#316 // Why You Should Raise Your Rates On July 1 (Part 2) with Greg Crowe
About this episode
The episode discusses the importance of raising rates and maintaining strong client relationships while communicating these changes effectively.
July 1 is coming up, and there really is no better time to consider a rise in rates + margins. Today we discuss 7 key items that will help you in your decision. Good / Excellent Relationships With Clients Is The Key Can you have hard conversations with your clients? Can you talk money with your clients? If you can’t, how strong is the relationship? Life, and business, is all about building relationships A good relationship is built on mutual respect, trust, transparency etc Don’t be scared to fill them in on what’s going on Avoid The Generic Email, Go And See People Or at worst case call them Imagine if someone is having a bad day, or your relationship is already on the rocks, and they get an email about your price rises Delivering the news in person you can gauge their emotions + also communicate effectively Definitely for all your major clients, everyone else can be just told along the way A generic email to 1000 clients should be absolute worst case scenario. Think Of What This Actually Means For Your Clients A GPO might go up $10-$15+ A 4 hour job might go up $40+ It’s honestly not that big of a deal Think Of What This Actually Means For Your Business Charging an additional…
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