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Published May 11, 2018

41: How to Charge What You’re Worth | Feedback Friday

Explore effective business strategies with Jordan Harbinger and Jason DeFillippo as they discuss how to confidently charge clients your worth, build professional connections during personal transitions, and navigate cultural nuances in social interactions. Gain valuable insights on improving professional relationships and understanding evolving societal norms.
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  • Client Payments

    Maintaining firm business practices is crucial when handling client payments. emphasizes the importance of being firm with clients who are late on payments, suggesting a one-strike rule to prevent habitual lateness 1. He advises that if a tenant or client is late with payment, it's essential to confront them and ensure they understand the seriousness of the situation. shares his experience with a tenant who was late on rent, highlighting the need for a balance between firmness and understanding 2.

    If someone's late with a payment in your business, and make no mistake, being a landlord is a business, then you should treat it like a business and be firm right off the bat.

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    This approach helps maintain a professional relationship while ensuring payments are made on time.

       

    Service Rates

    Increasing service rates can be challenging, but it's necessary for business growth. discusses strategies for raising rates while maintaining client relationships, such as providing transparency and notice to clients 3. He suggests informing clients about the reasons for the increase and offering referrals to other professionals if the new rates are beyond their budget. shares advice on how to communicate a price increase confidently, emphasizing the importance of transparency and setting a clear commencement date for the new rates 4.

    Most people will gladly pay additional funds to retain someone who does a good job and who they can trust.

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    This approach ensures clients feel valued and informed, reducing the risk of losing them due to sudden changes.

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