How Do I Raise Prices Without Losing Clients?

"Let each dollar bill be like a thank you note." WOW, everything on this was amazing but this struck hard. Never again I'll shy away from charging what I think I should charge.

This could work for selling hours. I only have so many hours I can sell and they are all being sold. Why should I sell you my hours for 25% less when other customers are willing to pay more for that time?

Never let a client or customer determine your price for you; set your own price whenwver you want and however high!

However, it is not up to you to say what value your work is to any client; they hold the key to that door! The client determines what value they are getting from whatever you are pricing for them!

Play your cards with confidence but also allow the client to throw thier cards regarding the value with confidence as well.

Just know, if their percieved value of whatever you are pricing doesn't exceed the price you are setting, there will not be a deal! If I just want a car I can use to get me from A to B, just that, I will feel my wallet is attacked if you put a ferrari before me!! You would think I am mad for wanting a ferrari at the price of a lexus!! That would be your mistake, not mine!

Make sure you have the right clients before you before even having the conversation about what you can do for them!

So, don't just set prices simply because a new client walked in, you better set a price with specific variables you consider always, not just a new client walking in otherwise something will always be off with your pricing and, remember, clients always end up getting whatever they want done, done! If you keep raising your prices like that, also, depending on what service or customers are walking in, you might end up running prices that are equaivalent to selling an entire private jet!! 😂😂😂 Be responsible, simple 😊

Pretty much LIE!!

Guys as a beginner, dont worry about this, get as many clients as you can. Only once you are more developed and more in demand look at turning down clients.

The stress of having a low paying customer is better if you lose the client overall. Predatory type of clients. Squash that Ant!

Is Chris wearing Boy George's lucky hat? 😁 Farell Do 🎩

What do you do when you are starting out and you don't have enough clients yet to have a full schedule?

Also, what do you do when a good client starts to really not treat you well, like not paying on time, canceling on you? Like I could start to make them pay ahead of time, but how do I make it seem like I am not just penalizing them? They know what I started charging ya know.

In my case I am a model for the artists. Which does take significant skill, as I have seen with 10 years of experience.

so they just taught her to lie about abstract projects to play cool, which would cause troubles once client finds out... IF client buys this in a first place.

I am years in industry and raised my income X times.
believe me, this is a bad hypothetical advice. idea is good, but advice is bad.

As someone who studies economics (finishing my msc in Economic theory) I cringe with the advice these experts give.

Supply and demand are not about one seller and one buyer. If it was that you would be able to find a genius designer from a developing country and pay $100. The cost of finding good and reliable designers and constructors in general is the actual reason you can charge more

I guess we all agree that the title is a click bait. By raising prices, you'll lose some of the existing clients.
Also, let's take a grocery store or a car dealership or a lawn care. Good luck to them to raise prices just because they want it.
I guess this video talks specifically about artists, where it's hard to measure the value of their products

This was exactly how I felt. I would build other people's business but was scare to build one for myself. Fear, self doubt is crippling deal with it and you will become unstoppable

Every time a new client comes in raise prices this mfr never started a business by them selves

I wish I saw this 4 years ago when it came out 😂

I learned this the hard way: those who pay less, demand more and sooner and complain all the time. Dump'em fast, dump'em hard! I totally changed my life after filtering out the chaff.

Thanks

Double and give it to the next person 💀

I can't even draw.

this is amazing. thank you. I recently just raised my prices and have been feeling some anxiety. THis is a good reminder to not sell ourselves short and remember our own value :)

This is the greatest advice. Thank you for sharing this.

He was lowkey talking about Dr.Peterson when talking about this imaginary child

I think raising your price for each new client, when your client will be a repeated business, can backfire at you or may not. Its good to approach it with clients that you know is going to be just a one off project, like a wedding event. But when you have a repeated client, its tricky. That client who pays X , your increased price, may reach your other clients and say to them, i pay this and i get that, and the other client would say, oh, i get the same thing and i pay less. And then, the new client comes back to you and says, why am i paying more than that client for the same stuff? And you risk losing him unless you offer him same price. I know, we use "i'm busy" strategy, but what if the client doesn't want to hear about "youre busy" he only cares about paying less. What do you do? you give him the same price just so you don't lose him? If on your website/social media, you say you worked for X and Y, that new client you just worked with or will work, might contact these people and ask about fees. So, i'm not 100% convinced about this strategy when is a repeated business client.

She's not braver for an imaginary relationship. She just can't lose in this scenario. At this point, you haven't even heard about the job so blowing the deal doesn't really effect you. On the other hand, closing a big deal for you benefits you both greatly. In that scenario she's operating without the great of loss.

To be honest the market sets your price for the value your bring in your work, whether you increase your price or not. So go ahead and increase. Market will adjust to the value of your work.

I think the point was really well made that the seller is looking at time for money while the buyer is looking at problem solving value for money. Whether the quality has changed is irrelevant if it's not worth the time you spend for the current price and it is providing them value at the next price point. If your charging new clients more and staying busy then there are demands on your time that have nothing to do with what you agreed to do previously.

New Sub here! I really LOVE this!

New Sub here! I really LOVE this!

As a landscaper owner, I disagree with the first speaker. I just don't raise the price, there has to be a justification. Be fair on your rates...🫤

Cool lesson love it

The good explanation. Thank you!

Jordan Peterson says treat yourself the way you treat people you care about

not on the same level as this people but im a self employed decorator and i always have people saying if i pay you cash can you take 20% off always asking for extras for free or expect you to do it for free even had people threating me leaving a bad review if dont do extras for free or lower the price constant battle being self employed get so much crap the actual work becomes almost becomes secondary

its a nobrainer...if the demand is high, raise your price!

If your raising your prices and you can't show a cost increase your a fool and they will go elsewhere. So maybe just don't get greedy and don't sell yourself short.

How does a service business raise their prices all the time? Example a video transfer place that transfers VHS, camcorders to DVD and digital. These customers get their memories transferred once and do not come back because they do not need too.

Wow, that was mid blowing

That hit hard..... great advice

golden!

“Every skill you acquire doubles your odds of success.” – Scott Adams

Great business advice as always. I believe that we are in one of the greatest eras in human history(the information and technology age) that is flooded with ideas, Possibilities, and access to information that this should be an easy problem to resolve without in-person professional guidance. I believe, like the guy with the hat was saying, her work or request isn't the problem; she need to see her own self-worth. Maybe she's done that by now.

Old video, but it's easier to loose someone else 500 USD than yourself, when you're struggling.....

Great content! Maria is so stunning. Naturally beautiful, talented & kind.

gooo Maria, hope you went well ?

Well i think chris got it all wrong saying that she s willing to fight for him as if she is brave enough to fight for someone else and not that brave to fight for herself...

scarcity mindset... THAT S IT ... She s willing to fight for someone else because she has nothing to loose ... for herself, she thinks ... oh well ... if i don't close this deal, what will i have ... so $500 is better than nothing ...

Again, if she was employed by chris as a sales rep, and he didn't defined no rules, she would be afraid again to bargain... but if let s say her employer said no less than $2000, again she wouldn't be afraid, because if she looses the deal she'll tel her employer you made the minimum price high so we lost him...

SCARCITY MINDSET guys ... saying no makes room for more clients that MAY say yes for the proper price ... emphasis on "May"

That was awesome...thinking you're negotiating for someone else is HUGE...WOW what a mental hack!