Raise Your Rates (And Feel Good About It) Have you ever wanted to raise your rates, but fear kept you from actually doing it? You may have had thoughts like: • Who do you think you are to charge more? • No one will sign up because they won’t be able to afford it. • People will think you’re greedy or in it just for the money. • Other _____________ (coaches, practitioners, massage therapists, nutrition counselors, etc.) charge ________. How can you even consider charging more? • If you were really spiritual you would do this work for free! How do we know some of these thoughts have likely gone through your mind as you were thinking about raising your rates? Because we have been there. Many years ago, we raised our hourly coaching rate (to a rate that sounds like a smokin’ deal now)… I stood on stage in front of some of our best clients, offering VIP days. And although I looked confident on the outside, I was trembling inside. I KNEW that working with me and my husband privately would help our clients position themselves like rock stars, attract the exact right clients, create a clear path to get from where they were stuck in their business to exactly how much income they wanted to make…while working less. But suddenly I had the same feelings of insecurity and discomfort that I experienced the first time I raised my fees back when I had only been in practice for a short time… And those same feelings were present the second, third and every other time I had raised my rates... No matter how many times you raise your rates, it’s common to feel uncomfortable and for the feelings of “I’m not ready” to surface. But there comes a time when what you’re charging doesn’t feel balanced with the value you’re providing and you’ve got to raise your rates in order to stay in integrity with yourself and in alignment with your values. Here are 3 Tips to help you raise your rates: Tip #1: Avoid looking to what other people charge to figure out what you should charge. Many of our members initially say, “Other [acupuncturists, personal trainers, massage therapists, coaches, etc.] charge this much; so how can I charge more?” How can you avoid the dilemma of comparing yourself to others? Look for how you can INCREASE the value you offer to your clients rather than be just like everyone else in your industry. When I was pregnant with our first son, my belly got too big to lie face down on the massage table and I noticed I was having a difficult time enjoying a satisfying massage. So, I sought out a therapist with an ergonomically designed cushion for expecting moms like me and was happy to pay the extra dollars for the added value. Ask yourself, “How can I increase the value of what I’m offering? What do I offer that’s unique?” Tip #2: Connect with Your New Rate to find Balance If you aren’t charging enough, you might feel resentful as you’re doing your work. But if you feel like you are charging too much, you might feel greedy. There is a perfect balance that lies somewhere in between. Unless you feel like you can truly own your new rates, you’ll stumble and feel awkward when sharing these new rates with potential clients. To figure out what rate you can confidently own, here’s a short exercise: Imagine you’re talking with a potential client. And say the price you want out loud. Then check in with your body to find out how it feels. If it feels GREAT, you just might have your new price. If it feels anything other than GREAT, you’re not there yet. If you don’t feel anything in your body, don’t worry. Sometimes the new rate just doesn’t have much juice. Also, not everyone gets information from checking in with how their body feels. Some people just have a voice of clarity or inner knowing that it’s right or not right. Just use the best way of discovering what’s right for you when you’re making a decision. At the Client Attraction Summit , we guide people through an exercise to find their perfect rates. We’ve asked for a show of hands and around 95% of the participants give themselves a raise after this exercise--because they get the chance to embody several new possible rates and then allow their intuition to guide them to their new rate that is aligned for them. Tip #3: Be Willing to Feel Uncomfortable for a Short Time After You Raise Your Rates We (my husband and business partner) have always found that whenever we raise our rates, we go through period where we’re not fully comfortable...where we have to adjust to the new rate until it just feels fully comfortable. Here’s how this usually works: First, we feel slightly uncomfortable about our new rates. Second, we justify the increase by thinking about how our clients will get more value at this new rate and how we deserve to be paid well for the great work we do. Eventually, we settle into it as the perfectly aligned rate for us and it seems like it’s always been that way. Remember my story about raising my rate for private coaching many years ago? Well, not one one single client said “Yes!” I could have decided that I had made a huge mistake and should drop my rates back down. Instead, I knew that going through the discomfort of the “adjustment period” was part of my process and if I hung in there long enough, I would eventually feel comfortable and confident. A few weeks later we got our first private client at our new rate. I felt a little nervous just before the initial session, but I showed up with 100% of my energy, now fully aligned with the new fee. And because I owned my value, our client got tons more out of it than if we were charging our lower fee. We haven’t raised our rates for private coaching for years because we feel so aligned with our rates for private work. (It’s all about alignment.) When you feel great about your rates, you don’t question if you should think about raising them…. But if you’re starting to wonder if you are charging too little, it’s time to at least dive in to that question and consider giving yourself a raise. Know that you might experience some discomfort for a short time… Just know this is part of the process of raising your rates (and not a sign you should shrink back), then you’re on the road to attracting more appreciative clients who will see the value in what you have to offer. And the good news is: Over time, you’ll become less intimidated by the idea of raising your rates. You’ll just know when the time is right and become aligned with it more quickly. The length of time you spend in the “adjustment period” will decrease. Then you’ll be more aligned and serving your clients more deeply.