Earning Tip: Charging more and feeling worth it!

January 16, 2006
Am I worth charging more money?
In the course of coaching, I teach women how to set and raise their rates. I know the theories, the exercises, the philosophy etc behind how to raise your fees, and have done a lot of speaking on this very topic. So it was time to put it to the test. It was time again to raise my own rates! I did the research on what other coaches charged and thought deeply about what I would need to charge to continue enjoying my work and living my life. I went through all the exercises. It was difficult. There was fear. What if I raised my rates and some of my clients left? What if the new fee kept new clients from hiring me? Was I WORTH charging that much money? These questions kept me up a few nights, and I went back and forth. I talked to my husband and close friends about it. (Of course they think I am priceless, which is nice to hear, but not necessarily helpful.) The research I had done helped me considerably, since I knew logically that the fees I charged where not out-of-line, and could even be considered a good deal. It also helped that I was willing to lose some clients in the rate adjustment. (You need to create room for higher-paying clients on top.) But it still came down to worth. Luckily, I’ve sent a lot of time this past year collecting testimonials, and re-reading these helped me tremendously. Hearing the wonderful things that happened in my clients lives helped me believe I was worth the money. And so in January, I raised my rates. I’ll keep you posted on what happens. In the mean time, I have to cook a huge pork roast for my “seven fabulous women” dinner that I am hosting this Thursday! It will help to talk about this with other business women who go through this as well.

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