5 Ways to Raise Prices without Losing Clients

Recently the owner of a successful design firm approached me for help raising their rates. They hadn’t raised their rates in years, and she knew their fees were quite low compared to many of their competitors. But she was very nervous. She couldn’t afford to alienate her existing clients, and she was wary of scaring …

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4 Ways to Handle Price-Obsessed Prospects

Price-Obsessed Clients

“Oh, that’s expensive.” I used to hate hearing this. Everything would be going great with a potential client. I would explain how I can help them, and they would nod their head enthusiastically. Then I would tell them the price and everything would grind to a screeching halt. “Oh, that’s expensive,” they’d say, shaking their …

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5 Common Pricing Mistakes

Better Price Best Price

A graphic designer recently confided that she really had no idea if her prices were right. Her firm was successful, and they made decent money. But she knew some firms charged quite a bit more, and she wondered if she could raise her rates. At the same time, she hated that her firm lost work …

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Three Top Strategies for Growth in 2016

Keys to Growth

This is the time of year when we all step back, see how the year went for our business, and then wonder how to improve things in the coming year. My clients often ask me: “Where should I focus my energy? How do I plan for successful growth?”

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Pricing Basics (Don’t Stab in the Dark)

Do you ever feel that setting prices is like stabbing in the dark?  It shouldn’t be.  There’s an art and a science to price setting that, when followed, will immediately increase your profit. This is why, when I’m starting with a new client, we often start by revamping their pricing.  Done right, it’s instant profit …

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Three Things I Learned in India

I just got back from two weeks in India, and I found it’s a land of entrepreneurs.  Unlike the developed world, where big chain stores dominate the landscape, Indian cities and towns are full of mom & pop ventures.  Here are a few lessons I took from watching storekeepers, craftsmen, and other enterprising Indians. [margin30] …

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How to Keep Prices High and Still Close the Sale

Ever feel like you need to give a price concession in order to close the sale?  WAIT!! Even experienced negotiators encounter this situation all the time.  But they’ve got tricks to keep their prices high AND close the sale.  Here’s four that I use ALL the time. [margin50] [div style=”float:left;margin-right:20px”] 1 [/div] [div style=”overflow:hidden”] Train …

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How to Make Discounts More Profitable

“Looking for a jump in business?  Have a sale!”  “Want them to buy?  Offer a discount!” That’s the conventional wisdom, and indeed it works…but at the expense of profit!  Nonetheless, so many businesses I work with find themselves slaves to discounts in order to keep the sales coming.  Discounts, discounts, and more discounts. It doesn’t …

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