Hello, blog readers! My name is Jennifer, and I am a Creative Director that sometimes help Stephanie with her Steadfast Social Media. I love posting to Stephanie’s Instagram, designing images for her blogs, and keeping you all up to date with her newsletters. I hope you all have been enjoying the content! I am also a wedding planner / designer and operate Oh Hello Events in Tampa, Florida. As a creative small business owner, I relate to Stephanie’s bookkeeping tips and small business advice. I’ve learned SO MUCH reading about how to balance your books, what counts as a business expense, and many other topics. There are some lessons you learn best by experience though and one of those big ones for me happens to be pricing. A good friend told me the other day “You’re supposed to be fast, you’re the professional. You need to charge based on the value they will receive not the amount of time it takes you.” She was responding to a pricing issue I was facing in which a client’s budget didn’t suit what I typically charge. I was immediately trying to justify that I could accommodate them this time, because it was a task I could probably complete quickly. But, when you devalue your work, it becomes easy for that to become a habit and be detrimental to your business.
“Charge what you’re worth” is a common expression and for creative, small business owners it can be one you need to be reminded of from time to time. Creatives and freelancers have a few options when developing their pricing:
Given the methods of determining pricing, how can you increase the value of your work to help increase your prices?
Thank you to Stephanie, for offering me this opportunity to chat value pricing with you! When you start to charge what you’re worth, your bottom line will increase, and balancing those books will be just a bit more fun. As a business owner, what’s one thing you can do to communicate your value?