How To Charge Your Work’s Worth The Right Way
After the meetings and deliberations, do you ever feel unsure to charge what you are worth?
Charging your work’s isn’t optional; it is essential. It helps you get the value for the amount of work, time, energy, and resources you have invested in the task.
What’s more, one of the risks of charging what you are worth could be people walking away from the deal you are offering or from your proposal.
Don’t be afraid to charge what you are worth. If you don’t charge what you are worth, how are you supposed to run a thriving and sustaining business?
Did you even know that underpricing your work can make someone think low of your service? And so, it is important to charge what you are worth and be confident about it.
One of the best ways to start charging what you are worth is knowing your cost price. How much does it cost you to provide the service? Also, you need to calculate the number of hours you spend on the work. In addition, you need to know the current market rate of your services, so you don’t underprice yourself.
You need to value your expertise so that others would do the same.
In order to charge what you are worth, you need to make your clients understand the value of your services and what you are bringing to the table. Don’t be apologetic about this. And so, you need to position and package your value the right way.
Another thing that can help you charge what you are worth is showing your clients testimonials from your previous jobs, showing your portfolio and your work track record.
Likewise, you need to consider your clients. Can they afford what you are charging or do you need to target other clients? Do you need to create different packages for your different types of clients?
You also need to uplevel your skills so that you’d feel comfortable charging what you are worth. When your skills are up-to-date, and you have the required wealth of experience; you shouldn’t feel bad about charging what you are what.
Here are some pricing strategies to consider:
Charging per project: When you charge per project, research has shown that you can make money because you charge based on the project value.
Charging per hour: You can also bill your clients based on your hourly rate. However, the drawback of this is that no matter how tedious or nerve-racking the project is, you only charge per hour.
Create different packages: Survey your clients and understand their different needs, then create different packages that suit their needs and what they can pay.
What is your pricing strategy? Can you share it with us below? Do drop your comments below!