It's a win - win situation.
Why I charge so much? I always say that it's so easy to run a successful business in US or in UK. I grew up in an eastern european country where running your own business is really hard. Very high taxes, corruption, people have less money for your products, etc.
I've built businesses there and here in the UK. Dude, I totally hear you on this post. Time is very valuable for me. I mean, cmon, I have a life outside of this digital world. Good stuff, Noah! My Hourly rate at the moment is around 50 bucks an hour. Meaning no matter what I'm doing, sleeping, eating, watching TV I'm making 50 dollars an hour.
So if something costs less than that to do an I can outsource it IE my laundry, cleaning my apartment, running small errands I do. If someone wants me to do something for them. I charge them 75 bucks an hour to make it worth my wild. I found myself in a situation with peers not too long ago that wanted to make a lot of money but simply did not value the time I put into the effort to help them get there and I was nickel and dimed to death; effectively cutting that rate in half.
So I quit letting it be known to that group that I do websites; went back to more traditional, local marketing and have doubled my income. I don't need the cheap clients; the ones that value the work I do and the results they see don't blink an eye at their invoice!
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Great post Noah! For the value I provide the results I get my clients and my time I feel it's a good trade off.
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I am completely booked so I know you would tell me that I need to raise my prices! This hits me with spooky precision. Thank you. I have a gift for counseling, people tend to open up and confide in me with ease. I have counseled married couples striving to save their marriage, businessmen that needed a place to cry, and loners that thought no one could love them if the truth about them were known.
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It's always been an energizing experience to be part of. But I've never felt good about charging people for my time. I always wanted to start some "muse" business so that it would find my lifestyle and allow me to counsel for free. Anybody want to get some free counsel from me and suggest a fair price? Your in Aus! Are you doing any seminars or something like that of the sort? Hoping to a hear a "yes", also hoping to hear a "yes, in Sydney".
Points are nice, but it's Point 1 that i really have to work on. Noah, I love your style, though it was hard to take at first.
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I write blogs and create marketing materials for real estate professionals, after 16 years active in the industry myself. I love what I do now, so I don't feel like I'm too cheap, or too expensive, because I provide a quality service and product. You asked, there ya go!
Loved this article. We are a small but very experienced family business. Logically you'd think it would become harder but actually it was easier as we seemed to have more crediability. The more unique value we bring to a client the easier it is to charge higher premiums.
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We can provide a better service, to clients we prefer to work with as we are less pressured. Its learning to have the confidence in yourself. I make a ridiculous amount of money when I do iOS app development and I used to worry about it being ethical. Then I realized that I didn't want to spend my time developing apps for someone else with the few hours I had for personal projects, and if someone wanted those hours for their projects, it was going to factor into the cost.
Since having that thought, I've realized that I can set my price at what I feel my time is worth and if people want it bad enough they will hire me. If not, well then I get to do what I want with my time :. Excellent points here! I also think putting your fee's can help you weed out the clients that don't appreciate what you do for them and aren't willing to invest in their business. I LOVE and really appreciate this post. I have failed to charge for my services-precisely because i felt guilty.
I find this to be especially true with family and friends. This article gave me a lot of food for thought and a completely different perspective. Often, I volunteer in sense of being charitable working with non-profit organizations. Little I realized they don't really value my expertise or my time. Thanks for sharing Noah. Just today i stumbled into your blog, and i blame you for being unproductive today :P When do you know when it's time to charge more, and what if you have worked before with lower prices for the same people?
I make clients a lot of money! I do all the planning for the month for all clients and manage communication with them through phone and email. It takes me about 30 min to 1 hour or so to research and write them back with the info, depending on the topic and if it is a recent algorithm update. Recently the blog posts I've written for them have gotten them on page 1 of Google in about 3 spots and more on pages after that.
They've reported making sales from the blog posts because they're coming up for the keywords and the content is audience specific information.
They're telling me they're signing clients from what I'm doing. I'm getting them leads to their landing pages through AdWords and increasing their conversions every week. I've taken NLP courses, copywriting courses, and have taken so many other courses and have case studies I can write from client feedback and analytics information.
I am working about 12 hour days and feel like I don't get to spend as much time with my family as I'd like to.
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I have a lot of business ideas and have clients that ask for my business advice, business structuring and organizational advice, marketing advice, community management advice, social media advice, all the way to spiritual advice There, I made a decision. I used to charge less, but I didn't like the type of clients I was getting so I raised the rates to get a better quality of client. I will probably raise it later in the year since I have more than enough work right now. Basically, the busier I get, the more I charge, and the more I charge the busier I seem to get.
Psychology is funny. Working up the audacity to charge for teaching new sport bike riders how to survive their first few thousand miles riding on the streets The potential valuation is huge! And I have a hella gift for helping these guys. There is still this huge internal roadblock I'm facing in regards to charging. I also plan to give away a huge helping of the 'necessary' stuff But there is this block.
Working to he through it as I read this awesome article! About 10 years ago an attorney called me to testify in court on a case. My fixed overhead was 70K per month excluding my salary so using simple math I told him 2k per hour. I'm not always that good , but once is pretty good. I will save you 20minutes of life. I read all comments.
Pick Helen as a winner, she makes sense and is not blabing about shit nobody cares about. I started working for free and after two years all my clients were paying, but because most of them are non-profits and small businesses I feel guilty or scared that I will lose them if I ask for more. I'm definitely overqualified for the job I am a licensed attorney too but I feel as though I'm small potatoes compared to most production companies.
My performance and value are worth more! I am restructuring my pricing model. Lastly, on occasion I've performed free work on some products that I offer in this case number one on your reasons of guilt association would apply. It's not difficult for me to perform a mini project so, I have no problem with taking minutes out of my busy day and performing the task for a friend who should hire me. They want information about the publishing experience as well as writing tips and I think most of the people I consult with feel like this is some sort of short cut to doing the actual work and going through the process of publishing a book.
I definitely feel like I should be charging more and now that I've read your article, I will be doing that as soon as my website is up and running. I'm going to double the fee for my one-hour consultation. I will fold that fee into the total for services rendered should the client decide to use my company to edit their completed book or better yet, use me as their ghostwriter.
Sounds like a grand deal, if you ask me!