An example of justifying a price increase

Photo by Kenny Eliason on Unsplash

During the course of your career, you will have to raise your rates several times. This is never an easy thing to do, especially if you have a steady stream of customers at your current price tier. If you want to maximize your revenue, however, you will need to make your prices higher eventually.

When looking at raising your prices, the first thing you should do is make a list to justify all your accomplishments since the last time you raised your prices. When you look at all your accomplishments, it should make raising your prices much easier. Usually, we downplay our accomplishments in our own brains, but seeing them written out on paper brings our growth into stark focus.

Here is an example from my own career. When I launched my first big course, Build a Rabid Fanbase, I had no experience launching large courses.

For that reason, I set the price $200 below my final price, at $297, when I launched it in January of 2018. I was massively undervaluing the…