Thou Shalt Charge What You’re Worth
“Your fees are too expensive”.
“If you just shave off $XX from your proposal, then you’ll be competitive and I can give you the work”.
Ever hear or get told that ☝️?
Today we're talking about the 4th Commandment for Consultancy Business Owners.
Getting asked to cut your fees to ‘be competitive’ and to ‘bring the project back into budget’ is like a rite of passage in our industry.
Certain clients seem to do this all the time - regardless of your relationship with them.
And I think that sometimes they even try it on just to see if they can get things done a bit cheaper.
Charging what you’re worth starts with you.
Clients are never going to ask to pay you more.
It’s up to you to set the bar and set the standard for what you get paid and how much you charge.
Now obviously what you charge has to be within reason - otherwise you’ll never win any work.
But when you look at industry average rates and pricing - there is actually a pretty broad spectrum and most are sitting at the low end of this spectrum.
So trust me - you have room to move up with your rates and how much you charge.
Like a lot of things in business - raising your prices and charging what you and your team is worth comes down to a self-worth and self-respect piece.
How much do you believe in your product and service?
How much do you believe in the outcomes you get for your clients?
How much is what you do for your clients worth to them?
And do you charge accordingly?
I’m a big believer in business around the concept of ‘smarter - not harder’.
And raising your prices and charging more gives you an instant uplift in your revenue and profit margins.
You’re getting paid more and better to do the same amount of work.
So honestly assess whether you’re charging what you’re worth and if you’re not, it might just be time to start doing it.
Remember - charging what you’re worth starts with you.
And if you'd like to lock in a time for us to map out a growth plan for your business.
Book in a Business Growth Call where we'll:
1) Uncover the #1 bottleneck that's holding you back from growing right now.
2) Look at where you are now and where you want to be going.
3) Develop a 3-step action plan together for how you can get results faster.
You'll leave this call with a clear and actionable plan for what to do next in your business.
Book in a time - click here
To your success
Josh
PS: If you’re interested, here are 4 ways I can help you right now:
- Subscribe to our podcast | Looking to grow your consultancy? Our weekly podcast is packed with the latest tips, tricks and strategies. Learn how to run a more efficient business and scale successfully – no fluff, just actionable and practical advice from someone who grew a consultancy to $30M and exited successfully - Click Here to listen & subscribe now!
- Download our free Business Plan template that will help you build out your Business Plan & grow your business in a consistent and step by step manner – Click Here to download now
- Join our next online workshop – The Profitable Consultant | Learn how to build a Profitable Consultancy, that generates consistent 30% net profit margins - Register here
- 4. Book a 15-minute Business Growth Call | Map out a growth plan for your business, uncover the #1 bottleneck that's holding you back right now and leave this call with a clear and actionable plan for what to do next in your business – Click Here
