Even during prosperous times, it’s suprising to hear this. Yet, even in an economic downturn, some customers will tell us, “I have more business than I can handle.” Some think that’s a good thing… while others are overwhelmed by it. When we tell them that they ought to “raise their prices,” we often receive a puzzled stare back in response.
The website FreelanceSwitch has posted a list of the “Top Ten Signs You May Be Charging Too Little.”
10. Your clients mistake your daily rate for an hourly one.
9. You’ve won every job you’ve ever bid on.
8. Even though you work 80-hour weeks, your income level qualifies you for welfare payments.
7. New clients are always asking what “the catch” is.
6. Clients pay your invoices in cash from their wallet.
(You can read the rest here.)
The Marketing Blogspot has an interesting and informative post on the concept behind how raising prices can actually bring you more business. The author says that most people believe that raising prices equals less business because fewer people will want to do business with them – when the exact opposite is actually true.