How to be confident with your rates.
Free time or figures?
One of the biggest struggles I’ve discovered with entrepreneurs — including myself — is how to be confident with charging clients.
Questions to consider as you contemplate raising your rates:
How much is your precious, limited time worth?
Your precious energy and health?
How much can you give to others without burning out?
What is your daily definition of success?
If you’re in any type of wellness service, it is your time/energy/presence that you offer a client.
What is that worth?
Your rates will bring up every insecurity and unworthiness you have around money.
Whatever the amount you charge, someone will pay it. However, your rate needs to comfortably reside in yourself before posting it on your calendar. You may want to make $400/hr — but if $50/hr is what you inwardly believe you deserve, you won’t get many clients or feel undeserving when the few $400/hr do arrive.
Out of the many clients on my roster who are successful entrepreneurs, there is only one who truly has no issue with money — whether it comes, goes and circles back. EVERYONE else, including myself, has blocks around receiving money. Working for yourself is an amazing way to heal those self-created limitations.
When I work with these clients, I often see that their rates — in my opinion — are not equal to what they offer. However, as much as I urge them to raise their rates, they can only do so when they feel it’s the right time — and are ready to receive that bump with income.
It’s no surprise that some healers feel this insecurity and doubt. Many have been raised in abusive environments and carry a sense of unworthiness and survival tactics. Add the cherry on top of a pervasive societal view that healers/psychics should offer services for free and you can understand why it would be difficult to consider earning a healthy wage for your work.
I didn’t start at $259/hr. It was $20 — nearly 20 years ago. Even then it was hard to believe that someone would spend $20 on a session. I gradually raised rates when I started to:
value my time
improve my reads
heal my sense of unworthiness and guilt
have a strong commitment to eradicate my debt
When you consider your rates, it’s not only minutes with clients. It’s also evaluating the enormous amount of time that goes into a business and the numerous tasks required as a sole proprietor (short version: everything).
Rasing your rates is a great vetting process and some clients won’t continue on the path with you. That’s normal — we outgrow each other. New clients will find you and have no issues with your rates because that’s their starting point.
Clients value your work because you provide value for their life.
I’m stressed. Maybe I should raise my rates??
Each time my rates changed, I was afraid that clients would bail. Some did. In the 2nd quarter of this year, I’ll slightly increase my rates. Will I be a little nervous? Yep — but still carry through with the hike. Why? Because it’s time and I deserve it.
I could choose to adjust rates today — but that would be a mistake. NEVER raise your rates under pressure to pay bills or taxes. That comes from a place of fear and would result in an even lighter calendar or clients who are not aligned to your work and demand their money back. Do it when you feel confident and your business is flush because then it will be a natural flow, rather than sweating it out.
Shouldn’t I just keep rates low to attract as many clients as possible?
Perhaps in the beginning to grow your list, if you’re able maintain balance. Yet which mechanic would you choose to fix a problematic issue with your car? A beginner — or a master? Most would pick the experienced one, unless saving money is top priority and they go with a newbie. With that choice comes greater risk.
An ethical master mechanic dedicates years/time/classes/ failures/stress/financial worries/hands on practice to charge what they do — and are worth the price because they worked for that stellar reputation. They won’t waste time billing you for problems that don’t exist or create even more so that your car is in the shop for a month. They’ll get to the issue and correct it.
Masters never stop learning — they simply continue to hone their craft to better themselves and you.
My definition of success is free time, not figures. What’s yours?
When I dreamed about being successful, it was having TIME. Free, open time without the pressure of showing up for work. Charging a higher rate means I have a lighter calendar and don’t suffer from burnout. I have flexible, daily hours, time off, remote work and an easy job, for the most part.
Erasing debt made it even sweeter — because there isn’t the pressure to make a certain amount to pay off endless bills. I live a simple, enjoyable life. Money provides the ability to enjoy free time in the ways I desire. However, I’m in the midst of a stressful 1st quarter in Shivaya Wellness — c’est la vie — which also creates plenty of time. So my wish is granted, either way!
Some crave +++++++ figures. Great. Not my jam. I’m well aware that my existence here is very short and when my brain stresses over tax bills and the like, I quickly reroute it with a simple talk.
Enjoy your life. Be here now, girl — because you only have a few decades left. This is not worth a moment of stress.
Stick with your business through the easy and the rough times — and you will be rewarded.
Your rates naturally grow as you revisit your definition of success, dedicate yourself to your work and appreciate every person and dollar that finds its way to you.