePublished\":\"2021-10-15T16:00:31+00:00\",\"dateModified\":\"2021-10-15T16:02:35+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/#\\\/schema\\\/person\\\/81bbd61b04df6d67d261eaa871e65e36\"},\"description\":\"In recent decades, most entrepreneurs haven't had to plan for inflation. But times change. You need to think about how to raise your prices.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/#primaryimage\",\"url\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/iStock-943687980.jpg\",\"contentUrl\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/iStock-943687980.jpg\",\"width\":799,\"height\":437,\"caption\":\"Inflation means you probably need to raise your prices blog post.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/psst-time-to-raise-your-prices\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Psst. Time to Raise Your Prices.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/#website\",\"url\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/\",\"name\":\"Evergreen Small Business\",\"description\":\"Actionable Insights from Small Business CPAs\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/#\\\/schema\\\/person\\\/81bbd61b04df6d67d261eaa871e65e36\",\"name\":\"Stephen Nelson CPA\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/fa0c0563c8278d739d19e83181897fe96010490739f2050455931c5de2bf7fdd?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/fa0c0563c8278d739d19e83181897fe96010490739f2050455931c5de2bf7fdd?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/fa0c0563c8278d739d19e83181897fe96010490739f2050455931c5de2bf7fdd?s=96&d=mm&r=g\",\"caption\":\"Stephen Nelson CPA\"},\"url\":\"https:\\\/\\\/evergreensmallbusiness.com\\\/author\\\/seattlecpa2014\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Psst. Time to Raise Your Prices. - Evergreen Small Business","description":"In recent decades, most entrepreneurs haven't had to plan for inflation. But times change. You need to think about how to raise your prices.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/","og_locale":"en_US","og_type":"article","og_title":"Psst. Time to Raise Your Prices.","og_description":"In recent decades, most entrepreneurs haven't had to plan for inflation. But times change. You need to think about how to raise your prices.","og_url":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/","og_site_name":"Evergreen Small Business","article_published_time":"2021-10-15T16:00:31+00:00","article_modified_time":"2021-10-15T16:02:35+00:00","og_image":[{"width":799,"height":437,"url":"https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980.jpg","type":"image\/jpeg"}],"author":"Stephen Nelson CPA","twitter_card":"summary_large_image","twitter_creator":"@SeattleCPA","twitter_site":"@SeattleCPA","twitter_misc":{"Written by":"Stephen Nelson CPA","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/#article","isPartOf":{"@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/"},"author":{"name":"Stephen Nelson CPA","@id":"https:\/\/evergreensmallbusiness.com\/#\/schema\/person\/81bbd61b04df6d67d261eaa871e65e36"},"headline":"Psst. Time to Raise Your Prices.","datePublished":"2021-10-15T16:00:31+00:00","dateModified":"2021-10-15T16:02:35+00:00","mainEntityOfPage":{"@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/"},"wordCount":808,"commentCount":1,"image":{"@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/#primaryimage"},"thumbnailUrl":"https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980.jpg","articleSection":["management","New business","Strategy"],"inLanguage":"en","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/","url":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/","name":"Psst. Time to Raise Your Prices. - Evergreen Small Business","isPartOf":{"@id":"https:\/\/evergreensmallbusiness.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/#primaryimage"},"image":{"@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/#primaryimage"},"thumbnailUrl":"https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980.jpg","datePublished":"2021-10-15T16:00:31+00:00","dateModified":"2021-10-15T16:02:35+00:00","author":{"@id":"https:\/\/evergreensmallbusiness.com\/#\/schema\/person\/81bbd61b04df6d67d261eaa871e65e36"},"description":"In recent decades, most entrepreneurs haven't had to plan for inflation. But times change. You need to think about how to raise your prices.","breadcrumb":{"@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/"]}]},{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/#primaryimage","url":"https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980.jpg","contentUrl":"https:\/\/evergreensmallbusiness.com\/wp-content\/uploads\/2021\/10\/iStock-943687980.jpg","width":799,"height":437,"caption":"Inflation means you probably need to raise your prices blog post."},{"@type":"BreadcrumbList","@id":"https:\/\/evergreensmallbusiness.com\/psst-time-to-raise-your-prices\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/evergreensmallbusiness.com\/"},{"@type":"ListItem","position":2,"name":"Psst. Time to Raise Your Prices."}]},{"@type":"WebSite","@id":"https:\/\/evergreensmallbusiness.com\/#website","url":"https:\/\/evergreensmallbusiness.com\/","name":"Evergreen Small Business","description":"Actionable Insights from Small Business CPAs","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/evergreensmallbusiness.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en"},{"@type":"Person","@id":"https:\/\/evergreensmallbusiness.com\/#\/schema\/person\/81bbd61b04df6d67d261eaa871e65e36","name":"Stephen Nelson CPA","image":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/secure.gravatar.com\/avatar\/fa0c0563c8278d739d19e83181897fe96010490739f2050455931c5de2bf7fdd?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/fa0c0563c8278d739d19e83181897fe96010490739f2050455931c5de2bf7fdd?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/fa0c0563c8278d739d19e83181897fe96010490739f2050455931c5de2bf7fdd?s=96&d=mm&r=g","caption":"Stephen Nelson CPA"},"url":"https:\/\/evergreensmallbusiness.com\/author\/seattlecpa2014\/"}]}},"_links":{"self":[{"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/posts\/15550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/comments?post=15550"}],"version-history":[{"count":28,"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/posts\/15550\/revisions"}],"predecessor-version":[{"id":15577,"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/posts\/15550\/revisions\/15577"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/media\/15556"}],"wp:attachment":[{"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/media?parent=15550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/categories?post=15550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evergreensmallbusiness.com\/wp-json\/wp\/v2\/tags?post=15550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}