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A client who is a highly skilled consultant asked me a question.  “If I raise my fees I’ll lose clients wont I?”

There is no single, right or wrong answer to this question. 

But there are a lot of clues to consider before you raise your prices. 

 

The fee clues are clear to see

Track back over your pre-client conversations. 

Do too many people pay your fee without questioning it.  That’s a clue your fee is too low. 

Conversely, do the majority of people question your fee and won’t pay it?  That’s a clue your fee is too high. 

 

The real answer

I’ve learned over the years that without contrast a fee is either too cheap or too expensive. 

The real question to ask relates to value. 

Until a prospective client sees the value you deliver, they cannot evaluate whether your fee is too cheap or too expensive. 

 

Strategic Fees

Do you know why you choose to charge the fees you do? 

Perhaps you’re new in your sector and are focused on filling your diary.  Or perhaps you have a wealth of experience and deep down you’re worried you won’t get any more new clients if you raise your fees. 

I’ve been in both places. 

I’ve learned that irrespective of where I am or what my fees are, when I consider raising my fees I felt like a fraud.  I didn’t feel worthy of my increased fee.  I heard the voice in my head screaming “no one is going to pay me that”  But then, the first person does, and the next, and the next. 

I’ve upped my game.  I expand.  I learn.  I develop.  I serve.  I step into my bigger boots of brilliance.  I shine.  My clients shine. 

We change the world. 

 

The investment

For clients who are ready to invest, I always let them know that any coaching, mentoring or consulting with me will cost more than money. 

Transformation doesn’t happen on its own. 

They will need to invest their time, focus, commitment and energy to achieve the extraordinary results they wish to create. 

Because breakthroughs happen at the edge. 

 

What is your biggest challenge around your fees?

 

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