Keep, change or cut? A pricing checklist for the year ahead

Hands up if you haven’t looked at your prices since “things got a bit weird” (aka COVID, inflation, supply chain chaos, your own burnout).

If you raised your hand, then chances are your prices aren’t matching your cost of doing business. So starting another yet year without a proper pricing check in place is like driving with the fuel light on and hoping for the best. So why not set aside some time to get your prices

Grab a coffee and let’s get started.

Your four-step pricing checklist

1. What should you keep?

Start with what’s already working.

Run through your products or services and ask:

Which ones sell easily without discounting?
Which ones have the best margins (not just the highest sales)?
Which ones customers rave about or reorder without fuss?

These are your keepers. They’re doing the heavy lifting in your business.

Check:

Prices feel fair and profitable
Customers don’t push back
Delivery doesn’t stress you out
You’d happily sell more of this

If something ticks all four, don’t mess with it just for the sake of it. Stability is underrated.

2. What needs to change?

This is where you’ll find most of the gold.

Look for offerings where:

Costs have crept up but prices haven’t.
You’re constantly negotiating or discounting.
You’re working harder for the same money.
You feel a little resentful delivering it (be honest).

Instead of slapping on a price rise and hoping no one notices, think smarter.

Change/Check

Increase the price but add value (faster turnaround, extras, priority access)
Repackage (bundles, tiers, retainers)
Introduce a minimum spend
Remove inclusions and make them optional add-ons

Small changes can have a big impact. Even a 5–10 per cent adjustment across the board can seriously improve cash flow.

3. What should you cut?

This is the bit noone likes, bit it’s usually where you can make the biggest difference to your bottom line.

Ask:

What drains time for very little return?

What attracts the most difficult customers?

What would you secretly love to stop offering?

If something:

Has low margins
Causes stress
Distracts you from better work

…it’s a strong candidate for the cut pile.

Cutting doesn’t always mean killing a product or service overnight. You can:

Stop promoting it
Increase the price to make it worth your while
Phase it out for new customers

Just remember: not every dollar is a good dollar.

4. Pressure-test your prices

Before you lock anything in:

Check what competitors charge (but don’t race to the bottom)
Sense-check with trusted customers or peers
Make sure you can explain the value confidently

If you feel awkward saying the price out loud, that’s probably a sign something’s off. Your pricing should be part of your overall business strategy. It’s not something to set and forget. Reviewing your prices at leat once a year is a must for any business. It helps you to stay ahead of rising costs, avoid burnout and build a business that pays you properly.

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