Courage Comes From the Heart
Often when we think of courage, we see a warrior battling against all odds. The root of courage is the French word cour which means heart. Think of it as your inner strength. Yes, it takes courage to raise your rates.
This inner-strength feeds your determination. Your determination keeps you growing, even when your thoughts scream at you to back off. Charging what you’re worth is a common struggle for entrepreneurs.
Here are some of the concerns my clients share when we discuss raising their rates.
- Nobody will pay those fees.
- No one else charges that much.
- My clients will leave.
- How can I justify this?
- What if I can’t meet their expectations?
These concerns, among others, undervalue your worth.
You Don’t Have to Compromise Values to Raise Your Rates
First, there are real-world reasons to raise your rates. Charging by the hour limits how much you can earn. You’ll eventually experience burnout since your capacity can only stretch so far.Charging by the hour limits how much you can earn. Your capacity only stretches so far before you start to burn out. #getpaidwhatyoureworth Click To Tweet
What you’re really dealing with is a mindset issue. So that needs to be resolved before we can even discuss the possibility of raising your rates. You need to value yourself before your clients can fully appreciate and value what you offer.
Guilt is often the culprit behind low rates. You believe that charging more will make you greedy. Therefore, being paid well because you’re helping your clients solve a problem is not greed.
Or, maybe you believe that your core values regarding honesty will become compromised. Once again, unnecessary guilt is hindering your business growth. Many honest entrepreneurs build a profitable business doing work they love.
These are clues that your mindset is influencing your prosperity.
Address Your Fears and Guilt
It’s easy to get caught up with the “what if” thoughts like thinking you won’t meet client expectations if you raise your fees. As a result, making a decision that goes against your concerns takes courage. You don’t magically flip a switch and instantly overcome your fears.
Here’s the good news. It’s possible to chip away at your doubts. Get curious about your fears and worries. Where did they come from? Then start looking for evidence that other perspectives exist.
- Tune in. Your brain streams thoughts all day long. It’s easy to overlook the opportunities when you’re dwelling on the concerns. Let’s face it, noticing the positive thoughts takes practice. Therefore, be patient and gentle with yourself. Tuning into the opportunities gets easier with time.
- Rehearsal. Your clients can tell if you are uncomfortable talking about fees. One of my premier mastermind clients was uncomfortable talking about her fees. So she practiced saying her new higher rates out loud to herself. She felt silly at first. After awhile her hesitation disappeared. She gathered her courage to ask a trusted friend to role play with her. The feedback was illuminating. She said, “I didn’t realize that my discomfort was that obvious.” That nudged her to finally resolve her money issues.
- Weed it out. Guilt robs you of your potential. That’s a high price to pay. You’re probably not even aware of the various ways it impacts your business. Each time guilt influences your decision, it’s a clue that something else is going on under the surface. Solely picking away at the obvious behaviors is a slow, tedious process. True change happens when you go to the root cause. That’s because it’s like weeding in your garden. When you only pull the part you see above the surface, the weed eventually returns. The only way to fully remove the weed is to pull out its root. Once we clear the root, then your business starts to grow. It’s something I consistently do with my clients who are uncomfortable with raising their rates.
Know Your Value. What you think your clients value and what they truly value are two different things. The things that are easy to you often possess a lot of value for your client. But they’re often dismissed. What problems do you solve best? What are your skills? These things offer hints about your true value. Create a skills and solution list. Most likely you’re undercharging your clients. Keep your skills and solutions list close by. Use it as a reminder of the value you offer. Your clients benefit from the solutions you provide.
Build the Courage to Raise Your Rates
Courage-building takes time.
And it takes heart.
Similar to building a prosperous business.What you think your clients value and what they truly value are two different things. #raiseyourrates Click To Tweet
Breaking away from your old fees requires courage. Connecting your rates to your value is a game-changer. Instead of always chasing money, you’ll now have the resources to invest in attending professional events, or increased advertising, or making major purchases that will advance your business.
Because the blocks to courage can show up in many ways, it is challenging to isolate the ways they impact your prosperity and growth. That’s where Business Success Solution can help. As a therapist turned business coach, I work with you to get out of your own way and achieve the success you deserve. Together we work to dispel the fears and self-doubt that hold you back from raising your rates. We transform a negative into a positive.
How long have you been thinking about this? The decision to finally do something offers relief. As a result, something shifts when you decide to finally take charge.
Success occurs from the inside out. Let’s talk about how to connect with your value, increase your revenue and lighten your workload.
You deserve to thrive. Follow these recommendations raise your rates, and grow while keeping your passion alive. Are you tired of doing work for free because you don’t know how to charge for it? Discover how to get paid what you are worth and attract clients who understand your value. Right NOW claim your FREE RESOURCE and discover how to create value based pricing.