Know Your Worth<br>Jared Kaplan<br>Tutorial 3907

Know Your Worth
Jared Kaplan
Tutorial 3907

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Another great discussion! And it came at a great time as I am considering a rate increase. I’ve not increased in 11 years. As far as budgeting, Luckily my dad taught me at a young age about budgeting! He said “make it a habit not to spend more in a week than is coming”! He also told me I have champagne taste on a beer budget so to find something I’m good at and make a good living.:) Jared, I wil definitely come see you the next time I’m in NY! Maybe in the spring! 🤗
Great encouragement! I'm inspired to take a closer look at my "value" and assess where I can make some adjustments. I recently consolidated my schedule so I could stay in one location for several clients before moving on to the next and what a relief. Next?  forecasting!  Thank you Jared!
Connie Thank you! OMG - 11 years w/o a rate increase - that's bonkers! (and: I did the same, so I know personally the expense burden that causes!)   lol @ champagne on a beer budget!  The more you know ;)    Spring in NYC is amazing.
BB  Congrats on consolidating your schedule - that's GREAT!   Such a relief, right?  Let me know how the forecasting goes.  Keep up the good work - exciting stuff! 
(Edited by Moderator - Kristi Cooper on November 19, 2019)
Connie  I also did the no increase forever thing. In talking with one of the clients I was raising he gave me some great advice.  I told him I would be raising him $5 and was ready with all my reasoning (I've haven't raised my rates in x years, I'm a teacher trainer now etc...) He followed with "So you want to do this again next year? Why don't you charge me what you know you're worth and where you know you want to go now?"  It was a 27% increase and I did not lose one client over it. 
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Oh I hear you Kristi! It’s like we’re so  afraid to initiate that rate increase! I actually had 2 clients tell me that I need to do the increase. And I’m still afraid to do it! It’s happening January 1!!! I so appreciate Pilates Anytime! I love the discussion based videos  not to mention all the great things I learn regarding  movement. Xxoo 
Thanks Jared for bringing focus to this financial exercise! Can you comment on teacher injury and how this affects our business? Many of us don’t have worker’s compensation insurance yet it’s hard to plan for an accident or injury. Also any suggestions on how to get a studio that we work for to increase prices. Not so easy when working in the suburbs without the large traffic of a big city.
(Edited by Moderator - Kristi Cooper on November 21, 2019)
Connie it is scary! I was going to raise my clients $5. My client convinced me to ask what I was really worth so they were all raised $15. I was scared for sure.
When another client said "You know Kristi, that's a 27% increase,"  I said, "Yes, I do. I apologize that I can no longer offer you the discount I've given you for the last x years."  He actually smiled  continued as my client and we never had to talk about it again. Good Luck to you. #doit
Thanks for the great info for instructors...would love to see some info regarding how to adjust your expectation on rates comparing working in a studio, doing in-homes, or renting space at a studio....having been both an independent instructor and a studio owner...there is a major difference! What are the benefits to working in a studio vs on your own...often working on your own seems much more financially solvent but with commute hours, marketing yourself, sometimes works out much differently!  Would also love to see some tutorials for studio owners!
I was just thinking about raising my rates for my one to ones....procrastinating and then I come upon this tutorial...
Thank you. 
Knowing your worth is absolutely the key!  I know when all said and done, I am worth every single penny , if not more. When you give 110 % of yourself,, mix in your years of experience ,  your ability to connect and help people because you care and want to do the best for them, you should not feel guilty!!!
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