New Venues and New Dates
Ashford
Change from Boys Hall to The Conningbrook Hotel, Canterbury Road, TN24 9QR from 2 October
Tonbridge
Change from Hadlow Manor Hotel to The River Centre, Medway Wharf Road, TN9 1RE New venue from 14 August, 9 October, 13 November, 11 December
Chatham
The Innovation Centre, Maidstone Road, ME5 9FD
18 September, 16 October, 20 November
Sittingbourne
The Coniston Hotel, 70 London Road, ME10 1NT 28 November
It is very likely that most professionals under charge for the great service they provide. Either they have little confidence in the value they provide their clients or most likely they do not want to overcharge for fear of losing a prospective or regular client.
However, charging the lowest price of your competitors may do more harm than good to your reputation. A price that is significantly below market value sends out a message that it may not always be good. Sometimes the cliché; ‘you get what you pay for’ springs to mind.
Increasing your prices periodically is a reasonable and good strategy for any growing business. So how can you actually implement a price increase?
1. Believe that you are worth it
If you don’t believe how much you are worth, your can’t expect your clients to feel impressed with your prices or reasoning behind the increase.
2. It’s really not about you, it’s about your clients
You have to stop thinking of the service you provide as a cost, but more of the benefits you provide to your clients. Your clients come to you because they need your help and expertise. If they are regular or intermittent clients then they are obviously very content with the service you provide.
3. How to increase your prices
Obviously for your regular clients maybe a few months notice would be helpful, so that gives them a chance to reflect on the increase and also time to adjust their budget/spending if necessary.
If you explain why you are rising your prices, i.e. due to increase in travel expenses, commodities, materials etc, it shows you are being reasonable and are not just increasing your profit margin. Like everything if you explain the reasoning behind it, it usually sounds reasonable. After all everybody’s expenses and costs gradually rise in business over a period of time.
After having the courage to increase your prices you will be amazed at how receptive most of your clients are and rarely question your reasoning or price increase. This can make you ask yourself; ‘Why didn’t I do it earlier’?
Recent research from marketing and PR recruitment firm Major Players found that 42% out of 1,000 people surveyed, said having more options over the type of work they do and how, is what attracted them to setting up on their own. Only 19% said they were motivated by more money.
The worst part of being a freelancer is the period of stagnation between contracts (a problem highlighted by 40% of those questioned). I’m sure every freelancer or sole trader can relate to that. We would all prefer to have a constant stream of work all the time, but then again it’s nice to have a few days or a week’s rest now and again, especially if when we are working it is hectic.
A quarter were concerned about income security – which could occur if contracts were cancelled or not renewed. Other drawbacks include not being able to take part in the social aspects of working with others although it does depend on what type of freelancer you are. In my case I do both; work on my own at home or work on-site whichever is best suited to my client at the time. So there are other options. However in the freelance’s favour; the worker gets away from internal company politics and it gives them the freedom to make their own decisions and choices.
Recent figures released by the Professional Contractors Group (PCG) show that the freelance market has grown by 12 per cent over the past year.
Breakfast with Business – Tonbridge 12 July, Dartford 17 July , Canterbury 25 July
Lunch with Business – Sittingbourne 10 July, Maidstone 11 July
Women’s Networking Lunch – Canterbury 4 July
After Hours Club – NEW venues and new dates
Tonbridge – Change from Hadlow Manor Hotel to The River Centre, Medway Wharf Road, TN9 1RE
14 August, 11 September, 9 October, 13 November, 11 December
Medway – The Innovation Centre, Maidstone Road, Chatham, ME5 9FD
18 September, 16 October, 20 November
Lunch Networking with Business These lunch time events, slots neatly into the business day and provides the ideal opportunity for you to meet fellow professionals, grow the profile of your brand and to build new business relationships. Join us for a delicious lunch and lots of networking
12.00 pm – 2.00 pm
Canterbury (Abbots Barton) – Thursday 19 April 2012
Gravesend (Southern Valley Golf Club) – Wednesday 25 April 2012
Maidstone (Hamlets) – Thursday 26 April 2012
Gravesend (Elite Venue Centre) – Thursday 24 May 2012 >>
£20.00 + VAT (Kent Invicta Chamber Members) £25.00 + VAT (Non Members)
