When it comes to the growth of your business, charging correctly can be one of the most stressful, and time consuming tasks. Charge too much and you could miss out on winning new work, and scare away potential customers. However if you charge too little, you run the risk of completely overloading your capacity, and potentially attracting the wrong type of customers.
So how can you tell if you are undercharging for your services? It can be hard to know, particularly if you’re in a niche industry or you’re a contractor. With the latest inflation data out it seems like there is little respite from rising costs, so it may be time to rethink your own pricing. This Business Tips article covers five common signs we have observed that may indicate you are undercharging.