How Can I Increase My Prices? [Solution Saturday #12]

Hello My Friends, and welcome to another #SolutionsSaturday. In this week’s solution I wanted to discuss something that we have all asked ourselves at times and that is “How can I increase my prices and get paid what I am truly worth?” There are a lot of factors that go into pricing and a few of those I would like to address with you today.

Self-Worth – The first of which is the most important and that is self-worth. If we actually don’t believe we are worth the level in which we are going to charge, it is going to be awfully hard to convince others we are worth that amount. Believing in yourself, in your ability to bring real solutions to your customers, saving them tremendous time and money is a critical first step getting paid your actual value and worth.

Ask Questions – A huge difference between bottom and top earning Freelances is this. Top-earning freelancers ask questions, bottom earning freelancers simply do what there are told. Contrary to what we are told, customers are NOT always right, and while they often know what they want, they may not know what is BEST for them.  With a few simple questions such as, “What are your goals?”, “What pains or problems are you having in your business?” or “Can you explain the entire process of how this solution will work for you?”, can make a massive difference in both your customer’s confidence level in you and your earning potential for that job. Asking questions shows the customer that you truly care about a solution that will work for them, AND it opens up a dialog that will more likely than not expose other areas where we as freelancers can provide more solutions, increase the job price and more importantly bring a lot more value to the customer.

Ask For More – While it seems like the simplest solution it is often the hardest. Sometimes we don’t get more simply because we don’t ask for it. Now of course so much of that is ‘how’ we ask for the additional money. When doing freelance work I would often ask for more while adding great value to the customer. After already asking the right questions as discussed above, I would have a clear understanding of how I could offer great value to the customer. At this point it’s simply a matter of asking for more in context with great value, such as “So by adding these additional features, this will save you thousands of dollars a year and hundreds of hours of labor is that correct?” Then on confirmation from the customer, it became very difficult for the customer to say no when I would follow that up with “Ok great, then I can add these features in for just a few hundred dollars so that is still going to be a fantastic value for you right away” Always remember the customer does not care about your time or effort, whether it takes you two minutes or two week, the customer is only interested in the value that you can bring them. So putting your questions in the context of the value you can bring them along with the benefits that your solution will give them, makes it often difficult for them to say no to great solutions at reasonable prices

I hope these 3 solutions will give you the confidence and tools to increase your prices and get paid what you are truly worth.

Thanks so much,

Randy

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