Ready to jump into every creative entrepreneur’s favorite topic—pricing? It’s one of those sticking points that a lot of creatives and designers get hung-up on. You don’t want to charge too much and not be able to build your business. But you don’t want to undercharge and not be able to pay your bills. How are you supposed to determine the value? How do you determine how to charge your customers? And, how do you enforce it once you do know what you want to charge?
Slow down and take a deep breath. We’re going to get into all that and more in this episode of Law & Wit. Pricing is what sets you apart as a business owner. Without it, you’d just be busting your butt to build your skills as a hobbyist. But, that’s not you. You ARE a creative entrepreneur! And that means you need to know how to address pricing strategies and principles in your business. This episode will be PERFECT for creatives and designers who do one-on-one client work — but there will also be some nuggets for product-based businesses, so listen through and see what how these pricing principles can apply to YOU.
In this episode, you will learn:
- The pros and cons of hourly pricing
- The pros and cons of flat-fee pricing
- Why your pricing should change as you’ve been in business longer (and it’s not just about the time you’ve been in business!)
- What things you should consider when determining the value of your product or service to your client
- The guiding principles you should use when setting prices
- Why you need to be super careful about deciding to give discounts or doing work for free (and why you should run for the hills if someone wants you to “work for exposure”)
Download the FREE episode handout with tips and quotes taken from this episode.
For more motivation and tips on pricing check out the episode How to Charge What You’re Worth with Chelsea Peterson Photography
FUTR workshop on pricing for designers at AIGA conf: https://www.youtube.com/watch?v=ivKnj9ffcmE