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5 signs you’re undercharging

5 signs you’re undercharging
Wednesday, June 15, 2022

Are you undercharging for your services? It can be hard to tell, particularly if you’re in a niche industry or you’re a contractor. Costs have been rising, so it may be time to rethink your own pricing.

Here are five signs that you might be undercharging:

  1. Nobody ever questions your quotes - Do all your new clients accept your quotes or charges without asking any questions, requesting a breakdown or wanting a discount? It’s possible they’re delighted to be getting such a great deal.
  2. You run off your feet but you can’t afford to get help - When you’re working yourself to the bone, but there’s not enough money left over to employ someone to help you, your prices are too low – or something else needs to change.
  3. Your prices have been the same for two years or more - In most industries, prices increase just slightly each year. Leave your prices flat for too long and you’re not keeping up with the market; make sure you review your fees annually.
  4. You’re overbooked - When business is booming and there’s no room for new clients, it’s time to raise your prices.
  5. Clients don’t treat you as well as they should - When clients think they’re paying peanuts, they’ll often take you for granted. They don’t see your time as valuable, so they feel free to mess you around.

What should you be charging?

Finding your pricing sweet spot could take a little time. You’ll need to do some research, maybe ask around a little, and find out where your competitors are pitching their rates. 

We can help too – if we have clients in similar industries we might be able to give you some indication of typical fees, so give us a call or drop us a note. We’d love to hear from you.


Moving to Panthera is easy

It’s a big decision to move accountants. We get it. That’s why we have a clearly defined process in place to make it as straightforward as possible.

Step 1: We have a short initial discovery meeting to understand your needs so we can create the perfect service package for your business

Step 2: You receive your tailored proposal with one simple monthly fee and you e-sign the letter of engagement

Step 3: You provide your current accountant with notice – and you leave the rest to us!

We liaise directly with your previous accountant regarding the transfer of information. We request authority from HMRC to act on your behalf. We handle as much of the admin as possible, so you can get on with running your business – safe in the knowledge that everything is going on in the background. And if there’s any action for you, we let you know.

Contact us to find out how we can help you

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