Pricing Decisions: Is Your Price Dictated by Your Client Base?

Have you considered raising your rates? Many business owners have and when questioned as to why they don't the response was this:

'I can't raise my fees. My clients and prospects in this area won't pay any more'

I remember a time when I too believed this, but it seems like such a long time ago now that this response really took me by surprise. I wonder if you too, hold the belief that your price is dictated by your client base?

There are many strategies that address both the desire to help those in need and 'premium' buyers in order to build a successful business. One idea for pleasing both groups is to set up different fee structures for different clients and selecting a strong niche market in which to specialise. I can't help wishing I had more time to spend with the members of the group who subscribe to the theory that they were somehow not in control of what they earned....

I guess that most service providers begin because they love what they do and can almost seem surprised that someone is prepared to pay them for their time! In many cases, where your first clients come from is where we tend to believe we fit and will pigeon-hole ourselves in that market and price bracket.

Now that's all well and good if you happen to land a large, corporate contract straight off, but what if you dream of a successful business but are locked into consistently selling your time, expertise and experience at discounted rates? With every discounted client comes a sense of achievement at 'hooking them', however is it also tainted with a sense of desperation or failure - a sense that you are worth more? If this sounds familiar then here is what I suggest you do:

Learn All You Can About Marketing A Service
It is unlikely that you are any less skilled in your craft than those commanding premium fees, what you lack is confidence in how to market your service and attract the right clients for you. My Fill Your Practice Home Study Course is a great place to start!

Boost Your Confidence Daily
Every day, as often as possible, you must challenge the belief that is keeping you from where you deserve to be. Tell yourself you are worth more until you believe it!

Design Your Business To Suit You
Be honest about what you really want from your business and design it to deliver. This is your business and you are selling you; if you do what other people tell you should do, you will be conflicted in yourself which will show in your marketing.

There is always more than one way to achieve your goals, more than one solution to any problem. Until you find the way that you want to do things, your business is at risk of being less successful than you deserve it to be.

Find The Market That Can Deliver Your Dreams
If you have found that the market you currently serve cannot give you the lifestyle and business that you desire and deserve, find one that can!

Now that you know what your lifestyle and business will look like, you can choose a niche market that will deliver it. By learning all you can about marketing your service, you will have the confidence to choose the right niche for you and know how to write sales copy that will have your prospects clamouring for your service.

This does take time as you need to build the 'know, like and trust factor' with your new market, but it does work and the sooner you start, the sooner you will see results.

No excuses! If you are not achieving what you are worth and deserve, then it is in your control to change it.

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