Want to Earn More? Start Valuing Your Work
As you start a new year it’s natural to review your fees. Many freelancers first arrive at their rate by plucking a figure out the air. It’s typically an arbitrary figure arrived at by gut-feeling – what the market will bear – certainly not too high. This is basically pricing according to your comfort zone. It’s a big mistake and leads freelancers down the path of financial struggle. The good news is you can avoid a lot of heartache by doing some homework first.
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- Charging what you’re worth starts with you. Value your work. Stop doing “free”;
- Do your homework: know your prospect; research their website; know their industry. Just knowing about them establishes credibility. Credibility lets you charge higher fees;
- Establish your credibility with testimonials and referrals. Build social proof.
- Make a list of the benefits you deliver to your clients. What results are you getting for them? How valuable is that? Are you charging a price that reflects this value or just one that feels comfortable?
- Pitch a customer you’ve always wanted to work with – one that will take your business to a higher level. Research their industry. Research their company. Identify a problem you can solve or create something of value to them (e.g. an infographic, a guide, a training resource for their staff). Reach out to them on social media. Demonstrate your value.
- Create a resource for your target market: a white paper; a training course; a series of videos; make Epic S**t. Solve problems in your client’s industry. Prove your expertise. Promote using Facebook Ads, targeting your client base. Be an authority.