Is it time to raise your fee?
We talked a few months ago about getting paid what you are worth. Many of you have asked me questions about how to know when to raise your fee.
When do you raise your fees?
There are two things we might consider before going into our checklist.
One, the economy is strong, which leads to healthy bookings in our industry. All signs are pointing towards growth and loosening of corporate budgets. I have colleagues who are doing 25+ dates for one company this year. That hasn’t happened for a while. It’s a great sign.
Two, your fee (if low) might be hurting your image more than helping. When a decision maker sees your fee, does it boost confidence in your talent or lower it?
I am NOT encouraging you to raise your fees unless you feel you can provide the content and value to go along with it.
[Tweet “The best step towards a fee increase, is an increase in ROI or value provided @janeatkinson”]
Here is our checklist – several great reasons to consider a fee hike:
- You have published a new book. Being an author always leads to additional street cred. Take advantage each time you publish something new.
- You consistently share the platform with people who charge more than you. How annoying is that, right?
- Your clients tell you they would have paid more or that you are “amazing value”.
Your calendar is at capacity. Supply and demand baby!
- I’m getting ready to raise my fees. I lowered them slightly to accommodate for a struggling economy, but that has passed and I realize the value I provide far exceeds the investment.
Knowing when to raise your fees is not an exact science. But when you do it, be fearless! Please leave your comments below.
See you soon wealthy speakers!
PS: If you’d like to beat my private coaching fee increase – book your Focus 40 today. We’ll hold the current fees until July 30th.