Charge more for what you do.
That’s what this post is about, giving you the ammunition to charge more and feel like a badass.
“I bargained with Life for a penny,
And Life would pay no more,
However I begged at evening
When I counted my scanty store;
For Life is just an employer,
He gives you what you ask,
But once you have set the wages,
Why, you must bear the task.
I worked for a menial’s hire,
Only to learn, dismayed,
That any wage I had asked of Life,
Life would have paid.”
-Jessie B. Rittenhour
If, after reading this post, you are unable to charge more for what you do, fear not. Just come back to it the next time you are feeling underpaid and try to let the ideas sink in a little deeper.
Also, remember rule number 1 of personal change…
Rule #1 – Don’t give up unless you’re dead.
First, here is why most early stage entrepreneurs don’t charge enough for what they do:
Reason 1 why you aren’t charging enough: You’re still thinking like an employee, not a business owner.
Even if you never have employees and only operate this thing yourself, you need to start treating your career as an independent as though you are a business of one. Which means you have to stop thinking about your time in terms of employee time. When you become an employee of an organization, you essentially “sell” your entire working time to that company. You’re essentially giving them a volume discount for
When you become an employee of an organization, you essentially “sell” your entire working time to that company. You’re essentially giving them a volume discount for guaranteeing that you will get paid. You’re also giving them the burden of finding you work to do.
When you are out on your own, you have no guarantees. There is now time spent doing the following activities that must be built into your pricing:
- Getting to and from gigs.
- Finding gigs (this is the one people don’t account for enough)
- Billing for gigs
- Chasing money (invoicing, collections, etc…)
So you naturally have to charge more.
Reason 2 why you aren’t charging enough: You’re worried they won’t give you the work if you aren’t the right price.
How many times have you asked someone what it cost only to find out you can’t afford it? I’m sure it has happened to you. And it will happen again. It happens to ALL of us and it’s no big deal.
Yet, when you are just starting out and every deal could make or break you, it’s really easy to think that you should come down on pricing. Don’t! It will work out, stay strong.
Reason 3 why you aren’t charging enough: You associate pricing with self-worth.
Pricing is all about value. It has nothing to do with “worth”. You are worth a lot more than some money paid out to you by the hour. The money you are paid has nothing to do with your worth. You are worth much more than you think anyway. But the money is completely separate. Money is aimed directly at the value you provide. So don’t be afraid to charge what is fair and makes you a profit.
That’s all I got. Good luck!