In the past when I have been mentoring clients many seem to get stuck at where to price themselves. It is easy for us to look at competitors pricing but what we should be doing is thinking about what we value our time at.
Whethere you provide a service or a product you need to think how long from start to finish that product/service will take you to finish and from that work out a per hour cost that you are happy with. Most of my services I have on offer are based around the £25 hour mark as this is what I want but also it is at a price where I feel comfortable selling at.
Yesterday I am part of a Facebook group of business people where anyone can get advice or ask for recommendations. Someone posted asking if anyone designed logos and I responded that we offer them at £35 for a standard design which includes two changes within the design process. Another member then commented underneath and said that I am under valuing myself by charging so little and that it makes mockery of the design industry!!
What really fustrated me about this is he knows nothing about my pricing or business and I could tell he was from a design agency that actually charged thousands. Now that's fair enough if he does but thats not what my business is built around.
Right from the beginning of starting Educate Business over 6 years ago I wanted to provide business services that were affordable for starts up and new businesses who didn't have a big budget. Regardless of my pricing my clients will receive a proffesional service from start to finish where I give a 110%. My values and beliefs around my business predict my pricing and that is who my target audience is. Above all I love to help start ups and new businesses and that is my passion. So as you can imagine I was annoyed that he commented which he then followed with 'I was lowering my prices just to get a piece of work!' My prices have been roughly around the same for a very long time and to be honest I am not that desperate.
The funny thing is alot of people saw this post and two other people came over to my Facebook page asking for me to do a logo design for them.
So ultimately what I wanted to put across in this blog is with pricing to trust your instinct, beliefs and values and go with what you think you are worth and not listen to others!