Read the pipeline, not your nerves
A rate change is a business decision. Look for evidence rather than waiting until you feel brave enough.
Five signals
- You are turning down work because the calendar is full.
- Every proposal is accepted without negotiation.
- Your last three projects finished faster than quoted.
- New clients arrive by referral rather than by price shopping.
- Your costs rose but your rate has not moved in a year.
How to do it
Keep the current rate for existing engagements until their natural renewal point, and apply the new rate to every new proposal. Explain the change in one sentence, then stop talking.