Business
As an entrepreneur, one of the trickiest aspects of business can be raising your rates, even if it’s very well deserved. Today we are not only talking about why raising your rates is acceptable, but how to do it with confidence, and without losing clients! What we’re talking about Business Is Booming It’s All In Your Approach Keeping Your Existing Clients Through A Price Increase Business Is Booming! So, you’ve been consistently working for your same rate, but your schedule is completely full. What do you do? Good news! It’s time to raise your rates! There are many reasons it may be the right time for you to increase your prices including increased demand, more experience, and an expanded service list, just to name a few. But, how do you increase with confidence?! We have all the answers in our episode today, including some freebies you can use to increase your rates with confidence. It’s All In Your Approach When thinking about boosting your rates, the most important parts are your approach and planning it out. If either of those aren’t paid close attention to, it could be a rocky road (and not the kind we like to dip our spoons into!). You want to be sure the communication of your increase is received, acknowledged, and kept in the same manner as you normally communicate with your clients. A little nervous? Don’t be! We’ve got you covered. Keeping Your Existing Clients Through A Price Increase One of the most nerve wracking parts of increasing your prices is wondering how your clients will respond. After all, it’s your clients that have gotten you to this point, right? Show them your appreciation, but be confident. If done with tact, sensitivity, and appreciation, you can pull this off like the pro you are! I’ll read you my price increase letter so you can see what’s worked for me, and put it to use in your own business. LINKS MENTIONED 12 Essential Things To Do Before Raising Your Service Rate (and FREE rate increase checklist) https://andismiles.com/2016/10/10/essential-things-to-do-before-raising-service-rate/ How Raising My Rates Brought Me Closer to My Clients (and FREE rate increase template letter) https://andismiles.com/2016/06/06/raising-rates-brought-closer-clients/ Should You Charge Hourly or By the Project (and FREE perfect pricing spreadsheet) https://andismiles.com/2018/08/27/should-you-charge-hourly-or-by-the-package/ Price Your Products and Services for Profit Workshop https://andismiles.com/money-masterclasses/ How to Set Your Prices So You Aren’t Broke (and FREE perfect pricing spreadsheet) https://andismiles.com/2017/12/04/how-to-set-your-prices/