Elevate Your Business with a Price and Profit Audit: A Roadmap to Strategic Pricing and Growth

Do you feel like your pricing might not be hitting the mark, or wonder if your services are truly aligned with your income goals? You’re not alone. Getting the right balance between pricing and profitability is a common challenge for many accounting and bookkeeping professionals. That’s where a Price and Profit Audit comes in. This audit isn’t just about crunching numbers it’s about creating a sustainable and profitable business that supports your lifestyle and goals. In this post, I’ll walk you through how a Price and Profit Audit can help you assess your current offerings, boost your profitability, and refine your pricing strategy.

Why a Price and Profit Audit is Essential for Your Business
It’s easy to get caught up in the day-to-day work and forget to take a step back to evaluate if your pricing is really working for you. Are you charging enough to support your income goals? Are your services delivering the value your clients expect? A Price and Profit Audit helps you get a clear picture of where your business stands financially. It’s your chance to review what’s working, make adjustments, and align your services with what your business needs to thrive. Think of it as a health check-up for your business one that could lead to bigger profits and more sustainable growth.

My Best Tips for a Successful Price and Profit Audit

Here’s how you can use a Price and Profit Audit to take control of your pricing and boost your business’s profitability.

Tip 1: Set a Clear Income Goal

Before diving into any pricing changes, it’s important to set a clear income goal. What do you need to bring in to support your business and lifestyle? This isn’t just about covering your expenses—it’s about building a business that’s profitable and sustainable. Once you have a clear goal in mind, you can start aligning your pricing and services to meet that target.

Tip 2: Assess Your Client Value

Are your current clients aligned with the value you’re providing? This is a key question during your Price and Profit Audit. Take a closer look at the clients who bring in the most value to your business versus those who may be requiring more time and energy than they’re worth. This step can help you determine whether it’s time to raise your prices or adjust your client base to work with those who truly value your services.

Tip 3: Review and Adjust Your Service Offerings

Not all services are created equal when it comes to profitability. Go through your current offerings and ask yourself if they’re serving both your business and your clients in the best way. Are there services that take up too much time for too little return? Are there offerings that need a refresh or a price increase? By refining your service offerings, you can maximize profitability and focus on the areas that bring the most value.

Tip 4: Know How Many Discovery Calls You Need

Your discovery calls are not just an opportunity to meet potential clients they are the gateway to reaching your income goals. As part of your Price and Profit Audit, review how many discovery calls you’re booking versus how many clients you need to meet your revenue goals. This will give you a clearer picture of whether your current process is working and where adjustments may be needed to hit your targets.

Tip 5: Track Client Profitability Over Time

It’s important to monitor the profitability of your clients over time. Sometimes, client needs change, or what was once a profitable service can become less so. Keeping an eye on which clients consistently contribute to your income goals and which may be draining resources is key to long-term business success. By tracking this data, you’ll be better equipped to make strategic decisions whether that’s adjusting services, raising prices, or even letting go of clients who are no longer a good fit.

FAQ

Q: How often should I conduct a Price and Profit Audit?
A: Conducting a Price and Profit Audit quarterly is ideal. Regular audits help ensure that your pricing and services stay aligned with your income goals, and they allow you to make necessary adjustments as your business evolves.

Q: How do I know if my pricing is too low?
A: If you’re consistently feeling overworked and underpaid, or if your services aren’t generating the income you need to reach your goals, it may be a sign that your pricing is too low. A Price and Profit Audit helps you take a closer look at your current pricing and make adjustments based on the value you provide and your income goals.

Q: What if I’m nervous about raising my prices?
A: It’s normal to feel hesitant about raising your prices, but remember if you’ve built a strong relationship with your clients and are delivering high value, most will understand and appreciate the change. A Price and Profit Audit helps you approach pricing adjustments with confidence, knowing that you’re charging what your services are truly worth.

Whenever you’re ready, here’s how I can support you on your journey:

📚 On-Demand Trainings – Browse my collection of guides, and planners designed specifically for accounting and bookkeeping professionals. Whether you're fine-tuning your pricing, improving profitability, or attracting better clients, you’ll find the practical resources you need ready when you are.

👥 AccountingPro Insider Club – My monthly mentorship membership for women in the accounting and bookkeeping industry. Get access to live weekly office hours, ongoing training, live workshops, brand-as-your-own content, and a supportive community focused on pricing, packaging, and profitability.

💬 1:1 Personalized Mentorship – For women ready to dive deeper, I offer a limited number of private strategy sessions to map out your offers, pricing, and next best moves. Perfect if you want personalized insight and a fresh perspective on growing a sustainable business.