Something I hear over and over again from my clients and readers is that they want to know how they can make more money. While there is way more to it than this one column can cover (for the more comprehensive experience, you need this) we can look at one simple thing that will make you more money, fast. Charging in accordance to the value you’re giving for your services, without feeling like a pushy sleazebag.
Remember: You deserve to charge good money for your services!
And it’s likely time for a raise.
When You’re Ready To Raise Your Rates, Do So With Dignity
Be honest with your clients.
Let your clients know what has changed. Maybe it’s your hours, or a new degree, walk them through your updates. The honest, direct approach is almost always best. Help them understand the value of continuing to work with you at the increased rate.
Make sure you give them advance notice. You don’t want anyone making sticker-shock knee jerk decisions. If clients don’t want to continue at the new rate, you have some time to plan for their rolloff.
Stepping stone your pay increase.
You can grandfather in your existing clients (if that feels right to you) and new clients get booked at your new, higher rate. Sometimes that’s a big step because you were charging such small amounts when you started – nothin’ wrong with that! But going from $50 a session to $250 a session might feel too steep. So you can stepping stone your rate increases. All new clients in May, are $175. And come June, that rate goes up to $250 where you always knew it would land.
Now, about feeling good about it. This is huge because if you feel super pushy and are uncomfortable with your new rates, your clients will pick up on that and not buy from you.
Look at the value you’re selling.
Make sure you have to have priced your services fairly, and feel comfortable accepting good money for them. Map out the value of what you’re selling – not just the logistics. What else do they get? Access to you? A Facebook group? A sweet bonus? For example, my clients get not only my services, but those of Maggie Patterson, guest posting expert for online entrepreneurs. I also run a private group with monthly office hours, and maintain an open door policy with our email communication. It’s super helpful when at the end of an intake call when we get down to pricing, because it feels like an amazing deal. I hear this all.the.time. And as a result, it makes it super easy for me to stand behind my prices.
Own your needs
No one get’s into this game for financial instability and feeling broke. We came to provide a service, and to make some green! It’s ok to price your services in a way that they help you meet your financial obligations and fund your dreams, as long as the value is there to back it up.
Work on your money blocks
Get comfortable talking about money, and receiving it. That might mean you have to work on your ‘stuff’. Did you come from a family that never talked about money? That judged rich people? I hear from many clients “Well, I would charge X, but that amount makes me nauseas to say out loud.” If this is you, do some journaling around why it makes you uncomfortable. Then work that through maybe with a coach, and practice saying your new rate out loud until you have no emotional charge around it.
You should be able to say your rates with as little emotional attachment as you say your shoe size.
I’d love to hear how this helped you! Is it time to give yourself a raise?