Mentor told me to double my prices overnight - I laughed until I actually did it

An older business coach I met at a networking event in Austin kept telling me my prices were too low for the value I was providing. I run a small cleaning service for commercial offices, and I was charging $25 an hour. He said bump it to $50 an hour, no warning, just do it. I thought he was crazy and ignored him for like 3 months. Finally got the guts to try it on five new clients I was quoting, and three of them signed immediately without even blinking. My existing clients didn't bat an eye either when I adjusted rates for the next contract renewal. I literally left $15,000 on the table over those three months because I was scared to charge what I'm worth. Has anyone else had a gut feeling about pricing that you were too scared to follow through on?

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elizabethg1827d ago

My neighbor runs a landscaping business and had the same thing happen. He was at $30 an hour forever. Then his accountant told him to jump to $55. I thought it was crazy. But he did it and actually lost zero customers. Some even said they were wondering when he'd raise prices because other guys were charging more. Honestly made me rethink my whole stance on pricing.