Are you ready to charge what you’re worth?

Do you ever wonder how the average pricing for your industry was set? Pricing your professional services is a sensitive topic. Your fees reflect your relationship with money.

Core values frequently conflict with a desire for more money. This causes entrepreneurs to undercharge. Their thoughts go something like this: “If I become too successful with too much money, then I would change and not be the same person.” Basically, your income will remain constant until you’ve resolved this clash.

Take the challenge

Consider the possibility of doubling or even tripling your rates. Notice what thoughts arose. Were they positive or negative?

Any resistance may be due to an underlying belief that clients will not pay more than your current fees. Or you may lose clients if you raise your rates. Or admitting you would not afford to pay those new fees so why expect anyone else to pay that price.

Here’s a five step process that helps you connect to your value.

  1. Clarify. Clarify your beliefs related to money and wealth. Are they positive or negative? Is there a difference between money and wealth?
  2. Identify. These thoughts affect your outlook and your actions. Identify which specific thoughts may improve your cash flow and which hinder profitability.
  3. Explore. Consider alternative points of view. Write down as many different perspectives as you can.
  4. Highlight. Highlight the ones you find appealing. This will help you create choices.
  5. Release. What would you have to let go of in order to raise your fees? How would greater cash flow make a difference?

Letting go of old beliefs is very difficult. Instead consider embracing a new and different belief.

Learn from children

Children are like this. They don’t break habits; they create new ways of doing things.

Sharing your new rates can be uncomfortable. So I teach my clients a simple strategy. First practice stating your new fees aloud. Either do this with a partner or in front of a mirror.

The big gulp

Use the big “gulp” technique. Take a big gulp of air before you tell your new fees to a potential client. Then quietly wait for a response. Getting your first client at new rates is scary and exciting.

This is one way to increase your income without working more. Your business will change. You already are a success. Adjust your fees so they reflect your true value.

 

Loren Fogelman, is founder of Business Success Solution. An internationally recognized business success coach, Loren helps business owners double their income working half the time. Claim your free Get Paid What You’re Worth book at BusinessSuccessSolution.com/worth

 

 

 

 

Sign up for a free trial with Iris Works!

Share this post with your friends:
Categories: BusinessGuest Post

Related Posts

Marketing

Make Your Website Standout from the Competition

A client gives your business card to a friend and tells them to check you out. They go online, google your name, and up pops your website. What are they going to see? If you Read more…

Guest Post

How Should You Photograph the American Flag

This is a guest blog post from Tiffany Stoner, co-owner of Nathaniel Edmunds Photography, regarding the importance of flag code and photography. Given the significance of Independence Day, it couldn’t be a better day for Read more…

Business

Nail Your Wedding Consults

So you got a wedding inquiry and scheduled a time to meet with the bride… Now what? Consultations are what will be the determining factor of whether the couple chooses to book you. So it’s Read more…