Are You Charging Too Little? A Step-By-Step Guide to Putting a Price on Your Services

Posted by Adam_Gottlieb under Strategy
From http://frugalentrepreneur.com 5011 days ago

As a professional going into business for yourself, you will likely face the dilemma of what to charge for your services. Should you chose incorrectly on price, it can cost you a tremendous amount of money and potential clients. These five steps will help you to avoid such a loss.

Who Voted for this Story

Top BizSugar Users

This week's most active BizSugar users. Join Them!

Comments

Written by yoni67
5011 days ago

Adam,

Thank you for your very comprehensive response to my response.

As far as:

__________________________________________________

"Instead, focus on building and promoting your writing niches ***without sounding too desparate for work***. Make sure your website in particular is up to date, easy to navigate, and professional-looking (You may want to consider investing in someone who can help you with this... just do your research to make sure you get someone good)"

___________________________________________________________________

I will take this to heart. It's time I did update things a bit.

Thanks,

Yoni

- 0 +

Written by yoni67
5011 days ago

Adam,

Great advice...though what else would I expect from you?!

My problem is that writing is an ultra-competitive field which is a bidding-war at its core.

If you check out sites like ODesk and Freelancers.com, you will see people from Third World countries (nothing against the Third World of course) who are willing to to the work for $2-5/hour on average. People used to a higher salary can't compete.

I advertise on other places, but there is always someone willing to under-bid and work for peanuts.

Yoni

- 0 +

Written by Adam_Gottlieb
5011 days ago

Yoni,

I can tell you from experience, I've worked with some of those $2-$5/hr people, and the quality of what I got back was atrocious (and that's an understatement). As the saying goes: you get what you pay for.

In the case of an extremely competitive industry, such as freelance writing, the best way to go is NOT to compete on price. In fact, if your work is quality (which I can tell that it is), then you may be able to actually charge *more*- but then you need to resist the urge to drop back down in price.

Instead, focus on building and promoting your writing niches ***without sounding too desparate for work***. Make sure your website in particular is up to date, easy to navigate, and professional-looking (You may want to consider investing in someone who can help you with this... just do your research to make sure you get someone good)

Adam

- 0 +