We can also connect together on Pinterest here.

[youtube width=”600″ height=”352″]http://youtu.be/LDC8xMzYpLM[/youtube]

Is it time for you to raise your rates? The answer may very well be, absolutely—especially if you’re almost at full practice capacity. A lot of entrepreneurs hold off on making the decision to raise their rates because they’re afraid of the push back from clients and prospects who may complain.

Well, I have three strategies for you that will make you more money immediately. These are the same strategies that we teach all of our clients at all levels of our Client Attraction Winners Academy. They are simple to implement and you will eliminate the push back from clients and prospects when you decide it’s time to raise your rates.

The first thing I want you to do is consider not raising your rates with existing clients. See, I’ve been in business for 12 years and I’ve raised my rates many times over the years. In fact, at one point in my business I was pushing up against full practice capacity so often that I was raising my rates every three to four months, little by little.

What I realized is that clients who are used to paying a certain amount don’t like to pay more for what they’ve gotten. They certainly don’t like to receive less, so my strategy over the last few years is simply to grandfather your existing clients into the old rates—your existing rates that they have been paying—but also educate them that if they even decide to leave and then come back, they will be coming back at the new rates. Have them understand that. You’re letting them know that it’s in their best interest to stay with you for years to come.

Next, when you’re announcing new rates, to make sure that prospects don’t get cranky about the increase, you need to announce that you will be increasing your rates by a certain deadline. Perhaps you’ll say, “Starting June 1st or December 1st, I am raising my fees or my prices by this much to this amount. Luckily if you decide you want to work with me before June 1st and you sign up, then you will be grandfathered in at the old rate.”

It could be a week, it could be two weeks, it could be six months. I recommend one month; 30 days. What happens is you’ll start seeing a deluge of new orders and new clients come in before the deadline. If somebody then chooses not to sign up with you before your new rates go into effect, it becomes their choice and they will understand that you are now only available at the new rate.

The third strategy around raising your rates is to give your prospects and clients a rationale as to why. It could be that you’re adding new services or you’re adding bonuses or simply it’s time because you’ve been charging this amount for quite awhile. If you let people know why you’re doing something, it feels more authentic; there’s more integrity in it. So write out a rationale ahead of time and communicate that when you are letting prospects and clients know that you are raising rates.

Your Client Attraction Assignment

When was the last time you raised your rates? Take some time to evaluate how your products and programs have evolved since then and determine if the time is right for an increase. Then map out your strategy on paper. Set a deadline for your new rates to go into effect and determine how you’ll communicate your increase to existing clients and new prospects.

Good luck!

We can also connect together on Pinterest here.

There are times when you may feel your professional confidence wavering. This happens more often to people than you may think as a result of a move, a shift in your niche, networking with a new group and so on.

Clients have asked me how to shore up and strengthen their professional confidence, especially as it relates to being in the public eye. I can relate because when I was first starting out, I struggled with this myself. Here’s what I did to build my self-worth and confidence.

1. Start a “Kind Words” file

Any time a client sent me a really nice email, a testimonial or thank you note, I saved it in my “Kind Words” file. On rough days, when I was starting out and was questioning my self-worth and value and wondering why everything seemed so hard, I would read through the file. In fact, there was a time when I read the file on a daily basis to remind myself of the people who were getting results. This gave me confidence to move forward  to the next day.

2. Practice speaking in public

BNI is not only a great networking opportunity, but also a great place to practice your elevator pitch on a weekly basis. When I was first starting out, my face would get bright red so I looked like a lobster when I said my 30 second commercial. My heart would beat so fast I could hardly hear what I was saying and my hand shook so much I didn’t want to hold a glass of water fearing everyone would hear the ice clinking.

But each week at BNI, I had to get up again and again and I didn’t give up. Now I speak in front of 1,200 people and have my own three-day seminars. The more you do this, the better you get.

3. Talk about what you know in your heart

I have found that the times I’ve gotten really nervous speaking in public, I was more concerned with what other people were thinking about me than focusing on what I love to talk about. It’s marketing and mindset stuff.

So, if you feel yourself getting nervous, that’s the time to sink into your content. You know what you are doing and you are good at what you do. So sink into your content and own it. And, realistically, if “they” don’t like it, who cares? Practice talking about your topic and speak about what you know really well, and you will be alright.

Your Client Attraction Assignment

If nothing else, start your “Kind Words” file the next time you get a nice note from a client. Look back in your email files as well to see if there are any additional kind words. Start building your file and reviewing it to strengthen your professional confidence and remind yourself of the difference you are making in people’s lives.

Now, if you’re just starting out and trying to fill your practice in the FIRST place, then follow a step-by-step system that feels easy and authentic to you. The Client Attraction Home Study System™ gives you the most important things to do to set up simple, solid systems, so that you consistently fill your pipeline and continually get new clients. It’s all step-by-step, not a big mishmash of things. So, you do step one of the system, and when you’re done with that, you move on to step two, and so on. All the tools, scripts, templates, and examples are handed to you on a silver platter. Easy. You can get it at TheClientAttractionSystem.com.

As a new coach, you might find yourself struggling with choosing your niche. From a marketing perspective, this is a very important step. But if you are just out of the gate, you may be feeling like you can help so many different kinds of people and are confused about which way to turn.

I’m going to let you off the hook for a short time. I once heard Thomas Leonard, the founder of CoachU and Coachville say “Coach 100 clients and then you will find out what your niche is.” So for right now, you can decide NOT to pick a niche.

I do recommend that you decide on the general direction for your practice. When you start networking and talking to people about what you do, if you at least have an overarching theme it will help people get a better understanding of what you do and who you can help. For example, you will want to decide of you are a small business coach, life coach or relationships coach. But within that, you don’t have to know this minute the exact niche you’ll be focusing on at first.

Sometimes people have multiple talents, skills and interests and it will take time to settle on where you feel the strongest. Giving yourself time to gain experiences with clients will make a tremendous difference in figuring this out. So, as an example, if you want to coach people on time management, organizing, health and maybe wellness, life coaching would be a good catch all.

As your practice grows and you gain experience, your niche will start to reveal itself. Once it does, let the other options fall away and focus your attention on developing that niche for all it’s worth.

Your Client Attraction Assignment

If you are a relatively new coach, make a list of all the coaching topics you feel attracted to and competent in. Then take a look at that list and see if there are any groupings that form naturally. If there aren’t, that’s OK too. Next, start getting clients for these areas and see what you discover about your coaching potential.

Now, if you’re just starting out and trying to fill your practice in the FIRST place, then follow a step-by-step system that feels easy and authentic to you. The Client Attraction Home Study System™ gives you the most important things to do to set up simple, solid systems, so that you consistently fill your pipeline and continually get new clients. It’s all step-by-step, not a big mishmash of things. So, you do step one of the system, and when you’re done with that, you move on to step two, and so on. All the tools, scripts, templates, and examples are handed to you on a silver platter. Easy. You can get it at TheClientAttractionSystem.com.

When you are working to bring your business to the next level, building your list becomes a crucial element of your marketing efforts. One powerful way to do this quickly is by hooking up with big joint venture partners.

Who Should You Partner With?

When seeking joint venture partners, look for:

• Businesses that serve the same ideal client
• Coaches who focus on a different aspect of business than you
• Companies with synergy where you can both benefit or build on each other’s work

Think about partners who you already know about, who you follow, who you admire. Those are the best business owners to start with. In addition, review your list of contacts to discover who you could ask for recommendations of partners. Lastly, look through your LinkedIn connections to see what you can leverage there.

How to Pitch Your Idea

Remember when you make your pitch, highlight the benefits of your relationship from “their perspective”. It all goes back to the idea of “What’s in it for me?” just like with your ideal clients. When writing your pitch, don’t go on and on. Get to the point quickly so there is a better chance your pitch email or letter will be read and considered.

Enticing Big Partners

There is a lot of truth in the statement, “Money talks”. When I was first trying to set up these joint venture opportunities, I wasn’t providing enough incentive. The bigwigs in our industry aren’t likely to pay attention until you start offering commissions like $500 – $1,000 per purchase. You have to make it worth their while, because the truth is, they don’t really need you. You need them to build your list. Once you are willing to compensate partners at this level, they will start coming out of the woodwork.

Are you wondering how you can afford to do this? To determine the value of a new client, think about the average fee your clients pay over the length of your relationship. Looking at the commission from this perspective helps you realize its well worth the price. In addition, your partner is endorsing you by sharing a call which helps attendees to trust you more quickly. And that has tremendous impact for removing some of the barriers for callers to make a purchase.

Your Client Attraction Assignment

Who do you know that would make a great JV partner? Think about what type of expert will provide good synergy with your business. Check your LinkedIn account and consider your current contact list for additional options. Make a prospecting list and a plan for contacting them.

Now, if you’re just starting out and trying to fill your practice in the FIRST place, then follow a step-by-step system that feels easy and authentic to you. The Client Attraction Home Study System™ gives you the most important things to do to set up simple, solid systems, so that you consistently fill your pipeline and continually get new clients. It’s all step-by-step, not a big mishmash of things. So, you do step one of the system, and when you’re done with that, you move on to step two, and so on. All the tools, scripts, templates, and examples are handed to you on a silver platter. Easy. You can get it at TheClientAttractionSystem.com.

We can also connect together on Pinterest here.

Image Credit: Fathima Kathrada