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If you work as an independent professional, or you are an employee then your [http://www.NoJobGreatLife.com income] depends heavily on your hourly rate. So obviously, if you can increase your hourly rate, you can earn more without working longer.

But when is this supposed to increase your hourly rate? How do you know if you ask a fair price for the service that you provide? Also know when it is not wise to increase your hourly rate.

If you increase your hourly rate, there should be solid business reasons to do so. In the absence of these reasons, it makes no sense to raise your rates. It is not because you feel you must be paid more that this is true.
The desire to earn more money is a good intention, but it is not a reason to ask your customers more for the same service. So the question is when to increase your hourly rate

Here are some cases in which increase your rate may be a wise choice:

1. You have improved your service and / or your skills. If you are able to give more value to your customers in less time, then raise your rates to reflect this increase in quality and efficiency is reasonable.

2. The supply curve and the demand for your services have changed. If you miss opportunities and become too busy, or must refuse clients because the demand for your service exceeds what you can offer, then it makes sense to raise your prices to bring supply and demand to a better balance.

3. You want to work less time. If you want to reduce the number of hours that you work with your clients, you can increase your rates to reflect the greater scarcity of your offer.
These are some of the most common reasons to increase your business prices, but there are others, most of them being related to a particular area.
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