Rate-setting Tip: Set Your Rates Based on Results
I did an all day seminar on How to Set and Raise Your Rates, and have been thinking about the feedback. (The next seminar is November 9th in Seattle.) People loved learning the formulas and the true cost of discounting etc. (This stuff is just not taught!) But I love this comment:
One of the biggest benefits I went away with is the realization that I have been setting my rates based on MY perception of what I’m giving (which seems so simple to me), rather than charging my clients for THEIR benefits or results received. What an eye-opener! That awareness, alone, gives me the confidence to raise my rates and to quote them to prospects and existing clients with my head held high!
Don’t charge your clients for what you are doing. Charge them for the results that they get. You may be quite used to your work. It might even be simple and easy to you! If you charge according to what you do, your rates might be all over the place, depending on how you are feeling. But what do they get from working with you? More peace and less stress perhaps? That is worth a lot of money. Charge for the results you deliver- not for how you do what you do. (By the way, I just put up www.ratesettingtoolkit.com.)
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