Why You Should Raise Your Rates To Better Serve Your Clients (& 4 Ways To Do It)

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Business Tips For How To Make More Money & Income By Increasing Pricing

Thinking about raising the price of your product is one of the most important business decisions to make when you're running your own company. 

If you want to know how to run a business well, know that raising your rates or prices at least once or twice a year allows you to constantly be in a state of up-leveling your business, annual income, and lifestyle. It actually sets a better example for your clients.

RELATED: 4 Easy Ways To Make More Money For Your Business

However, raising your prices can bring up a lot of inner resistance.

So, business success may sometimes mean getting some valuable expert coaching and mentoring from an expert. 

To help you raise the rates and prices of your product with ease, here are 4 important business tips. 

1. Add tangible extras to your services 

A great way to support raising your pricing and fees is to add tangible extras in your work with clients.

Whatever sort of work you do, you can learn how to create high-value packages and increase your pricing with ease, and adding tangibles is an excellent way to start. 

You can add copies of your books or access to your digital products and programs when you've done some work with clients. 

For example, a website designer could add a quick how-to guide for common website issues. Or a personal trainer could add some recipes, meal plan PDFs, and an e-book.

So, think about what you can add and show your clients that your services are worth it.

2. Release your abundance blocks 

Raising your prices can bring up a lot of inner resistance to money. 

Feelings of guilt, awkwardness or lack of confidence can come to the surface, such as:

  • Will people actually pay that? 
  • What if people get upset? 
  • Won’t people think that you're just after their money or being greedy?
  • You're not experienced enough.
  • What will your family/partner/friends think? 

You deserve to be well paid for what you do and to live in a state of abundance and ease. So, release the idea that it’s bad to receive money or that you should feel awkward about it because it really isn’t. 

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3. Upgrade the value you are offering 

As you raise your prices, it’s essential to also upgrade your services as well, to make sure that you feel confident and authentic with charging more. Otherwise, you’ll sabotage it.

Take a look at your current offerings and see how you can upgrade them to make them even higher value for your clients. What can you add to your services to give them even more value?

Some business mentoring for you is to think about common topics that your clients and customers normally ask about, this will give you a good indication of where you can upgrade your services. 

4. Share content that shows your expertise in your field

One of the keys to comfortably raising your pricing is to reassure your audience or potential clients that you are amazing at what you do and that you deliver an excellent service. 

Instead of simply raising your pricing, work on releasing any inner resistance that comes up, review and upgrade your offers to be of even higher value to your clients and share helpful, inspiring and high-value content.

The key is to share enough that helps and inspires people without overwhelming people or showing them how to do everything without you. 

What content can you start sharing to show expertise in your field? Try:

  • How to’s
  • Mindset tips
  • Q&A’s
  • Advice on the subject that you work with your clients on

If you currently share content, review it and see how you can add in an even higher value. 

Some business mentoring for you: Always encourage people to take the next step with you, either by purchasing a book or program or booking a session or treatment at the end of your content. 

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Joseph James is a business mentor and income coach who focuses on mindset work with practical next steps, advice, and strategy to help clients make changes that are meaningful for them. You can learn more about creating multiple income streams in your lifestyle business in his program 33 income streams for your lifestyle business. If you’d like to discuss private coaching or mentoring, you can send him an e-mail.