Video recommendation: “How do I raise prices without losing clients” by The Futur

Click on the image or see the video here

A helpful video by the Futur on the challenging topic of pricing or raising prices. In the conversation are Chris Do (the Futur), Joel Pilger (business coach), and Maryia Bulka (illustrator). Among other things, they talk about how to raise the pricing for existing and new clients, and there is an exciting role-play between client and contractor. The following stuck with me:

“Position yourself as an expert, not as a service provider” – Joel Pilger

The more we immerse ourselves in a particular area, a niche, the more advantages we gain. Our position in price negotiations improves because of our expertise. An expert is harder to replace than an all-rounder.

“Before I even start talking about price, I’m asking, “What’s your deadline?””– Joel Pilger

A helpful and time-saving tip for all involved. I would also add the usage of the work here. It’s a crucial difference if, for example, an illustration is used for a small postcard campaign or sold on thousands of t-shirts worldwide (more on this in another post). The deadline also gives an immediate impression: How fast do we have to work, how much do I have to work, are there night or weekend shifts? Knowing this from the beginning is a prerequisite for a binding offer calculation. In this case, we add a rush fee. 

“We don’t have to feel guilty about charging for our work” – Chris Do

This can get to us, especially in our first negotiations with clients. We love our work so much that we feel guilty about charging for it. After all, it usually doesn’t feel like work to us. However, as we gain experience, this complex quickly fades. We realize that we can offer our customers added value especially because we do it with passion and love. In “The Dark Knight” even the Joker says: “If you are good at something, never do it for free.” (although this character might not be the best mentor to us ;))