Take a good look at your market, and decide where you stand in the world of pricing. What are you currently charging and what would you like to charge? Can you charge more than you do now? Of course you can. We all can, but some of us suffer from low price self esteem. Which one of these symptoms do you possess?
I cringe when asked what my rates are.
I often bargain and discount before the person makes a decision?
I feel as if my prices are too low, but afraid that my target will never pay what I require?
I usually give a quote that is lower than my standards?
I find myself working for peanuts and can barley survive?
I often regret or find myself frustrated working for clients that I have discounted?
I am afraid they will not come back if I keep my prices high?
I don’t know what to charge, so I am happy to receive any payment amount?
If you feel like you are holding a “Will Work for Food” sign, I suggest you start to increase your rates by 20-40%. There is nothing wrong with having a premium price, just as long as you are offering premium service. Charging what you are worth means that you know the value of the results you deliver, and you know that you are worth the price you are quoting.
Value is perceived by your prospects and clients, pricing is perceived by you. If you are comfortable with your mid-range, and lower level rates then start to leverage that. Brag about how low your rates are for the value they are going to receive.
Whatever your current situation is, make sure that your pricing fits your concept, your value, and your market position. Replace your “Will Work for Food Sign” with “Under New Management”. Consider changing your internal dialogue to one that supports you financially and ethically, so that you can make more, feel valued and have fun doing what you love. YOU ARE WORTH THE INCREASE.