Are you charging market rates? 27 Mar 2013

RECENTLY we heard a story of a professional man whose charge-out rate was way lower than the others in his profession. He bit his bottom lip and hiked the prices 33% in one go.He lost no customers.

He was lucky because big price hikes are generally asking for trouble. When did you last review your charges? Are you up with the market? Little and often is generally better than a big catch up. No-one likes a nasty surprise.

In this economic environment, it is often difficult to ask for more. For big customers, be extra careful. It might help if you were to ring first and make it clear the price increase is merely an adjustment to get back to where you were. Hopefully, you can get your customer to agree to the adjustment on the phone.


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