When you started your business, you tried a lot of things before you found what people would pay you for, that you’re good at, and that you enjoy. There aren’t many businesses I work with who still pursue the business idea and model they first started with. So you try things, and you find clients….
We’ve been talking about raising prices for a few weeks as one of the easiest ways to make more money right now. Today let’s study a real-life customer story of someone who finally started raising her prices.; “I know you’ve been telling me that my prices are way too low, but I still have a…
We’ve talked this week about how to position your firm as the “costs more, but worth it” provider in your niche, and about the huge advantage a unique expertise to solve those big, scary problems that your prospects face can be. It’s a lot of work to develop that positioning — both in your mind…
To get a premium price for your services it’s important to be positioned as the “costs more, but worth it” provider. Your prospects need to see you as substantially different from your competitors. And not just different like you “dye your hair orange” different, different in a way that makes you uniquely qualified to solve…
We’ve talked previously about how important it is to find more significant, scarier problems. My father used to say it this way; ”No one gets hired to tell a client to take his vitamins. You hire an outside firm when you have an artery spouting blood and they need a tourniquet!” Dad had a way…
Executive compensation can be a hard topic to tackle, especially for startups and other growing companies that need to attract experienced talent on a smaller budget. What you may not know is that base salary is the smallest component of executive compensation, generally outweighed by incentive pay. That is good news for growing companies with…
We’ve talked about raising your prices as a prime way that you can make more money in your business, but the #1 fear that I hear is that prospects will say no to the higher price. So when I saw this tweet from Chris Do I had to share it with you. So when my…
One of the easiest ways to 1) grow your business financially, 2) help you to focus on your ideal clients and 3) free you up to spend more time growing your business is to raise your prices. But I get a lot of resistance from business owners when I start to talk about raising prices. It’s…
Adjusting to a Profit Margin Mindset There’s a strange phenomenon that many entrepreneurs and small businesses suffer from. Fear of raising prices. You’re scared that your customers will pull their business from you if you do. Yet your business is growing. You’ve got loads of work coming in. So much so that you’ve taken on…
I had a prospect come to me with a desire to grow her income, and at the same time to make her business processes less dependent on being “hands on”. “Why do you want that, Linda? What makes this important now?” I asked. “Well, I just came back from visiting my Father in Tucson, and…