The best way to raise your rates (without imposter syndrome creeping in)

You know what’s gonna make imposter syndrome come creeping in faster than Clare Crawley’s stint on The Bachelorette? 

Charging your worth. 

Before I let you in on the secret that allowed me to confidently raise my rates in the middle of a pandemic without major imposter syndrome creeping in, it’s important that you know exactly how I feel about this issue of creative entrepreneurs charging our worth. 

Because truly, if you had to tell me a number, how much are you worth?

Don’t answer. Because your worth is not (and should not be) found in the work that you produce.

Got it?

The worth of your work (and what we’re putting a price tag on) is solely related to the value you provide for your clients. 

And this value is dependent on a variety of factors which is what can make it feel almost impossible to know where to start, and how to confidently raise your rates as a creative entrepreneur. 

So I bet you’re wondering how I do it?

How did I scale my business in a profitable way, without feeling sleazy?

At the beginning of 2020 I attempted a large price jump. I felt that I should be charging more, and so I decided to raise my rates by a large amount, only to be left feeling like a total fraud along the way. 

The problem(s)?

• My process hadn’t changed all that much from my last client. 

• My results hadn’t changed all that much from my last client. 

• And my client experience hadn’t really changed all that much either.

Basically, not enough had changed about the value I was providing for my clients, leaving me feeling super awkward when I tried to sell the same services at this new rate to any new leads. 

So what did I do instead?

After chatting about it with my business coach, I decided to try an incremental approach. 

With each client booked, I would raise my rates just a tad (think 10-20%). 

It was a lot easier to sell, and it felt a lot more comfortable explaining my value to potential clients when it wasn’t such a significant jump. 

And, as she said, if someone is willing to pay $800 for this service, someone else is likely willing (and able) to pay $900, and so on.

With each client booked, I’m learning more, gaining more experience, and refining my process, ultimately providing them with a better end result. 

So rather than quickly jumping from one price point to another, the incremental price change process allows me to raise my rates with confidence without feeling like an imposter along the way!

If you liked this one, I think you’ll enjoy the next post I have lined up for you all about what to do when potential clients say you’re too expensive!