Day 19: Should You Raise Your Prices? A Simple Test to Know for Sure
- kbives9
- Jul 17
- 3 min read
🗓️ This post is part of a 90-day blog series for solopreneurs and micro-business owners. Each day offers practical tools to help you build a business that’s sustainable, profitable, and aligned with your life.
If you’ve ever wondered…
“Am I charging too little?”
“Would anyone actually pay more?”
“What if I lose clients if I raise my prices?”
You’re not alone.
Most small business owners undercharge. Not because they’re trying to be cheap — but because they don’t have a clear system for knowing what their pricing should be.
The good news? You don’t need to guess or wait until you’re burned out to raise your rates.
You just need to run a simple 3-part test.
🧪 The 3-Part Test to See If You Should Raise Your Prices
✅ 1. Are you fully booked — but still struggling to pay yourself?
If you’re working as much as you can and the math still isn’t working, it’s a red flag that your pricing isn’t sustainable.
Look at:
Your average revenue per sale
How many hours it takes to fulfill that sale
Your actual take-home pay
If there’s too little left over, your prices are too low — period.
✅ 2. Do most people say yes immediately?
We all love a fast “yes.”But if nearly every customer or client is buying without hesitation, you might be priced too low for the value you offer.
A little resistance is healthy. It means you’re in a price range where people are thinking seriously about their purchase — and when they do buy, they’re more invested.
Try raising your prices by 10–15% for your next 3 leads and see what happens.
✅ 3. Has your skill or demand increased — but your prices haven’t?
If you’ve gotten faster, better, or more in-demand, but your pricing hasn’t changed in over a year, it’s probably time.
Your pricing should evolve with:
Experience
Demand
Cost of doing business
Value delivered
If your business has leveled up, your pricing should reflect that.
🧭 How to Raise Prices Without Losing Clients
Worried your customers will bolt? Use this approach:
🔄 Gradual Increases
Start with new clients. Then notify returning clients in advance, offering a “lock-in” rate if they commit early.
💬 Clear Communication
Explain what’s changing and why. Emphasize added value — not just that things are “getting more expensive.”
Example:
“As we’ve added new tools and faster turnaround times, we’re adjusting our pricing to match the level of service you’ve come to expect.”
🎁 Offer Options
You can bundle services, introduce premium tiers, or create digital add-ons to give clients choices — without discounting.
📊 How to Track the Impact
If you’re using a dashboard or CRM, monitor:
Your close rate
Revenue per sale
Client feedback
Retention
You’ll likely find that the right clients still say yes — and your business becomes more profitable and less stressful.
🔧 Tools to Help You Decide
Google Sheets: Run pricing comparisons and what-if projections
ChatGPT: Draft new service descriptions or client emails
Toggl: Track time spent to update your cost-per-hour
SparkToro: See what others in your niche are charging
Wave or Zoho: Review actual revenue vs. expenses
✨ Inside the Program
In Taking Care of Business – Together, we walk you through:
How to audit your pricing
Which models work best for micro-businesses
Scripts to raise prices with confidence
How to adjust pricing across services, products, or packages
You’ll never have to guess again.
📝 Catch Up on the Series:
Day 1–18 Blog Archive
➡️ Coming Tomorrow: Day 20: Why “One-Size-Fits-All” Business Advice Doesn’t Work — and What to Do Instead
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