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When you first strike out on your own, you're eager for your first client. I know I certainly was. Then inevitably the question hits - what should I charge for my services? When starting out, the tendency is to want to low-ball your prices because you might feel:
- Not expert enough (yet)
- Like you need to prove yourself first
- By starting off cheap you can raise your prices later
- Unworthy of the price you really need to be charging
The problem with this approach is I see people undercharge all the time and then nearly kill themselves trying to earn a living. I know I tried that route first (didn't work). Fortunately for me I hired a mentor who could guide me through this and take a stand for my value before I could see it for myself. I'm not suggesting you go out there price gauging or charging for value you don't deliver, but I know from the people I work with that as women we are far more likely to underestimate our worth exponentially long before we'd ever be overcharging. Price wars never work, especially when it comes to service-based businesses. You're not Walmart. You're not a widget. So charge accordingly.
Here's some recent blog posts that give great advice and different viewpoints on how you can determine that right price for your business.
“What Should Your Service Fees Be?”
Karyn Greenstreet
Very simple and practical steps to easily learning how you should price your services as a freelancer.
“Nine Factors to Consider When Determining Your Price”
Collis Ta’eed- Freelance Switch
Digs a little deeper into what needs to be considered as you are deciding what to charge for your services. Explores areas such as skill level, industry standards, and business strategy.
“5 ways to calculate the value you provide with your services”
Pam Slim–Escape from Cubicle Nation
Something I appreciate about this article is the inclusion of “Motivational Direction” when deciding how to price your services.
Advice on How to Price Your Freelance Services
Justin Kownacki
Not just advice on how to get started, but provides actual pricing methods and info on each (hourly vs. “it depends”). Also explores how to announce rates with confidence.
“How to Create a Client Pricing Package to Really Build Your Freelancing Business”
Laura Spencer Freelance Folder
Explores one type of pricing option, a pricing package, and provides practical advice on how to set up a system, along with great examples of how various freelancers may go about using pricing packages.
Pricing Lessons We Can Learn From Netflix
LaToya Irby-All Freelance Writing
A very timely article on why reviewing prices and considering current customers when increasing rates is so important.
Hourly Rates, Project Fees, or Conversation?
Illise Benun-Creative Freelancer
Explores the importance of learning what the value is that your potential clients place on your services as you determine how much to charge. Emphasis on having actual conversations with clients.
What do you think? What have you learned about pricing through trial and error? Would love to hear from you...
Paula Gregorowicz, The Intuitive Intelligence™ Coach
Download the Free Report: Your Own Uniqueness: The Path to Purpose, Prosperity, and Playfulness at http://www.intuitiveintelligencecoaching and get out of your head and out of your own way...
