This is a question you will always be asked when you mention you provide a service. Hands down this is the make or break moment of your business. I have had a number of bad experiences in this side of the business, so I wanted to share with you some tips on charging for your services.
2. Calculate how much you need to make- If you have any service that is hourly, make sure that you have done the math to see how many customers you need at that rate to cover costs and keep the business running. All too often I see people ask for a random number and then find out later that they can't make ends meet. When I first started this was a problem for me as well, so make sure to do the math first.
3. Only lower your price as an investment- It's easy to lower your prices. There is pressure every where from other folks who are charging less than you are, but as Seth Godin says, this is a race to the bottom. There is only one reason to lower your price for someone: You are investing in the relationship. If you find you really want to work with someone, but they can't afford your top rate, you can decide to invest the discount to make the relationship work. If it does, they may come back and pay you twice what you discounted them before.
4. Say NO- Ignoring this one almost killed my business. When I first started I wanted to take on every project and as a result I wasn't doing very good work on any project. You need to say no to things that are not going to move your business forward or that are going to be damaging to your forward motion. It's really difficult when you really need the money, but there is always a better way than working with someone you really don't want to work with or taking on more than you can possibly handle
5. Give customers a supersize for the purchase of a small- If you charge for a service and give the customer ten times what they expected, they will come back again and again and you'll be able to charge more as new folks come your way. People love it when service exceeds their expectations. Do that and you'll be in good shape.
Most of all, VALUE YOURSELF.
The work you do is important and you should be paid well for it. Never ever discount your worth, because there's nowhere to go from there, but down.
So go out and charge and let me know how it goes.
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