Have you noticed the constant, incremental movement of prices over the last few years?
We hear about it in rent, freight, groceries and wages, but what are you doing in your business around your rates? We’ve actually experienced one ourselves recently. Xero subscriptions prices are increasing slightly in September, we’ll be in contact closer to the time with more information on how this affects you, but in summary:
- The Starter plan is increasing by $1.50/mo to $29
- The Standard plan is increasing by $2/mo to $62
- The Premium plan is increasing by $3/mo to $78
We think now is the time for many small businesses to be reviewing their sales rates and running a keen eye across the costs within their businesses to see where their margin may have slipped over recent times.
The results for the clients we’ve taken through this exercise have been amazing. That ‘price creep’ here and there has amounted to large numbers. It’s unsustainable for many businesses to wear that increase.
And guess what, when you then inform your clients of the increase, they ‘get it’! They’re going through the same.
The cost of everything is going up, or rather, the buying ability of your dollar is going down.
We’d love to help you with this exercise if you need it.