Totally, just like Vanessa advised, increasing rates starting with new clients is easier, but always runs the risk of losing old clients when trying to do the same... which I guess validates her point about budgets and picking clients.
Really solid framework on breaking the underpricing cycle. The piece about reshaping the job instead of discounting is smart because it keeps value anchored to deliverables. I ran into this alot early on where scope creep destroyed whatever margin was left. Picking clients on purpose feels like common sense but took me way too long to actually do it.
Great drop thanks Vanessa!
Glad you enjoyed the piece, Ivan! And thanks again to Vanessa for her contribution.
Resetting rates isn’t about greed; it’s about protecting your margin, your energy, and the quality of the work you can deliver.
Totally, just like Vanessa advised, increasing rates starting with new clients is easier, but always runs the risk of losing old clients when trying to do the same... which I guess validates her point about budgets and picking clients.
Really solid framework on breaking the underpricing cycle. The piece about reshaping the job instead of discounting is smart because it keeps value anchored to deliverables. I ran into this alot early on where scope creep destroyed whatever margin was left. Picking clients on purpose feels like common sense but took me way too long to actually do it.
Agreed, it can sound common sense, but until you implement it, it just doesn't register.
For scope creep and budget, I was using a similar strategy for ads, where I was adjusting the period or number or slots in order to fit the budget.