We often find that people just aren’t charging enough for their services, they just don’t know where to start. We have the secret to charging more for your services to help you out. This very quick video has a tip that is so easy you will wonder why you never did it before. This video is in the series of tips we have been putting on to YouTube this past few weeks and the last one was Why to Stop Charging by the Hour – which is really part one of this video, about charging more for your services.
The Secret to Charging More For Your Services
This is Sharon Hayes with Monetizationexperts.com.
Today I want to talk to those of you do any type of hourly rate services or that you offer any type of services. If you’re a coach, a consultant, a freelancer or some type of expert.
So, this is a little story going back to 1998 I had built an email newsletter called All About Money to about 65’000 subscribers and I had done this in a three month period of time. All of a sudden I started to become known as an email marketing expert and I started having people come to me and ask me for help with strategy in terms of growing their list and so on. And the first few people were people that were small business owners like I was and then finally somebody came to me that had a real business and I was like OK maybe I should be charging this
But what do I charge?
Price Yourself Accordingly
Now at that time I was paying $75.00 an hour to my web designer. So I figured okay I charge $75.00 an hour and that’s what the first person paid for me to give them help on growing their email list.
The next person paid £80 dollars an hour and I kept increasing it like this to the point were about three months in. I was at about the 10th contract or so and I had a woman that was heading up a really large organization with a lot of money behind them and she brought me on for a project that was about one hundred hours and 1 billed her one hundred and fifty dollars an hour for it.
So maybe six weeks or so after we were finished this, she sends me an email and she says you know Sharon I want us to get all the phone and talk about the work that you did for us and I’m going oh #### like, she wasn’t happy, this was a lot of money, I was in major freak out mode, and so on.
And we get on the phone and she said to me, you know girl you’re really under charging for the value that you deliver to my company I would have gladly paid ten times what you charged me for the same amount of work.
And I got off the phone, I almost threw up, seriously like, having somebody validate the work that I was doing and say to me Hey what you were doing wasn’t worth 150 an hour it was worth 1500 an hour. But you know what ending up happening is the next person that came to me and wanted to hire me my rate was 1500 dollars an hour because I had somebody that had said that value that was associated with it.
So, here’s the lesson in all of this, is that often times, and I think this is unfortunately more true for women in business than it is for men, is that we undervalue the work that we do. And I challenge you to look at things from the experience of whoever you are providing this service to and look at the actual value to them, and price yourself accordingly.
Hope you enjoyed this video / blog about Charging More For Your Services. Let us know if you have managed to do that in the comments!