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What you told me about retainers, the good and the bad.

In my last message, I talked about the problem of retainers, they seem like a great way to smooth out revenue and make delivery more predictable. Still, in reality, they may turn into a bog of over-servicing and under profitability.  I asked you to tell me about your experiences, and you were very generous with…

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So, what price should I be asking for my services?

This week we talked about how the “market rate” for your services is irrelevant — your specific qualities and capabilities will attract different prospects than others in your market. Those qualities impact the price you can charge more than the market does. We also talked about we can identify ONE critical feature or benefit that…

How to price your services HIGHER than your competitors.
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How to price your services HIGHER than your competitors.

In my recent survey of over 100 business owners, I asked them to agree or disagree with the following statement.  We are priced significantly higher than our competitors.  The results showed an almost perfect “bell curve,” with a slight tilt toward agreeing. Which brings up the question, “How do we know what our competitors are charging?…

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What are you doing today that will make you money for a long time?

I was sitting in a cafe last week when I noticed Every Breath You Take come on the background music. I’m not a big Sting fan, but it got me thinking. Sting wrote this song in 1982, and he’s still making money on it today! From Wikipedia: The song is considered to be both the…

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A story from someone who DOUBLED her price! (Reading time 1min 30 sec)

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…

How To Raise Prices Without Losing Clients in your Small Business
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How To Raise Prices Without Losing Clients in your Small Business

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…