5 Signs you’re undercharging

Are you undercharging for your services? It can be hard to tell, particularly if you’re in a niche industry, or you’re a contractor. Costs have been rising, so it may be time to rethink your own pricing.

Here are five signs that you might be undercharging:

1. Nobody ever questions your quotes

Do all your new clients accept your quotes or invoices without asking any questions, requesting a breakdown, or wanting a discount? It’s possible they’re delighted to be getting such a great deal.

2. You’re run off your feet, but you can’t afford to get help

When you’re working yourself to the bone, but there’s not enough money left over to employ someone to help you, your prices are too low.

3. Your prices have been the same for two years or more

In most industries, prices increase slightly each year. If you leave your prices flat for too long, you’re doing yourself a disservice, and then if you increase your prices to match others, it’s a big hike for customers. It’s a good idea to review your pricing each year.

4. You’re overbooked

Unless there’s a shortage in your industry, if you’re overbooked and can’t take on new clients, it’s likely you need to raise your prices.

5. Clients don’t treat you as well as they should

If you feel like your clients have more say than you do and that they’re taking you for granted, it could be that they don’t value you because your prices are too cheap. If they don’t see your time as valuable, they’re more likely to muck you around.

What should you be charging?

It can take a little time to find your pricing ‘sweet spot’. Do some research on your industry, ask around and find out what your competitors are charging. We can help with this as we have clients in similar industries so we might be able to give you some indication of typical fees, so give us a call or send us an email.

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How to prepare for the end of financial year

20 February 2025

The end of the financial year is fast approaching, so if you’re balance date/end of financial year is 31 March, there are a few things you need to do to help us prepare your financials. Take a stocktake If your business sells products or has stock, you’ll need to do a stocktake on 31 March. If you’re a business that sells products, then you need to take a stocktake of your physical inventory. If you’re a farmer, then you need to take a physical livestock tally. Send in your EOY papers Compile a folder (digital or hard copy) with a copy of the following documents: Bank statement that shows the balance on 31 March 2025 for all your bank accounts and loans. Insurance invoices. ACC invoices. Loan statements for the year (if applicable). Any new loans or refinancing documents. Invoices for assets purchased and sold. GST workings and reports. Submit the online questionnaire You’ll also need to fill out and submit the online questionnaire. You should receive an email from us in April/May, with a link to fill out and submit the questionnaire. If you haven’t received an email with the link by the end of May, let us know.

Supporting the Heart of Dargaville and Whangārei Communities

17 February 2025

At Gunson McLean we are more than just a business offering financial expertise we also support our communities in Dargaville and Whangārei. By partnering with various local organisations, we help sustain and strengthen sports, recreation, and community initiatives in the region. Empowering Local Sports Clubs We understand the role sports play in bringing people together, promoting teamwork, and supporting youth development. We are proud to sponsor the Old Boys Marist Rugby & Sports Club, Hikurangi Rugby Football Club Inc, Maungakaramea Hockey Club, Maungakaramea Bowling Club, Mid Western Rugby Squash Club, Kamo Rugby & Squash Club, New Zealand Vikings Rugby Football Club Inc., and the Cobham Cricket Club. Promoting Outdoor Education We also believe that outdoor education is essential for youth development and are proud to work with the charitable trust, Pātaua Outdoor Education & Recreation Trust (POERT). We have been closely involved in the Trust’s activities for the past 8 years – handlings its financial matters – and Craig Gunson is the current Treasurer. Backing Community Halls & Facilities We’re proud to support the Whareora Hall Society and Whareora Cemetery Board as well as local cycling and motorcycling groups Marsden Wheelers Cycling Club Inc., and the Whangārei Motorcycle Club. We are passionate about the causes we support, and the opportunities and growth this enables in our Dargaville and Whangārei communities.

Optimise your business by taking care of your employees

7 February 2025

Most people agree that optimising your business is a good idea and spend hours looking at optimising the supply chain, storage, overheads etc. However, they forget that people are one of the most critical elements in your business. By providing a caring, supportive workplace for employees you also drive the success of your business. Studies show happy workers are productive workers and, as an employer, it’s a no-brainer to provide a workplace where employees feel valued, and where they can flourish. Here are five key ways to build employee relationships, nurture your team, and create a great workplace for your employees: 1. Invest in your employees This doesn’t mean ‘casual Friday’s’ or a pizza night once a month. This is about offering your employees access to training programmes, workshops, conferences, and mentorship programmes. It’s about the professional growth of your employee and how you can enhance their skills and make them feel truly valued as team members. 2. Create a positive work environment Creating a positive work environment is about cultivating a workplace culture that feels positive and supportive of your employees. Be open and transparent with your employees, listen to their feedback and have a strong focus on employee wellbeing. This could include offering flexible working arrangements, benefits such as health insurance, and other perks. 3. Recognise and reward your employees When an employee goes above and beyond, make sure your recognise and reward them. This could by through a performance bonus, employee-of-the-month programmes or even extra time off in lieu. Feeling valued comes partially from feeling rewarded and can be an amazing motivator. 4. Give employees autonomy One of the key ways employees feel trust, is by being given autonomy. Being trusted to come up with their own solutions, processes, and ideas is key to making people feel as if they ‘own’ their role. This helps employees feel fully involved and also brings new ideas, solutions, processes, and efficiencies to the table. 5. Put wellbeing at the heart of your culture Life is stressful. And work-life can be stressful. A well though out wellbeing programme can help your employees manage stress and, in turn, benefits your business. A wellbeing programme is different for each business but some ideas could be checking in with team members, creating a ‘ask for help’ culture, flexible working arrangements including work-from-home days, and offering mental health support. Making sure you’re a caring and supportive employer is vital to your business strategy. With a team who feel valued, nurtured, and encouraged, you’ll all be happier and more productive.