There’s a balance you must strike between desiring and deserving more money and making sure that you’re charging your customers exactly what you should for the value they are getting. Charging what you’re worth doesn’t always mean raising your prices. In fact, doing that risks pricing yourself out of reach from your own audience. There’s a better way to do it and I’m going to show you how.
I am a huge proponent of charging what you’re worth. Many people are underpricing their rates because they lack confidence in their offerings. But just as many people are overcharging their customers because they want to earn more. What do you do if the value you’re adding or the level of client you’re serving aren’t aligned with the costs?
First, you need to calculate your hourly value = your annual financial goal / the average # of days per week you work / the # of hours you work per day.
One of the ways that you can do this is by getting more creative and asking: “How can I increase my revenue by making some key hires?” And, “Just because I know my worth and deserve it, how can I make sure I don’t leave people behind?”
For example, maybe you have a choice of making $100k on your own or making $300k by hiring people and paying a total of $100k in salaries.
Where can you increase your revenue by rethinking your model? By getting creative? And by not leaving anyone behind? There is a time and place for raising your prices but too many people jump to increase their fees without actually serving the people they are trying to work for.