Changing my mindset on fee increases

There is already a great thread on fee increases - here it is.

Apologies some of  my questions are covering old ground

I have difficulty with this one and I am not sure where to start.I would be grateful for pointers in overcoming my own barriers and fears. For this to happen I need to justify the fee increases to myself first. This to some extent can be achieved by addressing the questions below..

  1. My own insecurity of fee increases. What if they leave? How do I handle objections? How should I handle this?
  2. How do I inform clients of fee increases- email?
  3. A large number of my clients are now on Direct Debits that should make things easier
  4. I have a client who is struggling - I am just do not feel comfortable increasing his fees
  5. It is never a good time to increase fees- I am waiting for a good time.
  6. Increase fee by inflationary amount? I have not incrased by fees since I started. Though my fees are high in comparision to others in the area. 

Any pointers would be gratefully received.

Thanks

 

Comments
There are 16 comments. Login or register to view them.

What I did

wilcoskip |

Just do it

neileg |

Conscience and goodwill

DMGbus |
DMGbus's picture

@DMGbus

neileg |

Really good points here. 

Fred Smith |

putting up your fees

pauljohnston |

Pedant alert

Andy Reeves |
Andy Reeves's picture

Being pedantic right back!

neileg |

Pedant response

Andy Reeves |
Andy Reeves's picture

Stop Charging For Your Time!

David Winch |
David Winch's picture

It takes courage to do it

ShirleyM |
ShirleyM's picture

Why a blanket increase?

Kent accountant |
Kent accountant's picture

@FirstTab

ShirleyM |
ShirleyM's picture

Be selective

Dave Elliott |

Look at 2020

David Melia |
David Melia's picture

Is it really just a numbers game?

Kent accountant |
Kent accountant's picture