Setting Your Price

setting your prices

Finding your place in the market is not an easy task. Charge too much, people will walk. Charge too little, people won’t take you seriously. The latter, is a tough one to learn. I, naively used to think, if I undercut everyone, I’ll do well for myself. Offer the cheapest rates and everyone will come to me. Let me tell you, if you offer the cheapest rates, you get the cheapest clients. If that’s your thing, fill your boots.

But if you want to be taken seriously, you need to find yourself a perfect price point between demand for your service and your talent for said services. Maybe you have a high opinion of yourself and you like charging $90/hr. So if you do, and you are, you need to make sure you can get about twice as much work done as someone who charges $45/hr for doing the same thing. If you charge too little, because you’re nervous about losing a client, you’ll die a slow death, simple. If you charge too little, there’s no wiggle room when S hits the fan. And doesn’t it always?!

The best way to position yourself is to go online and look at your competition. Look through their portfolio. Be honest with your team’s skill level, and if you can do what they do, send them an email pretending to be a potential client. Go through the process with them and see how they do it, and what they charge. Don’t be afraid if you charge more; just make sure you show them why.

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