Breaking even

Section 3 : Setting the right prices

Pricing your products or services effectively is another important element in reaching your break-even point. If your prices are too low, you’ll struggle to cover costs; if they’re too high, you risk losing customers. To find the right balance, consider your costs, the value you offer and what competitors are charging.

Don’t be afraid to adjust your prices if needed. If your costs increase, a slight price increase may be necessary to maintain your break-even point. Alternatively, if raising prices isn’t an option, look for ways to add value to justify your current pricing. Effective pricing ensures you’re covering costs and making progress towards breaking even.