Did you forget to raise your rates again? You’re not the only one.
It’s Q&A Wednesday, and we’ve got a business coach who hasn’t raised prices in years. Whether you’re a coach, a freelancer, or selling a product, keeping prices flat for that long is slow suicide!
Unless you run a dollar store, of course.
For everyone else, price increases aren’t a matter of debate. You have to raise prices to reflect the increasing costs of doing business, to say nothing of the added value of your experience. If you don’t raise prices regularly, you will inevitably undervalue yourself.
If you undervalue yourself, you will hurt your business. Price is a statement, one that reflects your confidence in what you’re selling. Keep it too low, and customers will get the wrong message: that your value is low.
The best part? Your customers won’t be upset when rates go up. We’ll explain how to raise rates in a way that keeps customers happy, even if you’re nervous about it. We’ll also discuss how to figure out how much to raise rates, which you should (have I made that part clear yet?). Click Play!
Easily sell Online Courses, Memberships, and Digital Downloads to your audience. With more than 10,000 creators on the platform, Podia is the easiest way to earn a living teaching what you know. Create a beautiful storefront in minutes and start selling your digital products. No technical knowledge needed, and no third-party plugins required. Check out podia.com/mba now.
The keys to building wealth: invest early, diversify, and create compound earnings. But how? Automation Finance offers real-estate-backed investments for anybody with $250 to get started. Their Automation Finance Reperformance Fund IV offers up to 8% annual returns through monthly dividends. Automated Finance buys distressed mortgages at a discount, then works with the borrower to avoid foreclosure. Start building wealth at www.automationfinance.com/mba.
The post MBA1465 Q&A Wednesday: How often should I raise my rates? appeared first on The $100 MBA.