Are you planning on registering for GST for the new financial year or already have and you’re wondering how to approach repricing your offers, products and services? It can feel daunting but don’t worry, I’ve got you covered in this episode.
We’re going to explore the strategies I tell my clients for repricing so that you have everything covered, your clients aren’t upset you’ve raised your prices, and your BAS is filed without any mistakes or owed money.
I’ll take you through different approaches you can choose from to pick the best option for your business and where you are in your business journey. You can choose to absorb the GST, pop a flat 10% price increase on top of your prices, or complete a holistic review of all your costs and profit, and then add 10% on to come to your new selling price.
It’s up to you! Join me in a deep dive into how you can approach your own repricing.
Remember, repricing after registering for GST can feel overwhelming, but with a clear plan and a strategic approach, you can navigate this transition smoothly. Make sure you take the time to understand your costs, calculate the GST component accurately, and ensure effective communication with your customers. By being proactive and flexible, you’ll be able to adapt to the new GST regulations while maintaining a positive relationship with your clients.
PREVIOUS EPISODES MENTIONED:
- Profit strategies: How to manage your money right
- Pricing for profit (and mistakes to avoid)
- Do your (Tax) invoices say the right things
- Download our FREE pricing calculator here!
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