Can You Charge More?
© 2006 - 2009 Kendall SummerHawk
Can you charge more? In a word, yes! Under charging is a chronic problem among professional service business owners. But how do you know for sure if YOU'RE afflicted with it?
Here are six clues that will tell you, clear as day, if you can comfortably and easily charge more, starting now.
Clue
#1 You have no time to market because you're too busy serving clients
No ifs, ands, or buts, if you're this busy then it's time to raise
your fees. Be prepared to lose the bottom 10 percent of your clients,
which is a good thing!
Why? Because you'll make room for more profitable clients, and the marketing it takes to position yourself and your brand as the "go to" business in your area of expertise.
Clue
#2 Your prospective clients compare you to someone else
Ouch! If you're clients are price shopping then you're positioned
as a commodity. That's the kiss of death for creating more money,
time, and freedom in your business.
Do not hesitate—raise your rates right now! Then get busy focusing your potential client conversations on value, not price.
Clue
#3 You haven't raised your rates in more than six months
Old rates means old thinking. Raise them now, and notice how you
instantly step up into the kind of person who knows they're worth
it!
Clue
#4 You're hearing "no" from prospective clients
At first blush, this may sound like a clue to decrease your fees
but really, the opposite is true. Why? If you're hearing "no" then something is out of whack. You're either marketing to the wrong
type of client or focused on features and process instead of results
and value (which is usually the case).
Here's what you can do: list ALL of the results you help your clients achieve (aim for a list of 30). Make sure at least half of the results on your list are tangible or measurable (yes, even if you offer softer services such as life coaching you can do this!). Stay focused on results and your clients will automatically see the value in what you do.
Clue
#5 You're hearing "yes" from practically every prospective
client
Hearing "yes" more from more than 80 percent of your prospective
clients means you're a bargain and they know it. Now, I don't know
about you but I would much prefer to take advantage of a bargain,
not be the bargain being taken advantage
of!
Unless being a low-priced service fits with your brand, you know what to do—raise 'em!
Clue
#6 You know in your gut your rates aren't where they should be
Trust your intuition on this one. You know in your gut that your
fees are too low because they just don't sit right, do they?! That
feeling is trying to tell you something and that something is that
you are worth more!
You'll never know if your price is to high until you test it. I know that can sound like a scary concept but one thing I can guarantee is that when you raise your fees you also create a new space for yourself to step up into. We've all heard that nature abhors a vacuum and will seek to fill it. In this case, the vacuum you will create by raising your fees will be filled with a new level of confidence and clarity about your own self-worth and your value to your clients!
About the author:
Kendall SummerHawk, Million Dollar Marketing Coach, delivers smart, savvy ways entrepreneurs can turn their hectic business into a smooth-running, fun, 6-figure money-making dream. To learn more about her book, Brilliance Unbridled, and sign up for more FREE tips like these, visit her site at http://www.kendallsummerhawk.com
NOTE: You are welcome to “reprint” this article online as long as it remains complete and unaltered (including the “about the author” info at the end). I would also appreciate a copy of your reprint sent to kendall@kendallsummerhawk.com