A rate review in fifteen minutes, twice a year
Four numbers, two decisions, one date on the calendar.
Four numbers
Effective rate from the log, billable days from the calendar, annual costs, and the share of work that came from repeat clients. Those four are enough to see whether the rate is recovering cost and whether the pipeline is dependent on one relationship.
Two decisions
Whether the floor moves, and whether the standard rate moves. Nothing else needs deciding in the review. A review that tries to fix process, pricing and positioning at once produces no change at all.
One date
Apply the new rate to quotes issued after a stated date, and honour quotes already issued. This removes the awkward conversation about a project that is mid-flight and keeps the change predictable.
Twice is enough
Monthly reviews turn pricing into anxiety. Twice a year, with the four numbers actually collected, is enough to catch a rate that has drifted below the floor.