Pricing Methods Part 3: Creative ways to price your work
Before you decide on a fee for your service it’s important to know the following:
- what your time is worth to you (and how much you want and need to earn a year)
- what other people charge for similar services
- the perceived value of your work
Two weeks ago I discussed the problem of undervaluing your work and last week I showed you how to determine what an hour of your time is worth to you. This is the first step in creating sustainable self-employment that works for you and your clients. When your financial goals are clear it’s easier to create services and fees that are in alignment with your goal.
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Pricing Methods Part 2: What is an hour of your time worth to you?
A lot of service providers, especially people who do spiritual work like spiritual guidance or weddings, have a hard time deciding what to charge for their services. Many of my clients simply decide on an hourly rate based on their… Continue reading
Pricing Methods Part 1: The problem of undervaluing your work
Several years ago, a business woman asked me to submit a proposal for a large website project. I was relatively new to web design and had never created a proposal of this magnitude, but I sent her the material and waited for a response.
Since this woman was a friend of mine she quickly read my proposal and called me. She said, “Amy, you are charging way too little for your services! Do you know how much the others are charging? One proposal is for $8,000, another for $13,000 and one is for over $30,000. Yours is for $1200.”
I was stunned. Continue reading
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