Let’s talk about something many business owners tend to avoid… pricing.
If your profit margins feel razor-thin, and if you haven’t reviewed your rates in over a year, then it might be time to rethink your pricing.
Below are a few practical tips to help you rethink and refine your pricing model—without the overwhelm:
1. Review Your Actual Costs
Let’s start with the numbers. Do you know your real costs to operate?
That includes your fixed expenses (like rent, software subscriptions, insurance), variable costs (like contractors, materials, or marketing), your time, your team’s time, and all the tools you use to get the job done. Too often, business owners set prices based on industry norms or guesswork—and forget to check if they’re actually covering all their expenses and leaving room for profit.
If you’re constantly playing catch-up financially, your pricing could be part of the problem. A simple bookkeeping review can help reveal whether your current rates are really working for your business.
2. Factor in Value—Not Just Time
Time is important, but value is everything.
If your work saves your clients time, stress, confusion, or helps them make more money, your pricing should reflect that impact. This is especially true for service-based businesses. You’re not just selling time—you’re selling results.
Clients aren’t just paying for the hour it takes you to complete a task—they’re paying for your expertise, your process, your ability to solve a problem, and the peace of mind that comes with it. Don’t sell yourself short.
3. Don’t Forget the “Extras”
You know that time you spend answering emails, creating proposals, handling admin work, or doing unexpected client revisions? Those tasks can quietly eat away at your profits if they’re not accounted for.
Even scope creep—when a client asks for “just one more thing”—can snowball into hours of unbilled work. Make sure you’re factoring in those “invisible” hours and costs when building your pricing. Better yet, set boundaries and processes that protect your time and your bottom line.
4. Communicate Your Pricing with Confidence
Raising prices can be nerve-wracking—but confidence and transparency go a long way.
If you’re planning to increase your rates, give clients advance notice and be clear about the value they’re getting. Highlight your results, your service upgrades, or the ways your work has evolved. When you lead with transparency and value, most clients will respect your decision—and those who don’t may not be the right fit long-term.
Confidence sells. And knowing your pricing is rooted in accurate data gives you the clarity you need to stand by it.
5. Test Before You Fully Commit
Not ready to roll out a price increase across the board? You don’t have to.
Try your updated pricing with new clients first, or experiment with tiered packages to give clients options. This lets you test what resonates, gather feedback, and adjust if needed before making a full transition.
Sometimes small changes can make a big difference in how your services are perceived—and purchased.
Ready to Adjust Your Pricing? Start with Real Data.
You can’t price confidently if your books are a mess. We help business owners like you get clear on your financials so you can make informed decisions with ease.
From cleaning up your books to identifying hidden expenses and profit leaks, we give you the insights you need to adjust your pricing from a place of clarity, not guesswork. Whether you’re raising rates, restructuring packages, or building a new offer, we’ll make sure your numbers support your goals.
Let’s take the stress out of pricing—and help you get paid what you’re worth. For more business tips or information on how we can help use the link below.
https://quicknezbooks.com/bookkeeping-basics-every-photographer-should-know/
