3 Tips to Help You Get the Rates You Want
It’s the question that we all dread, but it’s also one that every potential client will ask. How do you handle the “how much do you charge” question without dropping your rates?
“I love my work, but I feel like I’m running myself ragged to keep my business going.”
“I need to work with every single client that comes my way.”
These are feelings that Dot Spaet was all too familiar with before she started working with Thrive Academy. A fitness instructor in the Bay Area, Dot realized something important whenever she attended one of our summits:
“When we did the ‘How much do you charge?’ exercise, I was always the one with the lowest pricing in the room.”
Dot said that she struggled to look at this aspect of her work because it made her feel depressed. She thought that she needed to work with every single client who came to her. But with our help, she created a change. Slowly, she began to raise her rates. And as she did more of the inner work, she finally realized that she deserved more.
Today, her hourly rate is four times more than what it was when she first came to us. Part of the reason for this is that she learned how to answer the “How much do you charge?” question with confidence.
Perhaps this is an area where you need some help, too.
In this article, you’ll discover some methods that you can use to move you closer to charging rates you’re fully aligned with that also bring you the income you want to make.
Your Two Choices
It’s a great thing when somebody asks you how much you charge. It likely means that they’re interested in working with you.
However, how you deliver your answer can play a key role in whether or not they decide to do so. If you’re not confident in your rates, your potential client may sense it and conclude that you’re also not confident in your work.
Our goal is to help you develop confidence in your rates so you feel comfortable when you give your answer to a potential client.
When somebody asks you this question, you generally have two choices:
- Lower your ideal rate until you feel confident enough to answer
- Keep your rates the same or even raise them
Guess which one we believe you should do?
You likely want to keep or raise your current rate. But to do that, you may need to undergo some personal transformational work first so that you’ll feel confident in those rates.
Here are three tips that can help you.
Tip #1 – Understand How You Feel About the Rate
More than 95% of the people that we work with during our Client Attraction Summit give themselves a raise.
Allow us to give you a taste of one of our most powerful exercises.
Take a moment to think about your current rate. Give yourself time to experience the feelings and sensations that you experience when you think about that offer.
Now, grab a piece of paper and write about how your body feels right now.
You may find that thinking about your rate causes your body to expand. This is wonderful news as it means you’re aligned with your rate. When this is the case, your potential client’s energy often expands with yours and that means they’re more likely to say Yes.
But what if your body contracts? This suggests that you do not feel confident about your rates, and your potential clients will likely sense this as well.
With this exercise, you’re allowing yourself to understand how you feel about your rates. This understanding helps you to determine your own level of confidence and may show you that you have work to do.
Tip #2 – Know How Much You Need to Charge
When setting your rates, one of the key questions to ask is…
Will your current pricing model get you to your income goals?
Hopefully, you’ve created a monthly income goal as part of developing your vision. Take this number and use it to determine how much you need to charge.
For example, let’s assume that you want to work with 5 clients and make $10,000 per month. This means you need to charge a rate of $2,000 per client to achieve your income goals.
Perhaps you’re struggling to see how your goals can align with your rates.
One solution to this is to start offering packages instead of single sessions. We define a package as a commitment by the client to take part in four or more sessions with you.
Perhaps you can only feel confident charging a client $100 for a single session. But if you can get them to commit to your package, you can feel more confident about asking for the $2,000 that you need to charge.
Tip #3 – Hold Your Potential Clients as Resourceful Human Beings
Sometimes, you need to transform how you see your potential clients for you to feel confident about your rates.
When you look at a potential client, see them as an amazing human being. See their strength, wisdom, beauty, and magnificence. And recognize that, amazing as they are, there are still places that they’re struggling to get to.
It is not that this person isn’t capable of getting to these places. They simply need help to fulfill their hopes and overcome the challenges that they face.
You can be the person who helps them to do this.
Stand tall in your value and feel confident in the knowledge that you have a gift that can help them. Approach the inevitable question about rates with the mindset that this person is resourceful and can handle your rates. You don’t need to feel sorry for them or diminish their ability to pay for the support they want.
Charge Rates that will Sustain You and Your Business
How do you feel about the rates that you’re currently charging?
Perhaps you felt that contraction that we talked about when you thought about them. Or maybe you understand that you have a gift, but you’re struggling to create your package.
At Thrive Academy, we specialize in helping amazing people like you build a stronger business. Dot experienced this with us first hand and she’s given herself a raise. She and her husband even recently bought a 4 BR house in Marin, CA. Thanks, in part, to the transformational work that she did.
Would you like to do the same?
We invite you to take part in our live, 3-day Client Attraction Summit. We would love to have the opportunity to help you develop the confidence that you deserve to have.
More Posts to Check Out
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In today’s video, you’ll hear how Karen renamed her “Discovery Session” so it was easy for people to say Yes… I wish I would have known these tips back in 2002, when I was trying to invite potential clients into an introductory session to see if it was a match.