Have you checked your prices recently?
An old work colleague of mine frequently referred to “busy fools”. These were the people that worked really hard to keep revenue coming into their business but had margins so low that they didn’t make any profit.
Have you checked recently that you are not slipping into the “busy fool” category?
With the impact of the Coronavirus and Brexit seeping through in the form of increased prices, from materials to utility services the cost base of most businesses has crept up, in some cases quite significantly.
Whilst there may be reservations about increasing prices when most businesses are feeling the pressure there has be time when action is taken.
Fuel prices are not due to decrease anytime soon, material costs are unlikely to return to pre covid figures, very few of the increases are likely to drop to the same levels which led to your existing prices.
It’s time to get the calculators out, work through the Excel spreadsheets and double check that your pricing models are sustainable.