Double your fees
My copywriter, John Fancher, makes about 30 times as much money as a consultant than he did 10 years ago when he first started working with me doing a few emails here and there.
Not a bad income trajectory.
How did he increase his income so dramatically?
Well, about every two years, I’d send him an email or a text with 3 simple words…
“Double your fees.”
And here’s the key: He did it.
What happens when you double your fees every two years for 10 years?
Yup, that’s more than a 30X increase.
Marco lives in a small town in Australia you’ve never heard of. The nearest big town is Brisbane and it’s more than 150 miles away. I Googled every conceivable spelling of Marco’s hometown and got…nothing. That’s how small this place is.
And running a one-man consulting show from your “cave” out in the middle of nowhere can be tough…
I’ve been a consultant for about two years now and I’ve been struggling getting traction. I didn’t have problems getting clients but they were all small. They didn’t have a lot of money. And for the most part they weren’t paying any attention to what I was suggesting they do and therefore they weren’t getting the results they were expecting.”
When you don’t charge enough, clients rarely do exactly what you say.
And they don’t get the results you promised them.
And they stop writing you checks.
That’s a vicious cycle of consulting futility that you must avoid. And the easiest way to do that is to raise your fees…
How Marco Turned it Around
Marco did a lot of things, but one of the things he did was raise his prices. And…
I had two big wins. It gave me the confidence to approach one of my customers and ask for a big deal. And the client liked the idea and we’re going ahead with that.
The second customer was the biggest deal I’ve ever had.
Charging higher fees is virtuous cycle. The more you make, the more money you have to spend on finding more great clients…who will pay you even more!
‘But, Perry, I can’t just double my prices!’
Yes, you can! But only if you’re qualifying prospects like I taught you in my last blog post! You are doing that, right?
Your homework for today: Double your fees.
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