Raise Your Rates Worry-Free ft. Dr. Marie Fang
In this video, I talk about how to raise your rates worry-free if you are a service provider like a therapist or coach. This video was made in collaboration with Dr. Marie Fang. She is a California therapist in private practice who offers a lot of actionable advice for those in private practice. In her video, she's talking about the things she sees that specifically hold therapists back from charging their worth on her channel.
Here are the four emotional reasons you might not be raising your rates and ideas to help you overcome those worries.
Imposter syndrome
Imposter syndrome is one of the biggest problems I see when it comes to service providers not raising their rates. Imposter syndrome is the idea that you are a fraud or got to where you are professionally by mistake. I challenge you to remind yourself that you got where you are because of your skills and knowledge.
Worried About Feeling Pushy
Another fear is the fear of being pushy or sleazy. Lead with your value before leading with the price. Tell potential clients what problem you will help them solve. Whether it's time with your product or a product you sell, show them what your product or service can help them do that they cannot do on their own or would be a challenge to do on their own.
Fear of Charging for Something You Enjoy
Lots of people are anxious or worried about attaching a fee to doing something they enjoy. It can feel strange to charge for something that you don't mind doing. Remember that something that comes naturally to you could be someone else's biggest pain point.
Worrying About What Others Think
Fear of losing clients, fear that you won't get new ones or the fear of worrying about what others will think if you raise your rates is common. Remember, this is quality over quantity. Providing a high-level service to 5 people instead of 20 is going to be worth it. Research shows when we spend more money on a product or service; they tend to work harder to get more value out of it. This isn't me saying raise your rates as high as possible with no reason behind it, it's about protecting your space so you can serve those you are most called to serve.
What else is holding you back from raising your rates as a service provider? Raising your rates might be the first thing on your path of financial wellness.
Top 5 Free Resources for Private Practice Therapists
My free guide includes my top five resources to help you fill your practice. It includes how to develop self-trust so you can take aligned action in your practice; niche down to call-in clients you know you can serve; market without the ick as a modern therapist; set your fee so you can pay your bills, take time off, and create a thriving practice and creating a schedule that works for your needs and energy. Grab it here.