SBOC

How do I raise my rates?

Raising your rates means charging more for the work you already deliver, and the math is friendlier than it looks. Raise a price 10 percent and you can lose a quarter of your clients and still take home the same profit.

If you can’t remember the last time you raised your prices, it’s been too long. Quit charging too little. Here’s everything we’ve covered on it, starting with the one I’d read first.

Start here: How to Raise Your Rates Without Losing Clients

Every answer on this

From the show

Questions owners ask

How much should I raise my rates?

Start with one thing you sell and raise it today. The math on a 10 percent increase is on your side: you can lose a quarter of your clients and still make the same profit with less work. Read: How to raise your rates without losing money

How often should I raise my prices?

If it’s been two years since your last increase, you’re making roughly 15 percent less in real money than you were. Check your prices at least once a year. Read: When Should You Raise Your Business Rates?

Won’t I lose customers if I raise my prices?

Some, maybe. Fewer customers paying more can still be a record year. Fewer customers paying the same is just a bad year with extra steps. Read: Why fewer customers means it’s time to raise your prices

What do I say when someone says they can’t afford me?

We worked through this one live on the show, word for word. Read: What to Say When They Say They Can’t Afford You

More topics: What you sell · Getting clients · Money · Hiring and handing off · Time and burnout · Keep going · AI

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