When Can You Increase Your Rates?

Thursday, October 06, 2005

I am sure we have all been troubled by the delimma of how to set rates to attract and keep business in this market.

Unfortunately the market place over the last few years have been difficult and with cut rate practices existing as a result of the competition from the few trying to attract what business there is, we have been reluctant to make requests of our existing customers to pay increased fees.

But there always comes a time when you have no choice to do so in order to operate effectively.

When that time comes, take council from the advice provided by this article but make the decision with careful consideration of your customers ability to afford your new rates.

5 Ways To Raise Prices And Make More Money For The Services You Already Provide
November 1, 2005
By Robin Robins, President, TechnologyMarketingToolKit.com

Many other good articles on "setting billing rates" can also be found at these links:

How to Set Rates FAQ

Setting your hourly billing rate -- Part 1

Pay Yourself Right When Being Your Own Boss

In the end, only you can place a price on your services, I use the criteria that I do this job because it is what I like to do, which is IT consulting, the money follows if you do it well. However, it can take time to come. A long and difficult road to pass.

Article by Clyde Thorpe
thorpeca@istar.ca

Provided as an assistance those who work in the field and whose income is dependent on their ability to personally market their services. I know from experience it can be hard.

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