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  • Writer's pictureMadilynn Beck

Fill Your Own Stocking.

If you're rockin' around the small business tree this season, we see you. We know the endless effort is real and the slopes of entrepreneurship come to a point when you've gotta take that leap and raise those rates. We want to give you the gift of strategy. Why? Because we love you, you love you and increasing your rates is not just normal but downright necessary. Plus, we've got the deets on how to do it without losing your cool or your customers.

🪞You're worth it.

First things first, let's talk self-love. You've put in the blood (figuratively) , sweat, and plenty of tears into your business. As your skills, experience, and services grow, so should your rates. Think of it as a power move, a declaration that you value yourself and your craft. It's not just about the dollars; it's about recognizing the immense worth you bring to the table.

Look at Apple's corporate product strategy. They release iterations of the iPhone biannually with 20-30% increase in retail pricing. You pay for it, year after year. Why? Because they continue to improve their product, software and service. They bring you increased value and can only do that if they have increased capital to invest in innovation and growth.

♟️Chess Moves, Chill Vibes

Picture this: you're playing business chess, and you've just upgraded your pawn to a queen. That's what raising your rates is – a strategic move to level up your game. Increased rates not only reflect your growing expertise but also position your business in a different league. Higher rates can attract a premium clientele, allowing you to focus on quality over quantity. It's not just about making more money; it's about making smarter money.

🧠The Psychology of Value

Ever noticed how people tend to associate higher prices with higher quality? It's like the psychology of pricing magic. By upping your rates, you're subtly telling your clients, "Hey, my services are top-notch, and you're investing in the best." It's a win-win – they get elevated value, and you get the recognition you deserve.

📢Communicate Like a Pro

Alright, now that you're psyched about the idea, let's talk execution. Communication is key, fam. Be transparent with your clients about the rate hike. Shoot them a friendly email or schedule a virtual coffee date to explain the changes. Break it down and use my personal trifecta of human communication; DHR (Direct. Honest. Respectful.) Like you're chatting with a friend – let them know about your growth, the enhanced value they'll receive, and the exciting directions your business is heading.

Help your clients understand the reasons behind the rate increase. Break it down in a way that makes them feel like insiders, privy to the behind-the-scenes growth of your business. When they see the value, they'll be more likely to celebrate your success rather than balk at the change.

Doing this you won't need to "defend" your prices because the reason is clearly baked into your straightforward communication.

🍭Sweeten the Deal for Your OGs

Your day-one supporters deserve a little extra love, right? Consider offering your existing clients a loyalty discount or exclusive perks for sticking with you through thick and thin. It's a gesture that says, "You're not just a client; you're part of the journey." Everyone appreciates being "seen" and this intentional benefit will do just that.

In Conclusion: Rise and Thrive

Remember, you're not just running a business; you're creating something bigger than yourself. Embrace the power of growth, celebrate your wins, and let those rates rise like the phoenix you are. It's not just business; it's a lifestyle. Work on replacing "rise and grind" with "rise and thrive". Your success is written – now go claim it! #BossMoves #RateIncreaseRevolution


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