Determine how much your time is worth
Jan 27, 2008 |
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Filed under Tips of the Week
This week’s Management Tip
Do you know how much you are worth? Have you established a clear pricing strategy so that you don’t waste any time getting quotes to clients when getting job requests?
One of the last things ironically I did in creating my company was how to price my work. I would struggle and price each job individually. And, of course, I had a constant fear that I was charging way too much.
DON’T doubt yourself or your client. Come up with a price list of what you want to make and then charge jobs accordingly.
What you need to know before figuring out what you are worth:
- What are your expenses every month?
- How much do you need to make to lead the kind of lifestyle you want?
- Will you charge clients by the hour or by the project?
- Will you establish different prices for different types of companies?
C O N C L U S I O N :
No one works for free. It may be a bit daunting at the beginning, but stick to your guns.
If you find a high turnover rates with clients, you may decide to revise your price plan. Or, go for a different class of clients.
Another consideration when pricing your work: your clients will always expect you to work for around that price! Price it cheap and they will expect you to always be cheap and will resist a hefty price increase.
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