How to make a living while you’re making a difference. A weekly show for independent professionals who want to go from six-figures to seven while increasing their impact on the world.
Raising Your Rates
Are you ready to raise your rates?
Talking Points
- Price points
- It can be easier for service providers to raise prices than for people who produce products to raise prices
- Hourly rates vs. price for a project
- Talking to clients about your rates
- How to raise rates with long-term clients
- How to quote per-project prices
- Pricing products instead of projects
- Pricing based on the benefits that you’re providing
- Why you should tinker with your prices
Quotable Quotes
“But for folks like us, it’s actually not that complicated because by and large, we’re not getting bulk discounts on anything, we don’t have, like, a supply chain or anything like that.” –JS
“There’s all sorts of reasons why hourly rates are bad, there’s a couple situations where they can really work, but the thing that I find really difficult with them is you’re inviting your client to speculate about how you spend your time.” –RM
“Folks who bill by the hour usually in their marketing don’t project themselves in a way that’s clear to their buyers exactly what the heck they do.” –JS
“It doesn’t make them a bad client or you a bad consultant, but there are times when you just need to go out and get new clients, new people, experiment with different approaches and learn.” –RM