KickStart: Benefit from our current run-away inflation rates to justify your new (large) price increases.
In ‘normal times’ (is there such a thing any more?) I’m a huge proponent of small (3% to 4%) yearly price increases. Here’s why:
1) A small yearly increase will ‘fly under the radar’ of your clients. (Most customers can’t remember what they paid last time.)
KickStart: ‘Charging more’ let’s you pay more to attract better applicants! (And keep the great team you’ve already built.)
I’ve always pushed my students to “charge more”! Why? After almost 50 years in this industry (I started young!) I’m convinced the vast majority of residential service contractors do not remotely understand the TRUE COST of daily business.
But hey, I’m not really a ‘number crunching accountant’ type of guy! So instead, I just preach to my students:
1) “All other things being equal… its better to have LOTS of money instead of having NO money!!”