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| The Client Letter |
| Doubling Your Fees |
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September 26, 2011 Sedona, Arizona I doubt I’d be able to find too many independent professionals who wouldn’t like to receive more income for the work they already do. If that’s you, I have good news. Because you are in control of that decision. Your competition doesn’t control your rates, and to a large degree, the market doesn’t even control your rates. You can charge whatever you want.
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The trick though, is actually getting paid what you want to charge. Does today sound like a good day to double your fees? So instead of getting paid X for the work you do today, you’d get 2X? How do you do it? You Just Decide to Do It
The byproduct of a decision like this is that what was a “money” problem is now transformed into a problem of another kind. You now have a marketing problem. That’s because your number one priority has now become figuring out how to attract clients that will pay your fees. You can solve this in a number of ways. Namely, you have to get better at developing attraction and articulating the value you provide in a compelling way. First of all, ask yourself, “Am I providing value far above my fees?” If you aren’t, then fix that and start doing it. Next, you have to figure out how you, as Dan Kennedy would say, get demand for your services to exceed your ability to supply those services. This, in my experience, is a never ending process. And easier said than done. But when demand exceeds supply, you are in the driver’s seat. It’s a very simple and powerful and principle to keep in mind… always. How exactly your create that heightened level of demand is, of course, up to you. And that, in my opinion, is THE killer skill that you want to develop. Sometimes, it helps to work with someone else to do this. Other times, you can figure it out on your own. The point is that this little riddle is worth figuring out for your business. There is only one right answer and that is YOUR answer. Get it right and just “doubling” your fees will seem like child’s play. See you tomorrow,
P.S. Know anybody who would benefit from The Client Letter? Please pass it on. It’s good karma. |
