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Small Business Owners Should Raise Their Rates

Many small business owners hesitate to raise their rates so they can get paid what they are worth. They may not feel like taking a “sales” approach aligns with their mission or personality.
Raising rates is necessary in today’s business climate, so it’s worth your time to figure out a way to do so without losing the ability to feel great about your work.

It’s important to align your services so that you bring real value to your customers. Choose a few things that you do well and focus on leveraging those offerings to create more income. Focusing helps owners solve a concrete problem and charge a premium price for that specific service. Marketing is a huge part of running a successful business, but many people are uncomfortable with the process of self-promotion. For this reason, it’s crucial to understand your comfort levels and choose marketing tactics that align with your personality. If connection and interaction are priorities, make your marketing efforts targeted and personal.

Narrow your marketing efforts so that you are using 20% of your current sales efforts to achieve 80% of the results. Dump marketing tactics that don’t offer great results. Working toward focusing the services you offer and aligning your promotion methods with your personality will help you raise your rates so your clients pay a fair price for your services.

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