Don't Lose Sight of Your Increase in Value

Don’t Lose Sight of Your Increase in Value

What holds a lot of people back from money is just the fear of asking for it.

This happens on many levels. Including asking for more of it.

There’s fear that if you have a business or offer a service and you raise your prices—and we encounter this constantly with business owners we coach—people will not want to keep doing business with you because you’re more expensive now.

The assumption is that the only thing that customers want is a low price. It’s an erroneous belief! So people, for years and years have kept their fees way too low. They’re not able to serve themselves well or serve their customers well. Because they’re just afraid of what might happen.

You face two worlds: There’s what you think is going to happen, and there’s what actually happens. And what happens in the mind is always worse than what happens out in real life.

Our experience with ourselves and our clients is that raising fees helps the business, despite the few defectors that were not your ideal customers anyway.

We had a client named Drake do this recently. Drake raised prices and out of more than 300 regular customers, there were only three who left him! And if we’d asked him before how many he thought would bail over the new fee he would have said 50 to 100!

The key is to just condition yourself to have your fee reflect your ever-increasing value to people.

Take a deep breath, and ask for something above and beyond what your fear tells you not to ask for. And keep doing it, because now you’ve created a new game and a new level for yourself. Like Ralph Waldo Emerson said, “The greater part of courage is having done it before.”

Every day you’re delivering something better than you did yesterday. You are better today than you were yesterday. If you are not, you shouldn’t be in the line you’re in. And if you’re better every day, then why isn’t your fee rising accordingly? When a company gets better, the stock price keeps going up, so your own prices need to go up, too, and if they’re not, you have a great opportunity to increase your wealth.

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