ADHD Entrepreneur: How to Implement a Price Increase in Your Business

You’ve crunched your numbers and decided it is time to raise prices, but now you’re down the rabbit hole of how to best make it happen. The truth is that raising prices in your business can be a daunting task, especially for us ADHD entrepreneurs. We can often get hit hard with RSD, and this can make us avoid or delay a price increase. But raising your prices is a part of being a business owner, so I’m here to help walk you through how to make it happen. The need to increase prices can happen for various reasons, whether due to increased costs, expanding your services, or simply aligning with the value you're providing. Price adjustments are an essential part of running a sustainable business. So, if you haven’t done a price increase in more than 12 months, it’s time to consider it seriously.

As ADHD entrepreneurs, we tend to hesitate regarding price increases, especially when considering how our existing clients will react. The fear of losing them or feeling like we're betraying their loyalty can be overwhelming. But, spoiler alert: you make the rules when it comes to increasing your prices, and with the right strategy and communication, you can raise prices while maintaining great relationships with your clients.

How ow you can effectively raise your prices without losing your mind—and more importantly, without losing your clients?

1. Know Your ‘Why’ Before You Increase Your Prices

First, you need to be crystal clear on why you're raising your prices. Your clients will want to know, and you need to explain it in a way that makes sense to them. Including your reasoning in your communication can help your clients/customers understand.

Are your costs going up? Have you invested in more training to improve your skills? Are you adding new features, products, or services to your offer? Or is the increase tied to you getting clarity on your finances and better understanding the costs of running your business? They might not ask, especially if there hasn’t been a price increase for a while, but it’s a good idea to be prepared to share a bit of your reasoning. And it’s okay if the reasoning is that the cost of living has increased.

Example: “I’ve recently completed an advanced certification that allows me to offer a higher level of service to my clients. In order to reflect these new capabilities, I’ll be increasing my rates starting next month.”

This approach shows your clients that the increase isn't arbitrary; it's a direct result of you investing in yourself, which in turn benefits them.

2. Choose the Right Timing

Timing is everything. You don't want to drop a price increase on clients without giving them plenty of notice. Ideally, you’ll want to give at least 30-60 days heads up before the increase goes into effect.

Also, consider when you are planning the change. Is there a “natural” time for a price adjustment in your business cycle? For example, if you bill quarterly or annually, let clients know about the increase well before the next billing period.

Make sure to also avoid certain times like right before the holiday season, during tax time, or at other moments when your clients are likely to feel extra financial pressure.

3. You can Segment Your Client Base

Not every client is the same, and your price increase approach shouldn't be either. You can segment your clients based on how long they’ve been with you, the type of services they’ve been receiving, how easy they are to work with, or for any reason you decide. It doesn’t have to be a one-size-fits-all approach.

Some entrepreneurs choose to "grandfather" in their most loyal clients at their current rate, meaning they’ll continue paying the old price for a set time while new clients pay the increased price. Alternatively, you can offer existing clients a smaller price increase than new ones. You can even keep some or all of your existing clients at your current pricing. You’re the boss, so you get to decide what works best for you and your business!

Example: “As a valued client, you can maintain your current pricing for 6 months. After that, you’ll transition to the new pricing structure, which allows us to keep offering the high-quality service you’re used to.”

This method helps soften the impact of the price change for long-time clients while still moving towards your goal.

4. tweak your offerings

Instead of a straight-up price increase, you could also adjust your services. Are you considering adding new features, streamlining your processes, or offering additional services? Highlight those changes and focus on the enhanced experience your clients will get with the new price.

But a word of caution: If the goal is to increase revenue without adding a significant amount of work, be cautious with this option. You don’t want to end up doubling your workload unless you are more than doubling your prices, or it isn’t really a price increase.

Example: “In addition to the current services, you’ll now receive X, Y, and Z, which are all designed to improve your experience and provide even more value moving forward.”

By focusing on what clients are gaining instead of what they’re losing (a lower price), you shift the conversation from defence to opportunity.

5. Gradual Increase vs. All at Once

There are two main ways to approach a price increase: incrementally or all at once.

• Gradual Increase: You can implement a series of smaller price increases over a set period, which allows clients to adjust slowly. This can make the price change less of a shock to their system. But depending on how your clients are billed/pay, this could add more workload to you.

  Example: If you currently charge $100 per session, you could raise the price by $10 every 3 months until you reach your target price of $140.

• All at Once: If your costs have risen significantly or you’re drastically changing your services, a one-time price adjustment may make more sense. In this case, transparency is key—let clients know why the jump is happening and how it reflects the value you provide.

  Example: If you’re moving from $100 to $150 per session, explain why it’s necessary and reiterate the value they’re receiving.

6. Communicate Early and Often

The worst thing you can do is surprise your clients with a price increase. Instead, you should be open and transparent about the change well before it goes into effect. This gives them time to process the information and understand the details of your price increase.

Start by sending an email or having a one-on-one conversation with your clients about the price change. If you use email, make it personal—don’t just blast out a cold, corporate-sounding email to everyone. After that, follow up closer to the date the new price goes into effect, and make sure to remind them again in their final invoice under the old pricing.

If meeting with your clients virtually or in person is part of your service, letting them know face-to-face, while a little scary, is the best way to go. If you provide an in-person service where the prices will be increased the same for all of your clients, it’s also a good idea to put up a notice with the details.

7. Allow Flexibility for Existing Clients

Sometimes clients may feel the financial strain of a price increase. If you value the relationship and don’t want to lose them, offering flexibility can be a win-win solution.

You could allow existing clients to extend their current rate for a limited time (like three or six months). Another option is to offer them the ability to lock in their current rate for an extended period by purchasing a package or paying upfront for future sessions.

Example: “i understand that this price increase may affect your budget. To make the transition smoother, we’re offering our existing clients the option to lock in the current price for the next six months by pre-paying for 10 sessions.”

This gives clients time to adjust while making them feel like you’re looking out for them, which strengthens your relationship.

8. Be Ready for Pushback (And Don’t Panic!)

Some clients will push back no matter how perfectly you craft your communication. You might even lose a few clients—that’s just the reality of business. But losing clients isn’t always a bad thing. It can make room for new ones who value your service and are willing to pay what you’re worth.

If a client pushes back on your price increase, be prepared with how you will respond. Reiterate the value you’re offering, and stay firm on your decision, whether that is to offer them options or not. If they decide to leave, thank them for their business and part ways on good terms. Don’t panic and start lowering your prices for every client with concerns. Remember, the goal is to create a sustainable business, not just to appease everyone.

9. Lead with Confidence

How you handle the price increase is as important as the increase itself. If you come off as apologetic or unsure, clients will sense it, which could lead them to question your decision. But if you’re confident in your value and believe the increase is warranted, that energy will transfer to your clients.

You don’t have to be cold or impersonal—just direct, transparent, and firm. The key is to be confident in your decisions and the value you provide.

10. Celebrate the Transition

Once you’ve communicated and implemented the price increase, celebrate the shift! Congratulate yourself on stepping up and moving your business forward. Price increases can be stressful, but they’re vital to growth.

Don’t forget to acknowledge your clients for sticking with you. A small gesture, like a thank-you note or a special offer for long-term clients, goes a long way in maintaining those valuable relationships.

Keep in mind

Raising prices isn’t easy, but it’s an important part of growing your business and ensuring you’re compensated fairly for the value you provide, and taking care of yourself. Remember, this is about more than just numbers—it's about recognizing your worth, the value you bring to the table, and making sure your business remains sustainable.