Want to Make More Money? Fish in a Bigger Pond!

Written by Kimberly Stevens


Continued from page 1

Now,repparttar current clients arerepparttar 117595 ones you are likely most afraid of. What will they say? Will they never want to work with you again? The best time to raise prices is atrepparttar 117596 beginning ofrepparttar 117597 year, either calendar or fiscal, or atrepparttar 117598 beginning of a new contract with an existing client. Never try to negotiate a price increase inrepparttar 117599 middle of a project. If a project is taking significantly more hours than you quoted for a reason out of your control or its directly withinrepparttar 117600 client's control, you can consider discussing it with them. However, if you want to be sure to maintain positive client relationships, you may choose to learn your lesson from this one and protect yourself with a contract that outlines contingencies such as that going forward. But, in most cases, never try to increase your hourly rate on a client inrepparttar 117601 middle of a project. This sends a message that will likely get yourepparttar 117602 response you most fear - that you are a money-hungry so-and-so who only cares about him or her self.

Instead, wait until a natural beginning, ending, or transition period to communicate your price increase. One way to do it is to send your client a beginning ofrepparttar 117603 year letter that expresses your appreciation of their business inrepparttar 117604 prior year, outlines any policy changes you've made forrepparttar 117605 coming year, communicates your price increase, and states your anticipated pleasure of working with them inrepparttar 117606 coming year. If you are raising prices atrepparttar 117607 end of one project and are about to bid on another project withrepparttar 117608 same client, during your discussions tell them you have raised your hourly or project rate and hope they still find it to be competitive and will continue to work with you since you've really enjoyed collaborating with them.

Notice you did not hear me guarantee you will keep every single one of your current clients. Like you, your clients make purchasing decisions based on a variety of factors, each person weighing each ofrepparttar 117609 factors differently. If you've beenrepparttar 117610 lowest price available in your field, you've no doubt attracted clients who make decisions based mainly on price. Increasing your price so you are no longer "the low-price guy", may send them packing. So be it. Once you raise your prices to a respectable rate you can profit from, thats competitive and fair, you will begin to attract clients who will pay it. It's all about positioning. You can position your company asrepparttar 117611 low-price guy,repparttar 117612 top-of-the-line guy, orrepparttar 117613 value guy (middle ofrepparttar 117614 road price with a quality service).

The lesson here ... its your business and your revenues are what you make them.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Kimberly Stevens is a business coach who works with business owners who want it all a joyful personal life and a meaningful and profitable business. Her web site http://www.askthebizcoach.com offers weekly TeleTalks on business topics, a discussion board, business assessments tools, and an ezine addressing business challenges from a more personal angle.

Kimberly Stevens is a business coach who works with business owners who want it all a joyful personal life and a meaningful and profitable business. Her web site http://www.askthebizcoach.com offers weekly TeleTalks on business topics, a discussion board, business assessments tools, and an ezine addressing business challenges from a more personal angle.


Want More Money & Less Stress? Set Some Boundaries!

Written by Kimberly Stevens


Continued from page 1

By usingrepparttar How We Work Together document, you can begin settingrepparttar 117594 stage for productive client relationships from your very first contact with a new prospect. During your first meeting, give them a copy ofrepparttar 117595 document and go through it with them. When I ran my web development company, mine included a rough timeline for each stage ofrepparttar 117596 project and described howrepparttar 117597 responsibility shifted from me to them and back again throughoutrepparttar 117598 process. It also included a description of consequences should particular stages ofrepparttar 117599 project go beyondrepparttar 117600 timeline by a specified amount of time. This applied to me as well as them. People like to know what to expect. It left them feeling that I had a system I followed and could be relied upon to do what I was proposing to do. I feel confident that this is one ofrepparttar 117601 reasons I got 90% ofrepparttar 117602 projects I pitched.

I usedrepparttar 117603 How We Work Together document again once I had receivedrepparttar 117604 signed contract and deposit payment. At that point, I would consult my project calendar and assign specific dates to each stage ofrepparttar 117605 project included onrepparttar 117606 document and mail it out torepparttar 117607 client. They had already seenrepparttar 117608 document once, so it wasn't new to them. Now, they just reviewedrepparttar 117609 dates and used it as a follow-up tool.

If you are currently in a similar situation, handle it as best you can in order to preserverepparttar 117610 client relationship and introducerepparttar 117611 How We Work Together document atrepparttar 117612 beginning ofrepparttar 117613 next project with this client. To begin to set boundaries with all of your clients and prospects, create your own How We Work Together document and utilize it in every new project for new and existing clients. You can see an example of one I helped a client write at: http://www.askthebizcoach.com/freebiesignupform.htm

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Kimberly Stevens is a business coach who works with business owners who want it all a joyful personal life and a meaningful and profitable business. Her web site http://www.askthebizcoach.com offers weekly TeleTalks on business topics, a discussion board, business assessments tools, and an ezine addressing business challenges from a more personal angle.

Kimberly Stevens is a business coach who works with business owners who want it all a joyful personal life and a meaningful and profitable business. Her web site http://www.askthebizcoach.com offers weekly TeleTalks on business topics, a discussion board, business assessments tools, and an ezine addressing business challenges from a more personal angle.


    <Back to Page 1
 
ImproveHomeLife.com © 2005
Terms of Use