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How to Approach Raising Your Rates!

One of the perks of being your own boss is that you get to set your rates and give yourself a raise whenever you desire… but you may be wondering how to approach this! Watch this video to learn how to discuss raising your rates with clients, one mindset shift that can help you feel more confident, and the best time to increase your rates!

3 Tips For Raising Your Rates

1. Know that good bosses look out for their people.

Any decent manager is going to look out for their people and fight to increase their rates over time, because that only reflects the value someone has gained from more experience. So while these conversations may not always be comfortable, they are your right AND responsibility as your own boss!

2. Demonstrate how your value has grown.

Share with your clients the ways in which you’ve grown throughout the year, new certifications you’ve earned, and efficiencies you’ve gained. That way, they’ll be able to clearly see how your new rates reflect the added value you provide.

3. Give clients a heads up.

While there is no single time that you can have these discussions, end-of-year (around October or November) is a time when everyone starts to wrap up and prepare for the year ahead. It’s a good time to give your clients a heads up that you will be raising your rates in the new year, so they have time to work it into their budgets, discuss any questions, and plan for the coming year.

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