There are three main ways to increase your revenue.
This article is obviously, about how to raise your prices. However, this is not the only way. So if you do not want to raise your prices, you do not have to.
There are options for you to increase your revenue as a women freedom-prenuers you can choose to grow your business by increasing sales or even creating a new way for clients to work with you to offer past or existing customers.
This article is about raising your prices, so keep reading if you are interested in that.
Why raise them?
Well, it was interesting to me to read that even women entrepreneurs have lower yearly salaries than men entrepreneurs.
As an entrepreneur, you are the boss, so why are we paying ourselves less?
For the same reasons why our business stays small.
The reason is different for every person.
Most likely, it has to do with your value system.
You are thinking about what you are worth instead of what your client’s goals are worth to them.
Your customers are paying to solve a problem, not for the hours you work.
Instead of seeing it from your point of view, see it from theirs.
I remember reading about the difference between the wages of a Starbucks Baristas and a salary of a Heart Surgeon.
Larry Winget, the author of It’s Called Work for a Reason, highlights that a Heart Surgeon puts more value into an hour than a Baristas.
It is not that they are worth more as a person, but that the solution is valued higher.
When do not share the value (not price) but the value of working with you, you get nos.
Few things kill a business quicker than no after no after no after no.
This situation is particularly true when the price is low. You can get stuck in a vortex where you want to lower your prices and drop them to get people to buy, but the truth is – they do not buy because they are so low.
If you went to the heart surgeon and he said I have a special today only $99.99 – you would run.
You would assume he either was doing something illegal or had no idea what he was doing, either way, you would fear for your life.
No bargain in pricing from the surgeon is going to convince you to work with them.
The same with your services. It scares (thinking people) when you have low prices for what they know is worth so much to them.
The question to ask yourself is, how can you put more value into an hour of working with you or purchasing your product?
The answer is not by doing mental gymnastics but in the acknowledgment and communication of your value.
If you want to run a business that allows you the highest possible amount of time freedom and pays you well, you must change the way you see your services and more importantly how you communicate that to your prospective clients.
Right now, decide that you will value your services using a measure of the benefit it brings your client’s life.