When I was first starting out I had NO idea what I should charge and what I needed to deliver to my clients. Here is what I did to figure it out!
- Ask others in your niche what they deliver for a specific job. Ex: What do you deliver when in a “branding package”
- Ask others in your niche how they communicate with their clients and if they have anytips in streamlining project communication
- Ask others in your niche how much they charge and what that rate includes. (similar to #1 but also asking about rates)
You will be surprised how much others are willing to help!
This is great for establishing industry standards and for getting a feel of what works best for others.
THAT BEING SAID –
Be sure to do what is best for YOU. What feels best for YOU. Let others INFORM your decision but not DICTATE IT.
MY THOUGHTS ON RATES.
When I first started I was all about time. Thinking about an hourly rate, how long a project would take me then pricing accordingly. That was a great place to start and really help me established a baseline and get work because I had an affordable rate. Don’t be scared to start a little low in the beginning – the experience you gather will be worth it in the end!
Now I price based off of VALUE not TIME. My time spent is irrelevant- what matters is what my client is getting, and what a fair price is for that result. By switching to this I was able to create some packages that allow me to maximize profit, minimize time but still deliver BIG VALUE.
So that being said, don’t be afraid to start a little low and then once you have some work under your belt and feel like you have a solid foundation change your rates based on VALUE.
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