Should I raise my prices?Mar 03, 2023
Should you raise your prices? Heck yes you should!
Probably anyway. 99.99% of the time when a client is asking if they should raise their prices, they should’ve already done it.
Are you at or nearing capacity? Do you have a steady stream of new clients coming in?
If the answer is yes, you’re probably ready.
There is a lot of fear around raising prices, so it’s important to work through the math first.
The biggest concern most business owners have is that they will lose their current clients if they raise prices. Again, 99.99% of the time this isn’t an issue.
Think about what you want your new price to be. Then do some math. What happens if you lose 10% of your clients at the new price? What about 20%? Now 30%?
Most of the time we find that if you raise your prices, you could lose nearly 30% of your current clients and still make more money.
Do you think it’s time to evaluate your pricing? I can help!
Use this link to schedule a consultation.
If you’ve got a question for me, submit it here. No identifying information will be shared.