Raise Your Rates To Create A Viable Business

The Challenge

After many years of having her own architecture firm, my client Jill was still lowballing her fees and not analyzing the time she put into projects. As a result, she was overworked, losing money on her projects and starting to wonder how she ever got herself into this business in the first place. Jill was also concerned that if she raised her rates, people would think she was cheating them.  

The Insight

When I began working with Jill, we did market research, a cost analysis, and quickly determined by how much to increase her fees in alignment with market value. She also took a stand for the excellent service she was providing and came to the realization that if a customer could not afford her rates, then they were not her ideal customer.  She is not a charity, she’s running a business. Right?

The Result

When we work with clients more closely, we do an in depth analysis of your workflow and charges to ensure you are not selling yourself short and that you are making a profit as well as a good salary for what you do. Like Jill, you need to be charging the right rates to ensure you have a viable, long-lasting business.