How to Set and Raise Your Rates: A Woman’s Guide
Do you charge the right rates, and raise them at the right times?
Does your income depend on what you charge your clients?
Are you a therapist, coach, graphic designer, consultant, lawyer or other professional charging your clients fees for your services?
Do you need to make more money from your business, but feel overwhelmed by the idea of telling clients about a new, higher rate?
Are you afraid you may lose clients if you charge more?
Are you frustrated when clients cancel, but nervous about what could happen if you actually charge a cancellation fee?
It might not seem like it on the surface, but service-based businesses are expensive to run. Sure, start-up costs can feel quite manageable. And you may be working out of a home office and have very low overhead. But all you have to “sell” is your time.
When all your income comes from selling your time, it is very important to sell your time for the right amount. If you give your time away or at too low of a price, you will not make enough money to stay in business. That’s underearning at its worst.
How do you know if you are underearning?
If you…
- Charge at the low end of the pricing scale for your industry…
- Fear raising your rates would make you appear greedy…
- Haven’t raised your rates in more than two years…
- Regularly discount your rates…
- Charge clients for less time than you really worked…
- Have clients telling you to charge more…
- Are affordable to everyone…
- Feel overworked and underpaid…
Chances are, the answer is yes.
The fact is…women undersell themselves all the time. But you don’t have to keep on underselling yourself.
Countless research points to the same results for women: You should — and could — be making more!
When left to ourselves to determine how much we should charge, we pay ourselves at least 20 percent less than we would pay other people.
(For a fascinating look at the current research on this topic, see “Women Don’t Ask: Negotiation and the Gender Divide” by Linda Babcock and Sara Laschever.)
When we think about how much our services are “worth,” we rarely think our services can command as much as is really possible.
The keys to maintaining a healthy business involve setting the correct fee, as well as raising your fee regularly.
But exactly how are you supposed to know how to set or raise your fees? Especially without alienating your valued clients?
How to Set and Raise Your Rates
To help you understand the answers to these questions and how to use them in your own business, I wrote How to Set and Raise your Rates. This workbook is 77 pages packed with specific, detailed worksheets, exercises and explanations.
As you work through the exercises and worksheets, you’ll learn to
- Set the right rates in the first place,
- Know when and how to raise your fee, and
- How to communicate this increase easily to clients.
“
Feedback about How to Set and Raise Your Rates
I found this workbook very helpful! I particularly appreciated the examples on what to say when raising rates and setting a cancellation policy. It is funny, as a trained therapist, I feel like I should know exactly how to handle those situations, but that is not something on which we ever receive training. Thank you— this workbook makes rate setting and communication of rates so much less daunting.
Dr. Jane Tornatore, Psychotherapist”
How to Set and Raise your Rates explains
- The right way to research your competition’s rates p.19
- How to find your “break even point” p.30
- The 50 Percent Rule: A simple profitability formula p.35
- The number of hours you can really bill each week (hint: It’s not 40!) p.40
- How to keep from discounting your prices p. 52
- Creating pricing and cancellation policies p.53
- Includes an easy-to-customize script for dealing with price resistance p. 56
- How to talk about price with clients in a comfortable way p. 60
“
Feedback about How to Set and Raise Your Rates
Since reading Mikelann Valterra’s workbook, I’ve made up my mind to quit waiting until I have more education and/or experience in my business. I’m going to believe that I’m worth it now and act accordingly. This workbook is a great resource and one I’ll refer back to often. It’s easy to read and gives specific action steps I can take. All women in fee-for-service businesses will find it extremely useful!
Cathy Fullerton, Investment Real Estate Specialist”
Also covered
- 7 reasons to charge at the top of the range for your service
- Transitioning from salaried to self-employed
- Full time vs. part time work
- The psychology behind pricing, and what message your fee conveys to prospects
- Value vs. price, and what happens when we compete on price
- Special situations: giving your time away, working with friends
- How to use the The Value-Price Equation to have clients happily paying your new fees
“
Feedback about How to Set and Raise Your Rates
Mikelann knows how to make learning about financial information fun! This easy-to-read book gets at the heart of money issues impacting women in business. The information is presented in bite-sized pieces, integrated with helpful exercises that really work and apply to every type of service business. I’m recommending this workbook on rate-setting to all of my clients and colleagues.
Whitney Keyes, PR and Marketing Consultant, Whitney Keyes Productions”
How to Set and Raise Your Rates. Click here now to get your copy — Because working through the step-by-step exercises in this 77 page Workbook will help you:
- Set the right fees in the first place
- Understand exactly when — and how — to raise your fees
- Easily communicate your rates to your clients
“
Feedback about How to Set and Raise Your Rates
I wish I had met Mikelann 15 years ago when I started out in business for myself. She has changed my life by making me take my business and myself much more seriously. I have used several of the strategies in this workbook and the results are already in my bank account.
Anya Jepsen, Communications Coach”
Get How to Set and Raise Your Rates Right This Minute!
Click here now for instant access to the downloadable PDF for only $47.00
I’ll Print it Out For You
Click right here if you would like me to mail you this workbook (by snail mail! Yes, that’s right, I’ll go to the post office for you, if you would prefer to get the printed hardcopy — yes, it will take a couple of days for it to arrive by mail — but you don’t have to print all 77 pages yourself, either! Go for it! )
Click here now to have the workbook printed for you and sent to you by mail. $57.00
Own How to Set and Raise Your Rates
Get the downloadable PDF right away $47.00
Order the printed workbook sent to you by mail $57.00