Example conversation with Cash & Profit
You
Should I put my prices up?
Cash & Profit
Most trades have not raised prices in line with costs since 2022, so probably yes. The usual approach is a modest increase for new customers first, then existing ones with notice.
How much are you thinking?
How much are you thinking?
You
That is too generic. Apply it to my actual numbers above.
Cash & Profit
Fair. Using the figures you gave me:
Day rate £280, average job 2.4 days, 14 jobs a month. Revenue about £9,400 a month, materials about £2,900, so gross around £6,500.
At plus 10 percent you could lose 3 of 14 jobs and still be level. That is a 21 percent loss rate before you are worse off, and nobody loses 21 percent over £28 a day.
At plus 20 percent your break-even loss rate is 5 jobs. Riskier, but you would also be working four fewer days a month for the same money.
My read: go to £320, tell new enquiries first, give existing customers 30 days notice.
Day rate £280, average job 2.4 days, 14 jobs a month. Revenue about £9,400 a month, materials about £2,900, so gross around £6,500.
At plus 10 percent you could lose 3 of 14 jobs and still be level. That is a 21 percent loss rate before you are worse off, and nobody loses 21 percent over £28 a day.
At plus 20 percent your break-even loss rate is 5 jobs. Riskier, but you would also be working four fewer days a month for the same money.
My read: go to £320, tell new enquiries first, give existing customers 30 days notice.
One line of pushback. The second answer is the one you needed.
- Read the answer.Decide in ten seconds whether it fits your situation.
- If it misses, say so in one line.You do not need to be polite or explain. One line is enough.
- Read the second answer.This is almost always the one you wanted.
Copy any of these
- That is too generic. Apply it to my actual numbers above.
- That assumes I have staff. I do not.
- Option two, but I have half that budget. Redo it.
- Why that and not the other approach?
- Shorter. Just tell me what to do.
You never repeat the background inside a conversation. It already has everything you said.
Try it on your business
Every lesson ends with a question to hand to a Greymill specialist, who answers with what it knows about your business.
More in Ask better questions
- Say what your business isAsk about a topic and you get a textbook. Describe a situation and you get advice.Read the lesson
- Say what you want backOtherwise you get paragraphs when you wanted an email.Read the lesson
- Pull in a second specialist mid-conversationMention them and they arrive having read the whole thread.Read the lesson