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When you’re starting out, it’s tempting to undersell your services to make a sale. But feeling undervalued leads to feelings of resentment. So how much are you worth?
1. The practitioner who proclaimed that they were “newly qualified, willing and able to do cheap, quick tooth fixes”, or;
2. The practitioner with experience and a string of letters after their name?
Personally I’d choose the latter – and while there’s certainly a time and a place for snapping up a great bargain, some things are worth paying that bit extra for!
When you’re starting out in business, it’s tempting to undersell your worth to potential customers, simply to make a sale. But feeling undervalued can lead to feelings of resentment, so it’s important not to sell yourself too cheaply.
Deciding how much to charge for your services is always tricky, but we have a nifty Pricing for Success spreadsheet which will help you work out what’s best for you.
The first step is to group your services into packages. This helps you in three ways:
1. Creating packages will help you ascertain how many clients you need
2. Your marketing efforts will be more focused because you can periodically focus on and promote specific packages
3. Packages will discourage you from quoting hourly rates. Hourly rates are detrimental to the success of your business (we’ll be explaining why next week)
Next, you need to take a look at the pricing for success spreadsheet and decide the type and number of clients you want, along with the type of projects you need to achieve your monthly target. You can mix and match these elements until you find the solution that’s going to work best for you.
As if by magic you’ve created a monthly goal and a plan to support it! Hoorah! You can now focus your marketing activities and watch your new clients come flooding through the door.
Most of us know what our end goal is, but creating and filling in the next steps can be brain hurting stuff. So why not download our Pricing for Success spreadsheet and give yourself a helping hand?