My calendar just let me know it’s time for you to charge more (https://kaidavis.com/charge-more/).
If you’re looking for the easy path to charging more, then I recommend you do one of:
- Take your rate (hourly, daily, weekly, whatever) and raise it by 15–20% for all new projects, clients, and work. As you close new clients, charge them your new, higher rate. Keep billing your existing clients at their previous rate.
- Take your fixed price for your popular services (e.g., productized services, fixed-price projects) and raise your price by 15–20%. (If anyone asks why, say, “Yes, I raised the price due to demand and overwhelming positive response.”)
Then, update your prices (on your website, in your collateral) and you’re done. 💥
But if you’re looking for a more impactful path to charge more, your best bet is to start to think about value.
- What value are your projects delivering?
- What levers could you move to provide more value?
- At a 10x price, how could you provide 10x (or more) value?
Here are a few questions you can think on to understand some of the next steps to charging more. Your answers won’t immediately point the way to 10x’ing the value (or price) of your services, but they will help you understand some of the next steps to take and the next questions to ask:
- What’s your current price for your most popular project? (this might be a productized service or a typical project scope you regularly tackle)
- At that price, what deliverables do you include?
- At that price, what value does this project (or those deliverables) provide to the client?
- What provides the value for the client? (e.g., it’s a done-for-you project, it tells them the path to walk, it fixes something that’s costing them money)
- What would the new price be if you 10x’d your current price?
- At this new price, what deliverables do you include?
- At this new price, what value would you need to provide?
- What could provide some of that new value?
You most likely won’t have a crystal clear idea of what to do to increase the value of your project 10x. That’s fine. What you’ll want to do is start to have conversations with clients, prospects, and colleagues in your industry to learn more about what levers you could move to increase the value.
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