105. How to change your prices with current clients
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There comes a time when you need to change prices with your current clients.
For me, it happens a lot when I work with them for a long time. The value changes over time.
And that's the key part here: value.
In most cases, I find new ways to create value instead of reducing my rates. I ask questions about goals and needs.
But in many cases still, the value decreases once I get all the hard parts of the systems and strategies in place. And with that, it makes sense to have the talk.
I try to check in with my clients often, but especially when I intuit that either I'm doing way too much or not providing a clear enough value equation for them.
If you're not sure, the best thing to do is ask what the goals are and the impact of those goals will be so you can continue making a business case for the work you'e doing.
I like to pre-empt these conversations as much as possible and suggest new rates or new scopes proactively whenever possible.
The last thing you want to do is be stuck doing too much work or not feeling like you're adding enough value for your clients. When that happens, it's better to air your thoughts and make proactive adjustments to keep your work aligned with their needs and goals.
Ultimately, doing this means taking a long-term view. It's about them, not you. And when you put your clients first, you always get the most mutual value out of the relationship.
Listen in for some more context and a few specific examples of changes I've made this month.
—k
There comes a time when you need to change prices with your current clients.
For me, it happens a lot when I work with them for a long time. The value changes over time.
And that's the key part here: value.
In most cases, I find new ways to create value instead of reducing my rates. I ask questions about goals and needs.
But in many cases still, the value decreases once I get all the hard parts of the systems and strategies in place. And with that, it makes sense to have the talk.
I try to check in with my clients often, but especially when I intuit that either I'm doing way too much or not providing a clear enough value equation for them.
If you're not sure, the best thing to do is ask what the goals are and the impact of those goals will be so you can continue making a business case for the work you'e doing.
I like to pre-empt these conversations as much as possible and suggest new rates or new scopes proactively whenever possible.
The last thing you want to do is be stuck doing too much work or not feeling like you're adding enough value for your clients. When that happens, it's better to air your thoughts and make proactive adjustments to keep your work aligned with their needs and goals.
Ultimately, doing this means taking a long-term view. It's about them, not you. And when you put your clients first, you always get the most mutual value out of the relationship.
Listen in for some more context and a few specific examples of changes I've made this month.
—k
