The #1 Thing Holding Service Providers Back From Raising Their Prices (and What to Do About it)
Episode 633: Show Notes
We have now done multiple callouts, promotions and launches of the Incubator. We've had hundreds of applications and we’re working with incredible clients inside the program. And if you’re not one of them, you should be! If you’re scared to start a conversation with us, you need to get rid of that feeling right now because we are really not scary at all. You can literally ask us anything, we have no boundaries when it comes to helping our clients. We’re here to help you change your business for the better, so don’t waste any more time stuck where you are!
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The #1 Thing We See Holding Service Providers Back From Raising Their Prices
If you're at a point where you feel that you have to radically change your clients in order to increase your prices, we’re calling you out in this episode. We 5x’d our prices seemingly overnight, and we want you to envision what it would look like to raise your prices and not have any major blips in your ability to sign new clients because trust us when we say it is possible! A big lesson we’ve learned over our years in business is the importance of getting out of our audiences’ pockets, and we want you to adopt the same mindset when it comes to your clients.
Inspirational Client Stories
We had a client who was doing a variety of copywriting tasks and charging a flat rate. When she did an audit on how much time she was spending on the tasks, she realized how little money she was actually making per hour. After raising her prices for just one of her recurring clients, and letting go of the ones who were paying pennies, she completely replaced her previous salary! Another client of ours took on a major 6-month job in the safety and emergency management space, and although she was terrified of raising her price for an additional piece of work they needed, her client didn’t even bat an eyelid! You shouldn’t be measuring your success on the number of clients you work with; quality is far more important than quantity.
The Danger of Making Assumptions
We’ve all done it; we make assumptions about what our clients are willing to pay, we think conversations about raising prices are going to be awkward and uncomfortable and we’ll lose clients as a result. Why do we do this? Because of fear and anxiety. Anticipatory stress is paralyzing and we have to be able to look at it and understand where the response is coming from, and then address it head-on, even though we may be tempted to avoid it. You’re going to continually be facing so many different choices in your business, and as we have learned from experience, the best discoveries will usually be found on the other side of fear! Regardless of where you’re at on your journey of making a decision about pricing, we encourage you to just take the next step and sign up for the Incubator!
Quote This
Some of you are charging flat rates and then working for pennies on the dollar because you’re just not facing reality.
Highlights
The #1 Thing We See Holding Service Providers Back From Raising Their Prices. [0:16:55]
An Inspirational Client Story. [0:25:16]
The Danger of Making Assumptions. [0:28:46]
ON TODAY’S SHOW
Abagail & Emylee
The Strategy Hour Podcast
We help overwhelmed and creative entrepreneurs break down their Oprah-sized dreams to create a functioning command center to tame the chaos of their business. Basically, we think you’re totally bomb diggity, we’re about to uplevel the shiz out of your business.
KEY TOPICS
Business Books, Pricing, Change, Overcoming Fear
