As your business grows, you’ll get busy. So, you’ll raise your prices.
New clients will pay higher prices and your old clients will likely keep your older rates until they attrition or something happens.
On the one hand, you don’t want to lose the “safe” revenue they represent. You also don’t want to have “the talk” about raising your prices.
So, you accept lower margins with your old clients and make it up with new, higher paying clients.
But that only works for so long. And it’s a slippery slope.
As you get busy, you’ll mentally begin to justify doing less work for them. The busier you get, the more tempted you’ll be to cut corners.
If they signed up today, they’d be on a much lower plan or paying significantly more, you reason. So you do less without telling them.
And that’s the problem.
Your clients deserve better. They deserve your best work. And if you can’t do it at that price, they deserve an honest discussion about what you’re willing to do (or not do) today.
Your prices should make you slightly nervous and excited to do great work. Those nerves will keep you on top of your game. And that’s what your clients are paying you for.
Refuse to phone it in—even with your old clients. Either find a new service to offer, raise your prices, or refer them to someone else.