Everyone is worth something. I am not talking about worth in some metaphysical manner. I am talking dollars and cents.
You need to figure our what your time is worth if you ever intend on building a business or brand. Knowing that number will be your baseline for taking on clients and the insurance that keeps you from getting taken advantage of.
That being said, you need to do your research. If you decide that you are worth $100 an hour, but your market is only willing to pay $50 an hour for your services, you have failed before you even began. Study up on what people in your niche are making. Knock that number down by about twenty-five to thirty percent if you are just starting out. That is probably where you want to start your pricing.
This allows you start out extremely competitive with the other professionals in your niche. It also lets your potential clients feel like they are getting a discount for hiring someone with a little less experience. Many business owners are willing to take a shot on a kid with little experience, especially when they don’t have to pay a premium for the services. They look at it as investing in a relationship that will pay off when you have developed your skills and remember them as the ones who gave you the shot you needed to prove yourself.
Anyway, let’s get back on track here.
By understanding the value of what you do, not only will you have a baseline but you will have a road map. I started off making little more than $10 an hour doing what I do. I worked my ASS off for a while before realizing that I needed to raise my prices. I got less jobs, but the fact that I was charging more made up for that. It gave me more time to develop the business further. Having a firm grasp on what you are worth allows you to more clearly understand when it is time to raise your prices.
Hopefully this helps you guys! Please consider heading over to the YouTube channel and subscribing to receive more insight on my experiences in business.