August 9, 2005
- When is the right time to raise your fees?
Yet, if you retain clients over the long term, raising fees will become an important issue over time. It's best to raise fees in a consistent manner, either every year or every two years. It's also best to raise them by a fixed amount in these increments.
March 29, 2005
- Sometimes, a lot of money still isn't enough!
One of the greatest benefits of having your own business is being able to choose who you work with. Just remember that, sometimes, a client will offer to pay you a lot of money- and this still isn't enough. Let me give you an example: recently, I was contacted by a potential client who wanted to find out if I'd coach him. As I usually do, I asked a few questions through email and suggested we find a time to chat briefly by phone.
December 22, 2004
- Range is a good thing.
When you consider pricing your services, consider the fact that "range is a good thing" when it comes to fees. Consider offering different price points for varying levels of individualized attention.
November 5, 2004
- Charitable Donations
First: make sure this group is somehow aligned with your personal or business goals. If it is, it's more likely that your donation will be seen by people you'd like to reach.
October 25, 2004
- Confidently stating your fees
One aspect of fee setting is being comfortable in stating your fees. If you have any doubts about what you're charging, and why- this will be the place were your doubts are likely to become evident to others. If you can't state, comfortably, what you charge, there are two ways around this: first: practice.
October 22, 2004
- Do you set your fees based on your feelings?
When asked about the basis of their fee setting, these professionals will cite all kinds of reasons why they are "worth" the higher fee, or why they are only "worth" the lower fee. Building your fee structure on your feelings is a bad idea, because it's not solid and can change as often as your feelings do. Better, instead, that you take some logical and clear steps for setting your fee: 1) How much do you need to earn in order to be profitable?