A198 - What’s a polite way to tell existing clients you are raising your rates? And what is a reasonable percentage to go up? - a podcast by Jason Resnick

The end of the year always has us looking at revenue numbers doesn’t it. It’s also a great time of year to reevaluate our prices.

January 1 is a great time to also create deadlines and launching pads for yourself and clients as well.

Inside of the Sustainable Freelancer FB group, Meg asked this questions.

I can only presume that she’s done what so many of us business owners do this time of year.

Because it was such an awesome question, I thought that I’d share it with you in today’s episode, in case you have thought about this too.

I'll answer the latter first. Double it! Especially if you are sub-100 per hour.

Chances are that you are under charging and under calling your work.

Years ago when I was told to double it I thought "no way" but I trusted them since they were where I wanted to be and did so. Best decision I made.

If you get push back from all clients you can back away without too much issue saying "since you are a great customer, I can do 1.5X and then next year the 2X rate will go into effect."

To answer the first part of the question, give your existing clients a period of time to either come on board or move on.

If they decide to move on, that's fine because your rate is higher and need less to make the same.

Any potential new clients coming on board get your new rate today.

No need to wait or anything, they get the new rate today.

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