Unless you can offer the cheapest prices, it makes no sense to try and compete on pricing.
If you wonder why, or you’re not convinced that’s true, then you’re at the right place. By the end of this article, I’m sure your views on pricing will be changed for good.
You make your own reality
Simply making the decision to be expensive, and sticking with it, can have a revolutionary effect on your mindset and your business.
Alistair Webster
When it comes to pricing your services – you make your own reality.
If you’ve decided in your head that nobody is going to pay you very much and that there are countless better options than you, then you will always prove yourself right.
Equally, if you decide that you’re going to charge enough to earn a proper, sustainable living – without having to work 24 hours a day, then chances are you’ll also prove yourself right.
Simply making the decision to be expensive, and sticking with it, can have a revolutionary effect on your mindset and your business.
Reframe how you approach pricing
Reframing how you approach pricing, and freelancing, in general, can be the difference between success and failure.
In most cases, whenever a job is advertised somewhere online or someone asks for help with the project on social media, they get absolutely bombarded with responses from freelancers. They get overwhelmed with responses, and everybody just gets lost in the crowd. And in that crowd, there’s always gonna be somebody willing to drop their prices lower than yours to secure the work.
And so, it quickly becomes the race to the bottom.
But you can choose the game you play. Even many experienced freelancers are astonished to find they can double their rates overnight – literally double them – and keep attracting work. They are then devastated that they waited for so long to do this. Remember, there’s no external party who is going to tell you that you are charging too little or that you should raise your rates. And just because you might be a new freelancer, doesn’t mean you have to start right at the bottom and work your way up. It just doesn’t work like that.
Choose the game you play
Instead, choose the game you play – charge more, and you will filter out the clients who are just focused on price. That way, you will work with better clients generally, and you’ll have to spend less time on client work so you can spend more time working on your business, and yourself.
It’s scary to raise your prices, but most smart, reliable freelancers can raise their prices – and they should do it.
If you like this article, you might like these as well:
Profit First System for Freelancers
The Hidden Costs of Freelancing You Need to Cover With Your Pricing
How to tell clients you are raising your rates
Three lessons on pricing and negotiations (free eBook included!)
How to price your freelance services right
Remember, just because you might be new to freelancing, that doesn’t mean you have to compete with everybody.
Until next time,
Maja
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