Have you had to change your prices due to the cost of living?

[Shortie]

Inflation and cost of living have been soaring for months now and at the moment there is no end in sight as to when things will get back to how they once were meaning we are all having to do what we can to help our income and help us live without worry. Due to this, some people may have needed to increase the prices of their services even if we may not want to so that we can be sure we are earning enough that would help.

Have you had to change your prices for your services to help with your income since the economy got as bad as it did and the cost of living increased? Has it affected how many sales you make having to increase your prices?

 

[Immilash1]

Nice write-up

If you are starting up a business I believe you are expecting profits from it, if you are not earning money from your business I don't think you'll like to continue.

 

[tyrim88]

It is actually the norm in my clime to always increase the price of your product or services whenever the economy experiences some form of inflation,as a small business outfit you cannot survive it if you want to resort to price slash on your services,you will choke your business.

 

[Immilash1]

It is actually the norm in my clime to always increase the price of your product or services whenever the economy experiences some form of inflation,as a small business outfit you cannot survive it if you want to resort to price slash on your services,you will choke your business.

That's just the fact, if you are having a business, I believe the reason why you started the business is to earn money, if you cannot earn money from it I don't think it will be a good idea for you to continue.

 

[Abigael]

Increasing the price of services during inflation is not easy. But it works quite well with increasing the price of products. People understand product price increase than services price increase. But when everyone is doing it then you can follow suit.

 

[Immilash1]

Increasing the price of services during inflation is not easy. But it works quite well with increasing the price of products. People understand product price increase than services price increase. But when everyone is doing it then you can follow suit.

It's not easy I get it, but if you want to earn money you have to increase it, remember the purpose of starting up a business is to earn money, you can only earn it if you increase your prize.

 

[tyrim88]

That's just the fact, if you are having a business, I believe the reason why you started the business is to earn money, if you cannot earn money from it I don't think it will be a good idea for you to continue.

That is actually true,but on the other hand in business you should not expect things to turn out that rosy from the onset,you should be resilient and have some but if patience while you watch the business grow.

 

[Skysaint]

Yes, during inflation I did increase the price for the services I offer and that's just something that's normal. I can't be charging less hen every other thing around me are almost tripling their prices.

 

[AruneBend]

Inflation and cost of living have been soaring for months now and at the moment there is no end in sight as to when things will get back to how they once were meaning we are all having to do what we can to help our income and help us live without worry. Due to this, some people may have needed to increase the prices of their services even if we may not want to so that we can be sure we are earning enough that would help.

Have you had to change your prices for your services to help with your income since the economy got as bad as it did and the cost of living increased? Has it affected how many sales you make having to increase your prices?

Many business had to do it because things got more exspensive and if they wouldn't increase price they would only lose money it's not easy but I don't think they don't have any other choice I'm not upset about it because I understand that they need to make money too

 

[Kennysplash]

Everyone is trying to survive so once I say that I am not making much as I should I will definitely increase the cost of things. It is inflation that actually caused everything.

 

[Kane]

I tried increasing my price in order to cope with the rising cost of living but I had to lower it immediately because I started losing customers. Buyers have multiple options for freelancers.

 

[Immilash1]

Everyone is trying to survive so once I say that I am not making much as I should I will definitely increase the cost of things. It is inflation that actually caused everything.

You are right, that's why we are all expected to have a good skills set that will have to pace on inflation, having those kinds of skills set is going to help a lot.

 

[Immilash1]

I'm very sure If you are having a business offline you might have experience that, sometimes we do face a lot of things with our businesses, an sometimes we fail.

That's exactly it, if you have a business online or offline you must have face some challenges, but if you know what you are doing you can earn money from it.

 

[Immilash1]

One thing I get to understand about business is failure, failure is part of the game,if you fail you are expected to learn from it, this will give you more experience.

That's exactly the point, if you failed you are expected to learn from your previous mistakes, is not only a knowledge game, is a psychology game aswell.this very important.

 

[Immilash1]

But it seems like a lot of people are not learning from their previous mistakes that's why most of them keep loosing, learning from your mistakes is very important.

If you are good at doing that I'm very sure you'll are going to love the results you'll be having, learning from our previous mistakes is very important, it will help a lot.

 

[Mayorla]

Yes, I have been forced to change the price of the services I offer.
Inflation is really biting hard, and If I did not try to increase my prices them I would be running a loss at what I do.
I explained to my clients the reason for the increment, and Some of them understood.

 

[Immilash1]

Learning from our mistakes will help us not to repeat that same mistake, a lot of people don't like the idea of taking losses, but this also part of the game.

This will help you alot, if you really want to grow with your business you need to have a good mindset, learning from your previous mistakes is very important.

 

[Immilash1]

things like this happens if you are managing a business, a lot of people don't really know how to take care of it, is not all about starting the business, knowing how to manage it is very important.

Exactly,if you are managing a business just put it on mind that you are going to go through a lot of things, you not expected to have that mindset that I'm going to make success out of it.

 

[Abigael]

Yes, I have been forced to change the price of the services I offer.
Inflation is really biting hard, and If I did not try to increase my prices them I would be running a loss at what I do.
I explained to my clients the reason for the increment, and Some of them understood.

Inflation is biting so hard for sure. I hope that all clients could be understanding of the situation. Unfortunately, most of them don't understand. They will complain a lot or stop patronizing you.

 

[HK World]

Nice write-up

If you are starting up a business I believe you are expecting profits from it, if you are not earning money from your business I don't think you'll like to continue.

Yes, you're right. We are all working hard to get a good lifestyle and earn money for our efforts. Even if we enjoy doing work but the results are not profitable, then it's hard to continue for a long time because, due to increasing inflation, we have to raise our service prices as well; otherwise, we won't be making enough to deal with it.