Inflation and Fees
It’s not your imagination. In the United States, the rise in inflation continues to be acute and is on track to be high again in 2023 at 5.5%.
In my view, this is plenty justification to consider raising your rates if you haven’t done so in recent years. To do otherwise would be to allow the erosion of your earnings which of course, you don’t deserve. So what’s the way forward? Two ideas…
Messaging. Break out pen and paper or fire up the laptop to craft your heads-up email so you mean what you say and say what you mean. Or use Chat GPT for a wonderful draft that you should tweak and personalize to make it your own.
Transparency. For whichever clients that you choose to increase your rates, provide plenty of notice. Press the flesh with a personalized email or call. And note on your invoices from what date your new rates will apply.
