Hi there, Motherhood Photographer! I see you over there, hustling and wearing all the hats. You KNOW it’s time for a change. Time to raise your prices. But gosh, it can feel like such a leap to ask your clients to invest more with you. But you got this! And I am here to help! Below, I have included my best tips for how to mentally prepare to raise your prices.
What is Your Cost?
If you haven’t already, to mentally prepare to raise your prices, please take a minute to calculate your COST of doing business using the calculator on this free resource. All of the thoughts written below are fabulous, however, for me, I really only needed to know that I wasn’t going to be out of the “red” until I hit $xx. Most importantly, if you are breaking even or at a loss each year, the business is no longer worth pursuit. Moreover, running a business means making choices that will allow you to KEEP running your business. Lastly, nothing will serve your clients better than your continued ability to be in business to capture their memories year after year, telling their life’s story one session at a time.
Know Your Worth!
To mentally prepare to raise your prices first you need to know your worth! First, there is something about your artistic style that has already drawn countless clients to choose you as their photographer! Next, the way you photograph your clients is replicated by no one else! Additionally, remember that you have something to offer that no one else does! Also, recall the dedicated efforts you’ve worked and the obstacles you’ve overcome to build your business to what it is today! I know you’re working early in the morning, late into the evening, and on the weekends you’re putting in double time! With all this in mind, considering all of these variables, you need to feel confident!
Oxford Languages defines confidence as “a feeling of trust in one’s abilities, qualities, and judgement. Like anything in life, the more you practice a skill the more confident you become. You continue to put in the work and practice your craft now it is time to trust your abilities, qualities, and judgement. Be CONFIDENT!
Every action has a reaction, each input has an output, and all decisions have impacts! I know you have heard all of these phrases before! Guess what… They all apply to your business! When you raise your prices, to affirm to yourself you’re doing the right thing, I want you to think about how raising your prices will make you a better photographer through enhancing the quality of service you deliver to your clients. When you raise your prices, suddenly you’re not trying to get every client to work with you, instead you’re looking for the “Dream Clients”!
Additionally, this leads to you having far greater focus on serving much fewer clients to a greater depth. Further, your relationship with each client deepens as you focus on getting to know every detail they value so you can enhance their experience with you! Including providing a higher quality of work through better understanding of what the client is looking for; picture combinations they can’t live without, details they love most about their family captured in artwork. That’s right you’re looking to bring out what makes each family uniquely themselves in the most beautiful way possible!
Get after it!
Raising your prices will afford you a greater ability to invest into your education. When you make more money and free up time in your calendar you get to spend time learning new skills and strategies for making your talent pay off bigger! Also, you no longer need to penny pinch your professional development budget; enroll in courses, hire a mentor, join mastermind groups that will help you move the needle forward in your business! Ultimately, the more you learn, the more you can implement, and the faster your business grows!
The list of perks for raising your prices goes on and on… more frequent equipment upgrades, business software, and even what you outsource can be refined through raising your prices!
Let’s get after it! What are you waiting for!
Want more free help on your business strategy?! Check out The Key to Running a Profitable Photography Business!