Bookkeeping

Plus Associates Bookkeeping Inc.; Ottawa; On-site; CAD 60,000 - 80,000; Full time

Job description

You're Undercharging — Here's How to Fix It — Read more

You're Undercharging — Here's How to Fix It

Let’s talk about one of the biggest silent killers of small business profits: undercharging.

At Plus Advisors, we’ve worked with countless Ottawa business owners who are delivering incredible value but not charging what they’re worth. Whether it’s due to fear, market comparison, or simply not knowing their numbers—undercharging is more common than you think.

And here’s the thing: undercharging doesn’t just hurt your bottom line. It leads to burnout, cash flow issues, and the inability to grow or reinvest in your business. But the good news? You can fix it—and it starts with getting clear on your finances and your value.

Why Business Owners Undercharge

Here are a few common reasons we see:

• Fear of losing clients: “If I raise my prices, they’ll leave.” (Spoiler: they probably won’t if they value you.)
  Imposter syndrome: Not recognizing the full value of your skills, experience, and results.
• Market comparison: Trying to compete on price instead of value.
• Unclear financials: Without solid books, many entrepreneurs don’t realize how little they’re actually profiting.
  
  

Sound familiar? Let’s walk through how to fix it.

Step 1: Know Your Numbers

You can’t price confidently if you don’t know your break-even point.

What’s your true hourly rate after expenses? How much do you need to charge per product or service to cover your overhead, pay yourself a salary, and build profit?

This is where clean, accurate books are your best friend.

At Plus Advisors, we help clients:

• Understand their true cost of service
• Identify low-margin offerings
• Track time vs. profitability
• See where price increases will have the most impact
  

Clarity = Confidence. Once you know the real math, undercharging becomes a conscious choice—not a blind guess.

Step 2: Reposition Your Value

Your pricing should reflect the outcome you deliver, not just the time it takes. Are you helping clients save time? Grow revenue? Avoid costly mistakes? Those are valuable results—and your pricing should reflect that.

Don’t be afraid to:

• Showcase testimonials and outcomes
• Offer packages or value-based pricing
• Stop charging by the hour
• Educate your clients on what makes you different
  

Pricing isn’t just numbers—it’s storytelling.

Step 3: Test, Adjust, Repeat

Pricing isn’t set in stone. Start with a small increase for new clients or packages. Use a tiered structure. Track what happens. Refine.

We often tell our clients: the right clients don’t leave when you raise your rates—they value you more. And if some drop off? That just created space for better-fit clients who value your work.

Final Thoughts from Katryna

As a business owner myself, I get it. Raising prices can feel uncomfortable. But undercharging keeps you stuck—and you deserve to run a business that supports your life, not drains it.

If you're not sure where to start, Plus Advisors can help you break it down step by step. From identifying hidden costs to creating sustainable pricing models, we give you the numbers and the strategy to grow with confidence.

You don’t need to work more to earn more. You just need to charge what you're worth.

Need help reviewing your pricing strategy?
Let’s talk. Book a free discovery call today and we’ll help you find the money you’re leaving on the table.