If you want to earn more, you must ask for more.
Do you offer any type of services in your business?
These include consulting, coaching, copywriting, website design, legal, etc.
Competition today is fierce. Depending on what you do, it may be easy to find ‘low-cost’ providers on Fiverr and Upwork.
If you allow yourself to be seen as just another commodity, forget thriving. You’ll struggle to even make a living.
It can be tough when you’re just getting started. Nobody knows you yet, and you don’t have the track record to prove you can deliver results.
In that case, you may have to go through a ‘hard knocks’ stage. I’ve had clients who offered their first services cheap on Fiverr. They got their first clients that way and developed some experience. Others offered their services low cost to people they already knew in person or on social media.
But once you’ve proven you can deliver results…you don’t want to stay at low cost.
Ask for more. But at the same time, it’s not just about attitude.
Here are 5 quick tips to help you raise your fees.
#1: Package Your Offer
Move away from hourly billing.
Sell based on the results you deliver.
Productize what you do. For example, instead of selling one hour of consulting, turn it into a package. They get the hour with you on Zoom. They get the recording. They also get a video training that shows your related step-by-step system. They get access to your templates. They get 2 weeks of email support for follow-up questions.
#2: Up Your Proof
Proof such as your origin story, case studies, and testimonials increases your conversion of leads into clients. It also enables you to raise your prices.
You’ve proven to deliver the results.
Keep that in mind. People aren’t ‘paying’ for your time. They’re paying for the results you deliver.
The more confident they are in the results, the more you can charge.
#3: Specialize
Bypass the competition. Become the only one who does what you do.
For example, one of my clients is a coach to CPAs who want to scale their firms while working less hours.
He has productized his offer because he offers them a coaching package along with many of the procedures he uses in his own practice and done-for-you services to help them attract new clients.
There are a lot of business coaches out there. But how many business coaches out there only serve CPAs…own their own CPA practice…and deliver a ‘complete’ package to help them grow their firm while working less hours with both done-for-you and done-with-you services?
#4: Upscale Your Clients
This integrates with the previous components of packaging, proof, and specialization.
Target more affluent clients.
When you’re first getting started, you might take anyone who can fog a mirror.
As you gain experience and raise your prices, you’ll want to become more selective.
Who can you deliver the absolute best results for? Who are your best clients who happily pay your fees, brag on you, and refer you to others?
Who are the 20% of potential clients in your market…or even better the top 5% (or 1%)?
How will your messaging change to speak directly and passionately to this more exclusive audience?
#5: Grow Your Audience
You can’t ignore supply and demand.
Specialization reduces supply. There is only one of you and no one else does what you do.
You also want to increase demand.
Get your message in front of your ideal audience consistently.
Build an email list. Appear on podcasts. Publish videos. Write a book.
If you’d like to stop hustling your tail off serving unappreciative, overdemanding clients who pay you peanuts…
Then check out Magnetic Mentoring….
You’ll discover my proven formula to launch a mentoring practice, attract high value clients, and unlock the potential to earn 6 or even 7 figures all from the comfort of your home.
