I hear that a lot. And not just from start-ups, but from entrepreneurs who have been in business for some time.
They hear me talk about the importance of raising rates and they see others doing it and making more money, but when it comes to themselves trying it…they struggle.
These struggling entrepreneurs see others charging 2,3,5,10 maybe even 50 to 100x what they charge and they wonder how the heck do they do it? Well, I can tell you, it’s not a secret and it’s not magic.
But there is a trick…and it involves your mindset.
Those charging more than you have already figured this out.
The problem is…your mindset is that very obstacle that’s holding you back from charging more.
Nobody else is holding you back.
It’s your thinking.
You’ve conditioned yourself to believe that… (1) people can’t afford more, (2) your product or service isn’t that valuable, (3) you have to be competitive in the marketplace, (4) having a cheaper service will produce more volume, (5) being affordable, you’ll be more well liked in the community, (6) people that are rich are looked at differently and (7) you don’t deserve it.
All those things…are false!
And by thinking that way, you are conditioning yourself to believe that raising rates is bad.
Here’s what happens when you raise rates… (1) people automatically perceive your product or service as superior, (2) they believe you are better than the cheaper competitor, (3) they value your expertise more, (4) you are able to make more money, (5) you are able to buy better equipment, (6) you are able to help out the community, (7) you are able to hire employees, (8) you are able to take vacations, (9) you are able to give your employees & family more, (10) your customers actually stay more loyal to you, (11) and that stress you feel not having money goes away.
Do you want a product or service that people respect, that makes you money, that enables you to enjoy life, that gives you the opportunity to support the community, to not feel as stressed and that allows you to expand your business? Or do you want to keep struggling?
Well, raise your rates!
Hmm, yay it is. In fact, it’s just that simple!
Do you believe you’re worth it? If the answer is YES!
Then what are you waiting for? Raise those rates.
No more excuses.
Think about this for a moment… when you advertise cheap…that’s exactly what the universe will give you…cheap.
Cheap prices equals cheap customers.
Which equals you staying stressed because you aren’t making enough money.
Believe in yourself, believe in your product, believe that you are capable of so much more, believe that you have the ability to transform yourself into something great.
I believe in you, why don’t you?
It’s your mindset that is holding you back.
Change your thinking and you will change your stars!