5 Signs You Need to Increase Your Prices (Even if You’re Scared)
You can always choose to increase your prices whenever you like. Yes, whenever you like!
You don’t have to wait for a sign from the universe or someone like me telling you it’s time to increase your prices.
But, there are five key signs that you’re ready to increase. Let’s dive in.
#1 You’re getting really booked out.
Being booked out doesn’t necessarily mean that you have millions of clients. What’s your version of being booked out?
When I was doing one-to-one coaching, my “booked out” level was around about 15 clients a week. Other coaches I knew could easily handle 100 clients a week.
Yours is whatever feels right for you and right now, you might feel that you’re feeling a little busy.
Guess what? Pricing is all about supply and demand.
If you have a lot of people clamoring for your services, chances are you can afford to increase your prices a little bit.
It’s natural to be scared.
When I started out every time I increased my prices, I would worry, “No-one’s ever going to book with me ever again. I’m never going to have any more clients. EVER”
The truth is that when you have high demand for your services, the market can bear a higher price.
The bonus is that you’ll work less and either earn the same or more. And you’ll have more energy to give your all to your clients. And bonus, you might have some creative space to write a book or make something that will serve even MORE people.
That’s the first sign you should raise your prices, when you’re getting a bit too busy for comfort.
Is that true for you? Yes or no?
#2 Clients tell you you’re too cheap.
The second sign (and this is a major one) is when you tell people your prices and they respond…
“Oh, it’s so cheap.”
This is particularly true when it comes from potential clients. Nobody wants to be too cheap.
When you hear that repeatedly, take it as a massive sign that people have a different perception than you do around your worth.
I was chatting to someone I perceived as quite famous. When they told me their prices, I thought, “That doesn’t feel like a good energetic match. I expected you to be a lot more expensive than that.”
It made me second guess their ability.
If people are telling you that repeatedly, listen to them and ask yourself:
“Is my pricing a detriment to my brand?”
Remember pricing is not simply the cost of your time, or cost of goods sold.
Perception is a huge part of where you position yourself in the market, and WHO you want to attract.
So, are people saying things like “Oh, I expected it to be a lot more than that,” it could be time to take action and increase your prices…
#3 You’re attracting PAINFUL clients.
If you’re getting a lot of pain in the butt clients who are constantly complaining, trying to negotiate on price, nit-picking with you over different things, and generally making your life hell – that is a HUGE sign that you’re an energetic mismatch to your current pricing.
It’s the Universe’s way of forcing your hand.
If you need help with setting boundaries for clients that are asking for the moon, read my advice on how to stop people pleasing and set healthy boundaries around your time and energy. Click here.
You deserve to have clients who gladly pay you for what you do.
When you’re too cheap, (and this is the paradox), you think, “I’m over delivering so much and I’m trying to make it so affordable. Why aren’t they happy?”
It’s not the price. You’re an energetic match to people who don’t appreciate you, because YOU are not appreciating your talents.
You’re just attracting clients who mirror that energy.
A big sign is when you get clients who ask, “Can you give me a discount?” when you know you are already affordable. Clients who ask for accommodations above and beyond what you’re comfortable with. Who overstep boundaries. Who take up WAY more time and energy than your full price clients.
When you charge appropriately for what you do, you’ll attract clients who mirror self-worth back to you.
So seriously, if you’re dealing with pain in the ass clients right now, it’s a huge sign that it’s time for you to upgrade your prices and attract more energetically aligned clients.
If you need help with setting bound
#4 You’re consistently creating amazing results for your clients.
Especially when you create results that have an impact on their income.
This isn’t just for people who teach business or money because you might have a business completely outside of that realm.
Maybe you help people:
- Save time – so they can make more money elsewhere, or spend more time with their family
- Save money – by outsourcing a task or helping them become more efficient with their resources
- Become more efficient in their business by doing something they aren’t good at. Again, time = money.
You might help high achievers to become peak performers; for example, a kinesiologist or a health coach helps people to be the best that they can be, have more energy, have more confidence, break through blocks, etc.
An amazing support person can save time and money, and allow their clients to work in their zone of genius.
That can have a HUGE impact on someone’s bottom line.
If you know that you’re getting amazing results for people and you’re getting better at it, then you deserve to be paid in line with the value and results that you accomplish.
As you get more experience, you’re helping people shortcut their success as well.
That’s a huge sign when you’re getting rave reviews and getting outstanding results for your clients, that you should increase your prices.
Think – “I serve, I deserve,” which is a mantra that I think every entrepreneur should embrace.
I serve, I deserve. Giving and receiving in equal weight.
#5 You want to earn more money.
It’s okay to just decide, “I’d like to get paid more for what I do.” Maybe you already know that you’re an energetic mismatch to your prices and you simply want to earn more. That’s totally ok.
And it’s going to happen regularly over your entrepreneurial journey. Each time will feel scary and it’s normal to think, “Is anyone going to pay this? Am I really worth this?”
Then you settle into it and it feels really good for a while. You feel okay about saying your prices without choking…
As you get even better at what you do, you might feel like you’ve outgrown your pricing again. Totally normal.
So if you’ve been feeling itchy or that it’s time to expand, then DO IT – raise your prices.
That is a huge, clear sign to get out of your comfort zone and go to the next stage.
Nobody else is going to give you permission. You have to claim it for yourself.
Ask yourself what would feel good to charge, even if it feels a little bit scary, a little bit exciting…?
Remember, the same thing happens every time.
You feel scared, you feel like no one’s going to pay it.
You step into it and it’s comfortable.
You attract the next level of client that you want to work with,
You settle into it and then…sorry to tell you that it happens all over again.
You have permission to earn more.
Let’s recap the 5 signs you should increase your prices
Not ALL of these have to be true before you increase your prices by the way… even just one will do.
- You’re booked out. You can’t fit anyone else in because you’re in demand. Increase your prices.
- People keep on telling you, “You’re so cheap!” Take the hint – people have a different perception of you. Increase your prices.
- You get pain in the butt clients that just don’t appreciate you, no matter how much you’re over delivering. Time to increase your prices.
- You’re getting amazing results for people. You’re getting better at what you do. You’re short-cutting your client’s success. Time to increase your prices.
- Because you want to. It’s okay. You don’t have to wait for someone else to give you permission. Go for it.
This can totally be your best month ever in business and sorting out your new pricing is a great place to start.
It’s your time and you’re ready for the next step.
PS: To nail your pricing strategy in your business I’ve got an awesome bonus for you. Change your money mindset (and life) with the exercises and ideas that I share in my Ultimate Guide to Pricing. Get your copy here.
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