Posted by NVLSlady/VA on 7/31/13 10:18am
Msg #478696

It's a Great Day to Rethink VALUE (and Fees)

We can all do ourselves a huge favor in considering these and other relevant references to raising our rates (I'm all for alliteration when it wakes up the mind).

Quote from [lawbiz] article: There is no perfect time to raise fees. Those clients who do not want to pay the higher fee will seek other counsel. Those who believe your service to be of VALUE will accept the higher fees and remain with you. It's a simple equation – provided that VALUE is on your side.

Reference 1 ~ http://www.lawbiz.com/cba_increase_fees.html

Reference 2* http://www.consulting-business.com/7-ways-to-increase-your-consulting-fees.html

Reference 3 ~ http://freelanceswitch.com/money/how-to-raise-your-rates-without-losing-clients/


*I LOVE no.s 6 & 7

Reply by NVLSlady/VA on 7/31/13 10:25am
Msg #478700

Toni, I just saw your post on VNN

Reply by ikando on 7/31/13 11:11am
Msg #478714

I took this quote from the FreelanceSwitch site:

"The fear of losing clients when you raise your rates is often nothing more than an irrational fear. Every year that you’re in business, you offer one more year of experience to your clients; one more year of learning; one more year of expertise. Doesn’t that in itself justify at least an annual increase in your rates?"

To me the key word is "freelance", to include independent contractors, which is what we NSAs are. In my opinion, the thought that I am expected to LOWER my rates from when I started in 2004 in order to keep periodic work coming in, then to have the hiring party expect more and more services from me for that lesser fee, is beyond comprehension. I run three businesses, and I generally raise my rates every two years to accommodate my increased experience levels and the cost of living. For that reason, I have not been handling many closings, because I have an expectation to earn a living for the skills I possess. Those companies for which I work understand and appreciate that I am not receiving an hourly wage for sitting by the phone waiting to hear from them, and appreciate my professional services.

JMHO. Do with it what you will.

Reply by 101livescan on 7/31/13 11:47am
Msg #478726

Awesome attitude and business model!