Are you struggling with pricing for your products and services?
Pricing is a huge issue for many freelance business owners.
In this episode, I break down the 3 Keys to finding the perfect price for your services and show you exactly how to raise your prices as you grow your business.
Freelancers and contractors need to take into account their expenses, desired profits and experience when pricing their services. It is important to consider the value that you bring to the client and adjust the prices accordingly. Creating a list of monthly expenses and factoring in taxes and non-billable hours is essential for setting the perfect price. Solving customer problems will attract more clients and enable one to increase their rates. The perfect price can be set by dividing total expenses and desired earnings by the number of hours worked.
Freelancers and contractors must consider various factors when setting their prices, including taxes, non-billable hours, and the value they offer clients. To ensure a successful pricing strategy, freelancers must first calculate their expenses and then set their hourly rate by adding 30% for taxes and allocating for non-billable hours. Additionally, freelancers should consider the value of their services and increase their rates as their experience grows. It is important to create a list of monthly expenses before determining a price and to remember to include taxes and savings buffers. Value does not come from the service provided but from the problems that can be solved and the reputation the freelancer has built. By taking into account all these factors, a freelancer can come up with a perfect price by dividing total expenses plus desired earnings by the amount of hours they plan to work each month.
If you are looking for additional help in your business, check out the Freelance Blueprint, a comprehensive guide that breaks down what you need to have a sustainable and profitable business.
You can download the Freelance Blueprint at FreelanceCEO.com/blueprint.
