Hi and thanks for your question.
The key to increasing your prices is to make the decision, and then ensure that you give more in value than what you charge.
It’s that simple.
I’m not sure what line of business you are in, but I’m going to use a service-based business as an example here.
Let’s take a look at restaurants. There millions of restaurants out there, and if you look at the really successful ones, you can learn a lot.
Successful businesses all have one thing in common.
They all have a unique selling proposition.
Your unique selling proposition sets you apart from the crowd.
It’s what makes you unique, and if you are unique, you won’t have to be concerned with competition.
Let’s go back to the successful restaurant.
A unique selling proposition for a restaurant may be that they specialize in one particular type of food, maybe they only use farm to table ingredients, maybe they have live piano music playing during dinner or maybe you can throw peanut shells on the floor.
Whatever it is, it is designed to SET THEM APART FROM THE CROWD.
To find your unique selling proposition, think about what makes YOU unique.
What services do you offer that make what you do extraordinary?
Once you can identify your unique selling proposition, you won’t have to be concerned with competition, and you can no longer use it as an excuse to charge less than what you are truly worth.