Asking for Too Much Money?

[Michelle]

I'm an opera singer who does some voice teaching on the side. Anyway, for a while now I've had the feeling that some of my prices are too low. So, I raised them beginning in 2008. Part of me feels somehow embarassed for asking for what I want. I am afraid some of my students could get angry and go away ... even though that would even be somehow okay with me. Part of me is wondering who I think I am to get good money for what I do. On the other hand, I think my teaching is great, and I like getting money to satisfy my wish to enjoy things in the material world. I am just afraid my students might think it is all about the money. It would just feel so good to really get what I think I am worth at the moment.

I should say another part of my hesitation comes because I am young. Part of me feels embarassed asking for prices I know teachers 30 and 40 years my senior are getting. Still, I think I am worth it. Just don't know if others will see it that way ...

Whew. Had to get that out of my system. Thanks for listening. Am open to any comments or suggestions.

[Addict]

Ask what you think you are worth. Age has nothing to do with it.

If your customers think your price is too high, they will certainly let you know by not continuing to purchase your services. And you can always correct your price later.

[Shamou]

Usually higher prices come with the physical trappings... that is, a lawyer asking for $200.00 an hour will not dress and drive the same car that a $50.00 an hour lawyer will...

My wife gets anywhere from $5,000 to $d10,000 for each house that she sells... however she dresses the part and drives a new BMW...

It's all in perception... if you can play the game you will get the fame and reap the loot...

Good luck to you...
.

[C33]

Your price should match your expertise and results.

If you can make people drastically better, then you should not feel bad about charging them more.

Changing your price is also about changing your self perception. Maybe you were selling yourself short before and the price increase will only bring more respect from students who will feel comfortable with a teacher who knows her real value. Age has nothing to do with competence.

You didn't mention the percentage of price increase, but I do think it is reasonable to increase your hourly price every year, as most businesses do.

[maken]

i think its better to do a gradual increase, say 5% every year. that would be easier for your clients to digest.

[Buddy]

I teach Chinese martial arts privately (publicly as well). I charge $80/hr. I see people far better and far more well known charge less. Charge what your time is worth.

[RT Wolf]

To be honest, sounds like a self-esteem issue, as others have alluded to. Eventually you'll get used to it. It's outside of your comfort zone right now, but you'll get used to it once you do.

You're worth it.

[Michelle]

Thank you so much for all your replies! They are exactly what I needed!

[Millbyff]

The fact that you feel you are not charging enough probably means you aren't. Why not charge a new higher price to new students and "grandfather" in the old students at the curent price until you feel more comefortable that you wont lose them.

[Michelle]

Just wanted to report that I taught a few students today and no one complained about the new prices. I sent an email to all announcing the change beginning at 2008. So far everything is okay. If there are students who have difficulty paying I am willing to consider a discount if I also find our work interesting and enjoyable. Otherwise I am happy to let a couple go.

And, in case anyone is interested - the increase was a full 20%. It is what I know I want and deserve but it took a bit of courage to ask for it.

Thanks again for all your thoughts.

[RT Wolf]

You get what you ask out of life.

Congratz on things going smoothly. It seems the students also realize and appreciate your intruction.