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Have you been thinking about raising your rates? That can be both exciting and nerve wracking for business owners. On one hand, you’ll produce more income from the same amount of work. On the other hand you may be concerned by the risk of losing clients due to higher rates. While this may be true, there are best practices for handling a rate increase that, if done well, can get you new clients!
Sometimes entrepreneurs struggle with how to price their services. There might be a particular service or segment of your knowledge that you feel has more value. You might have an idea that you should charge more for this piece, but feel unsure whether that is fair. Fabienne Fredrickson shares some ideas on how to look at it.
Setting up a coaching group in your first year as a coach is a great idea! It gives a more affordable rate for clients to access your coaching. They can get an experience of you, and you can receive more income per hour with a group. Karen Capello shares tips on pricing your group coaching programs.
We’ve all heard the advice: You need a list to be successful in biz. And to build a list, you need to offer something for free. Alas, like most things in life, it’s just not as simple or easy as all of that. Michele Pariza Wacek shares 3 steps to building a solid relationship based on trust with your prospects, so they WANT to become paying clients.
While raising your fees sounds simple, women entrepreneurs often get stopped at step one, and all because they get their emotions in a tangle over what is essentially a very easy, practical business action. Kendal SummerHawk shares the first steps to take so that you’re not stuck charging the same fees you’ve always charged, and, so you attract ideal clients who value YOU and the results you deliver.
Knowing your value is an inside job. It is something you have to believe in no matter what anyone else says or does. You can get a lot of advice about what you should or shouldn’t do when it comes to pricing your services. The problem is that everyone is coming from a place of their own limiting beliefs.
Many entrepreneurs express a fear about charging more and the ability to still attract clients. They worry people will not want to pay more, especially if they know what others have paid. Also, for business owners who provide estimates, many wonder if they should lower the price when the prospect doesn’t immediately accept the bid. Fabienne Fredrickson shares her recommendations for handling pricing concerns.
When deciding how to price your information products or services, having lower rates doesn’t always mean you will attract more clients. And, in fact, it can mean the clients that you do attract are not necessarily the ones you want.
We all dream of the clients that sign up for our $10,000 programs the first time they come to our website but we also know that isn’t the likely or common scenario. What is more likely is to establish the relationship and your expertise through smaller programs and then eventually get that $10,000 level. One way to help you do this is by having a well-developed product funnel. Michele A. Scism shares some levels to consider.
Do you struggle with charging a fee for your services, but want to start building your business? Whether you are a coach or a massage therapist, you cannot survive if you give your services away for free. Some first time business owners have difficulty with the idea of earning a good living by helping others. They think they shouldn’t charge right away or if they love what they do, they should give it away. Fabienne Fredrickson shares several essential reasons why you cannot continue this practice of working for free.
Are you wondering if you should raise your rates? If you have been thinking about the pros and cons of a price increase, Fabienne Fredrickson has some recommendations for you.
Are you charging too much? The short answer is probably not, so good luck and have a great day! Really though, what fun is a short answer though without an explanation? Pricing is a tricky subject because in many cases your feelings about pricing are also tied to your feelings of your own value in the marketplace and face it, we’ve all got self esteem issues. Holly Chantal explains that your pricing is a huge piece of your brand.
Offering payment plans to your clients is a smart way to make your premium packages more affordable. Fabienne Fredrickson shares insights on how to implement and manage payment plans for your business.
There comes a time in almost any entrepreneur’s practice when you revamp your programs. Talking to new prospects about the revised program is easy since they don’t know about your previous options. But how do you get existing clients to upgrade? Fabienne Fredrickson recommends taking the following steps to open a conversation about the new program and pricing.
Raising your prices seems like an easy feat. And for some of you it very well might be. But raising prices proves to be a challenge. You aren’t alone! Monica Shah shares three phases so that you stick to your new prices no matter what happens.
Sometimes, your rates are too low and you need to adjust them up to where they belong. Given this situation, Fabienne Fredrickson has two recommendations that can help your clients adjust to the new fee structure.
Fabienne Fredrickson believes that you should have more than one offer, whether it’s a product or a service that you sell. When she offered just one program, people either took it or they left it. Fabienne provides advice on how you can expand your current offerings and make the kind of money you want to make in your business.
Are you having trouble setting your fees? For some, it’s not easy to set a proper fee. Fabienne Fredrickson shares strategies that have really worked for her when she started noticing how much she did not want to become a commodity.
Should you be discounting your services fees. This comes from a desire to attract more clients, particularly when there is a lot of competition or the economy is on a downward trend. In fact, you can attract more clients by NOT discounting what you charge. Usually the reason why more people aren’t hiring you is because they don’t understand the value of what you have to offer or they don’t know about you. Neither is a pricing issue. It’s more about awareness and value, right? My recommendation is to never discount your fee.
There are so many differing opinions on how to set your pricing you could drive yourself crazy if you listened to everyone. Fabienne wants to tell you how she did it so you can use this simple method to see how it will work for you.
Learn 3 quick and easy fixes you can make right now to ensure that your money conversations support you in stepping into your power in life AND in business. Discover them now so that you know how to gracefully and elegantly handle your money conversations with the confidence you desire and deserve.
You have to have a clear message to attract clients. Then, you have to have the right marketing to pull in those clients. Then, you better understand the math game (volume) to make it all work. There is definite strategy to business and without realistic practical plans businesses fail. Read on where I can also share emphatically how those practical plans never get implemented.
Are you still charging the same rates or selling products at the same prices that you were using in 2007? If so, you could be selling yourself short and missing out on thousands of dollars worth of hard-earned profits!
Something hit me like a ton of bricks over the head on one of David Neagle's Recession Rescue calls a few weeks back. His co-coach on this particular call was Suzanne Evans and she said "That which is easiest for us is what we should charge the most for." When she said that I literally stopped in my tracks... because I have been pretty much doing the exact opposite!
Want to encourage people on your email list to buy one (or more) of your products or programs sooner than later? Have a sale! The following are 7 ways that you can provide value to your potential clients/customers and still bring in a profit for you at the same time.
Did you know that HOW you design your client payment plans can make the difference between your prospective client saying, “Yes!” versus muttering, “Let me think about it?” This applies to services, programs and even products offered on your website. So it’s wise to understand what works — and what doesn’t! — so you can make it easy for your prospective clients to say “yes” to you.
Before my business evolved into what it is now, I was trading my time for money, dollars for hours. As a website designer and developer, I charged by the hour. As a writer/editor, I charged by the hour. As a public relations and marketing consultant, I charged by the hour. Do you see the problem here?
Don't work like a dog! Raise your prices and take on less clients. Here are a few things you can do NOW to move in that direction.
Learn three proven reasons WHY your clients will pay top dollar (yes, even in this economy!) for your services.
While the rest of your friends and colleagues may be hemming and hawing about how bad the economy is, smart entrepreneurs are quietly calculating not only how to thrive in these times but dramatically increase their incomes as well!
Wouldn't you want to charge more for your services and get it? Increasing your fees can be easier than you think!
Would you like a piece of GOOD news about the economy? It actually has very little to do with how much you can charge for your products or services.
There is a ritual to raising your fees. First, you tell yourself you can't do it. Then you begin to fantasize about what you would do with the extra money. Finally, you gulp, make your decision and take the plunge. What can help move you through these phases faster and easier is understanding that there are hidden, guiding principles to raising your fees.
The idea of raising your fees may cause you to feel a sudden lump in your throat and your hands to go clammy. Well, have no fear! Here are 4 ways you can pave the way for your clients to comfortably say "yes" when you announce your new fees.
Hands down, the simplest way to make more money is to raise your fees. Oh, I know what you're thinking! "The economy is too iffy to raise my fees. I don't want to lose the chance of getting new business." Here are 5 tips on what NOT to do so you don't unknowingly sabotage your success with the simple strategy of raising your fees.
Embarrassed to discuss your prices? Here are seven common reasons we can't talk about them and tips on how to overcome them.
Money is an emotionally loaded word. After success coaching thousands of women entrepreneurs, I've observed that how we're feeling about money shows up in our decisions and the actions we take.
Uh-oh...it happened again, didn't it? Your prospective client hinted that they may not say "yes" to your offer so you offered a discount...again!
Here are 3 quick tips to make raising your fees a simple, "no big deal", natural step you take in creating more success in your business.
Are you in the cycle of undercharging for your service, resenting that you are not making more money, then feeling guilty?
Here are five clues (plus a bonus clue) that will tell you, clear as day, if you can comfortably and easily charge more, starting now.
Here are 3 things your clients care about MORE than price (hint: focus on over-delivering on each of these and price will rarely, if ever, keep a client from hiring you).
Here are 3 simple ways to charge more and get it, plus feel confident about it!
If you know you undercharge (hey, who doesn't?!) then let me share with you a few pointers.
Wouldn't you want to charge more for your services and get it? Every day a countless army of solo-professionals mistakenly make the price their only competitive advantage and end up selling their services way too cheap. Fortunately, increasing your fees can be easier than you think. But before I share with you a few "how-to" tips, let's first explore what's getting in your way of charging more.