Almost every creative professional at one point in time or another wants to learn how to charge their works’ worth.
How many times do you finish a negotiation and you feel bad because you know deep down in your heart that you haven’t charged your work’s worth?
I feel like that several times; I begin to think about how I would settled for a higher price that what I finally did settle for.
Charging your work’s worth might be difficult if you do not value your work or if you are scared of rejection.
If you are scared of not finding another client, you might deceive yourself into believing that you might not find another client.
To charge your work’s worth, you need to willing to let go of a transcation if it doesn’t meet your expectations.
And you also need to be willing to settle for clients that value your work for what it is.
And so, here are some tips on how to charge your work’s worth:
- Know what you are bringing to the table: Before you can go into any negotiation, you must know exactly what you are bringing to the table. How much value are you bringing to the table? Can your client or customer get that value cheaply somewhere else? Remember, customers would always go to where to can find value for little money.
- Know your target market: You also need to understand the pain-points of your target market. What are their pains? What do they need? What value can you bring to the table to address their pain-points?
- Calculate your cost: How much does it cost you to deliver the value you are bringing to the table? You need to calculate your labour cost, resources, time, and any other cost you must have incurred while delivering the value.
- Not everyone is your client: You need to be willing to walk away from people who aren’t among your target market. Know this – those who are your target market will pay you if you are delivering the right value
- Focus on Value: Think about value first before price. What value are you bringing and hpw much can it be valued at?
- Know how much your clients can pay: You also need to know the kind of clients you have. How much can they pay? How capable are they to pay your rates?
- Have a fixed pricing system in place: Based all the above analysis and more, you can carve out a fixed pricing system for your business.
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