The trouble with raising your prices is the fear that always sits in the back of your head. I really struggle with it. One time I went to type a price on my website and my fingers literally froze. In the end I just left the price unsaid (and then, as ever, marked myself down when writing proposals).
(By the way, if you want a software project, I have strict criteria for the type of work I do and it’s £8000 for a prototype. I don’t actually do much software any more though; I’m all about teaching hashtag#profitfirst – price for that in the comments).
The thing is there’s always someone who will pay the higher price if you understand what they’re looking for. Why do some people have a mansion when a three bedroom semi would do? Why do some people own a Lambo when a Golf GTi is made by the same company? Why shop at Flannels when Primark is down the road?
If you know exactly who you target and what their problems are, you can charge more than everyone else. Because you’re not just selling a service, you are selling THEIR service. One that’s designed exactly for them.
So Step 2 of growing your business is “specialise”. Because it allows you to do better work in less time for more money. And that’s got to be a good thing, right?