Well, another year’s flown by. Those of us who are professional service providers are in the annual December sprint to wrap up projects, close the books, and carve out a few precious days to spend with family and friends.
It’s also time to start looking ahead to 2015, to new beginnings, and to new ways to take our businesses to the next level. I love a fresh start. I’m filled with anticipation every time I open a blank excel spreadsheet. As a revenue management professional, my mind immediately goes to revenues and pricing strategies.
And the New Year is a natural time to bump up your rates. After all, whether you’re an accountant or an architect, a designer or a personal trainer, a lawyer or a project manager — there’s no denying that we’re all a little bit older and — hopefully — a little bit wiser. We’ve learned new ways to solve problems, capture opportunities and get things done. Which makes us more valuable to our clients than ever.
So I encourage you to reflect on these seven rules-of-thumb as you consider how best to capture higher fees for your services in 2015:
▪ Don’t start off talking about price. When you do, you run the risk that your potential clients will quickly determine that they can’t afford to use you. Never talk about price until you’ve demonstrated that your clients can’t afford to not use you.
So let’s sprint across the 2014 finish line, take some well-deserved time for renewal and self-reflection about our businesses, and keep these seven pricing tips in mind. In the New Year may we put all of our talent and experience to work for our clients and may we capture our fair share of the greater value we create.
Adam Snitzer is a revenue strategy expert and president of Peak Revenue Performance, a consulting firm that specializes in designing and executing innovative pricing strategies. He can be reached at email@example.com, or via the company’s website at PeakRevenuePerformance.com.