Hey, everybody, in today's video, I'm going to show you how to raise your prices by becoming The Specialist. And if you like videos like this, then go ahead and subscribe to the channel because I release new videos on how to grow your business each and every week.
Dan Henry here, founder of getclients.com, and today, we're going to talk about how to raise your prices. It doesn't matter if you have a done for you or agency service. Maybe you're a web designer. Maybe you're an accountant. Maybe you sell online courses, or maybe you sell consulting. You can raise your prices if you learn to become a specialist. And that's what I'm going to cover today.
And I'm going to give you a couple of examples, so you can really sink your teeth into why it's okay and why people are willing to pay you more when you go more of a specialist route in your business rather than a generalist. By the way, please go ahead and smash that like button because if you don't, this entire building is going to explode in five seconds, and then I won't be able to finish the video. And then you won't learn. So smash that like button right now.
All right. So the truth is that specialists, in almost all forms of life, anywhere, you can find it they always get paid more. Specialists make more, okay. They always make more. I'll give you some examples.
Let's say you go to the doctor, and you go to your primary care doctor. What's your copay? Your copay is like $20 bucks, maybe $50 bucks if your insurance isn't so good. And that's because that is a general practitioner. It's a primary doctor. If you scrape your knee, you fall, you have any sort of small issue they're going to take care of you. But, if you have anything else, anything else, like, let's say you break your leg and it's a big issue. You got to go to a specialized doctor for that.
They're going to take x-rays. And I think that's called an orthopedic, or let's say you have cancer. You're going to have to go to, you know, a doctor that specializes in cancer. There are so many doctors that specialize in different parts of the body. Now, what happens when you go to a specialist? You go, and you pay like a $200, $300 copay. Why? Because those doctors charge more. Why do they charge more? Because they specialize in one thing. The doctor that gets paid to deal with your scraped knee is going to get this much. The doctor that gets paid to help you cure your cancer obviously can demand a higher price.
Here are some examples of how this would work in a non-doctor world because doctors pretty much get to set their price. They don't really have to work hard to charge that. But if you want to charge more, let me give you some examples.
So let's say you're a web designer, all right? And you're like, all right, I design websites. Now let's say you charge $1,500 to design a website for somebody because you're a general web designer. Now imagine for a moment that you became a specialist and you only design e-commerce websites, right? That's all you did. You became the best at that. You learned all the little tricks of the trade and all the things that really made e-commerce websites really shine. Or even if it wasn't e-commerce, maybe it's a law website, like maybe you specialize in law websites so that when a prospect goes to a law website, they really, really are encouraged to book a call with that lawyer more so than a general law site because you really you've done it so many times. Every single client you worked with is a lawyer, and you've really sunk your teeth into that and become good at that.
Well, now, if you're a generalist and a lawyer comes over to you and says, well, I want you to design my website. Okay. I charge $1,500. If you're a specialist and you design law websites, you could demand more like five to $10 grand. Why? Why is that? Well, think about this.
If you want your website designed, would you rather pay this much for somebody who does all kinds of different websites, or would you rather pay a little bit more or really a lot more for somebody that specializes? Just as if you went and you got into an accident, what kind of lawyer do you hire? You hire a personal injury attorney. You don't hire a general attorney. If the government dumps toxic waste on your land, you hire an environmental attorney. You don't go to your local family law attorney. And when you're a specialist, you just get paid more. It's just the way life works.
So again, you know, I'm not going to go pay a general practitioner to operate on my heart. I'm going to pay a heart doctor. Here's another example. I had an issue with my heart. I had a condition called WPW Wolf Parkinson's White syndrome. I went to a cardiologist, and they gave me some tips, and they said, well, you know this or that, but I eventually went to the next step. And I went to an electrophysiologist, which is like the next step up in heart doctors for anything electrical in your heart. And that doctor said, listen, it could be an issue, and I can operate, and I can fix it. Now that costs me $30,000 to fix my heart out of pocket. Because at the time, my business was just growing, and I didn't even have insurance because I couldn't afford it the year before.
And I was locked out of the enrollment period. So if it wasn't for my business, I wouldn't have been able to pay that. So that doctor got paid way more because he specialized in just one part of the heart. And I would've much rather had him work on my heart because it's my heart than a general cardiologist. So do you see the point?
So if you're an accountant and you charge $500 a month to be a general accountant, let's say you only dealt with lawyers. You only dealt with e-commerce sites, or you only dealt with restaurants, or you only dealt with bars. You could charge a lot more. If I own a restaurant and I want to save the most money possible in taxes, I'm going to hire a restaurant-specific CPA rather than a general CPA. In fact, the CPA that I use personally specializes in internet companies specializes in people that do what I do.
I literally got my tax rate from the high teens to low twenties down to 6.5% last year because I switched from a general CPA to a CPA that specialized in internet companies like mine. She costs far more. She costs $30 ish thousand dollars, whereas the other one costs like five. So I paid $25,000 more, but I ended up saving like two and a half million more in taxes. So I don't care. And that's the thing. People don't care when they are asked to pay more if it's a specialist because they know the value of that specialist.
So if you're an accountant, if you're a web designer, if you're a marketing agency that helps people grow their business, if you're a consultant, if you're a course creator, whatever it is that you are, if you want to charge more and get a yes, easier, specialize. Specialize, specialize, and then you can raise your prices, and you can have a much healthier business and a much lower stress business as a result.
Okay? If you need any help, my company getclients.com specializes in teaching people how to sell their products, services, or advice for a high ticket and premium price and how to attract the right clients. So I'll leave a link below where you can check out how to become a client or just going to getclients.com. We have tons of free resources, podcasts, a webinar, free books, and all kinds of jazz.
So check that out. And also, don't forget to subscribe to the channel. You don't want to miss yet another video. Let me know in the comments what you do? What do you do? And what do you charge? I'd love to know because I'm pretty sure you can add a zero to it. I'll see you in the next video.