How To Define The Value of Your Service – And Adjust Prices Accordingly

Are you undercharging your clients because you’re too worried about increasing prices?

Tackling the price increase conundrum is pretty scary business.

With these three tips, you’ll build the courage to do it.

Tip 1 -Calculate the True Worth of Your Service

Are you charging based on what your service is actually worth?

Or, are you charging based on what you think the client will pay for the service?

There’s often a big difference between those numbers.

Calculate the value that your service or intellectual property offers to the client. Get it down on paper so you can demonstrate it in your next meeting.

That’ll give you the courage to make increases to align the price with the property’s actual worth.

Tip 2 - Leverage Your Past Successes

If you’re looking to increase prices, it’s pretty safe to assume you’ve worked with the client for a while.

Use that to your advantage.

You can leverage your past successes to improve your courage. You’ve already provided what the client wanted at least once before.

Now, they’re going to have to pay a little extra to get the same again.

It’s likely that the client would rather stick with a proven success than take their chances with another firm.

Tip 3 - Find What Makes You Different

Your firm isn’t like every other firm.

You have something that sets you apart. Now, this will differ from firm to firm. You might have a specific service that other firms don’t offer. Or, you may be a leading authority in a certain niche that will benefit your clients.

I want you to brainstorm all of the things that you offer that no other firm can provide. 

Take courage from the fact that you offer something unique and valuable. Then, use those differences to ensure you stand apart from any other firm out there.

Regards,

Rob

How might using these tips affect your financial performance?

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