Why command higher rates when it’s so much easier to be “reasonable” or “surprisingly affordable?”
Here’s why: raising your rates makes you look better to your customers. It also helps you achieve better outcomes.
So, instead of thinking that keeping your rates low is doing your clients a favor, consider this: raising your rates is better for everyone involved, including your client.
Raising your rates will:
– Boost the perceived value of your offerings
– Empower you to achieve better results for your clients, and inspire your clients to get the most out of working with you.
– Help you grow your business without running into as many cash flow issues.
Without further ado, let’s dive into how to raise your rates painlessly…
Is your business getting these 8 essentials right?
Take the Assessment to Find OutHow to Effortlessly Raise Your Rates and Get Better Clients
#1 Develop a brand
If you’re just some Joe Shmo that no one’s ever heard of, you might have a hard time commanding higher rates.
But if you have a beautifully designed brand, clear messaging, and a strong position in the market with a gaggle of raving fans, everyone will expect you to have higher prices, because you know your stuff.
#2 Stop squirming
Instead of apologizing for charging money, get in touch with exactly how you’re helping your customer.
You offer something someone finds valuable. Why apologize for what you’re offering?
Practice saying what your rates are out loud — to real people — and get comfortable with this being your new status quo.
Feel it. Own it. Which brings us to our next point…
#3 Know your worth
Take a moment to consider how far you’ve come in your career, and to appreciate all the knowledge and experience you’ve gleaned along the way.
Secondly, think about all the people you’ve helped with those skills, and all the pain you’ve helped them avoid.
Once you understand the true value behind your skills, you’ll feel like it’s your right to charge more (because it is.)
#4 Be willing to walk away
What’s it worth to you?
Desperation is cheap. If you’re eyeballs deep in a bunch of other work, not landing this new client isn’t going to break you.
Even if you’re not drowning in work, remember this: you can stay busy servicing low-paying clients, but it will prevent you from having space to seek out higher paying clients more worthy of your time.
#5 Start high. It’s always easier to come down in price
When you’re pricing a new client, write down the number that feels right. Good. Now, increase it until it starts to feel uncomfortable.
Congratulations, you’ve found your perfect quote.
When entrepreneurs start pricing uncomfortably high, they’re often surprised at how many clients easily say “Yes” to this number.
Furthermore, when a potential client pushes back and asks for the price to be lower, you’re still going to end up at a price that feels right to you.
It’s a Business, Not a Race to the Bottom.
Keeping prices low is for harshly-lit big box stores, not for your brand. The sooner you get comfortable raising your rates, the better for everyone — including your clients.
By raising your rates, you’ll land more qualified clients who see your value, and you’ll no longer have to fight perceptions that you’re an expendable commodity.
If you’re ready to take your small business to the next level, apply for a free discovery and strategy session today. Together, we can empower you to build a business that works for you — because staying the same is costing you way too much.
