How to Charge Your Worth
September is an exciting time for Sungrown Studio, and me personally. You might or might not know that I am launching Sungrown Society, my group coaching program and membership community. I’m doing what I love, on my terms. I want that for you too, and I want to teach you how to get there.
I’ve been on Instagram & Facebook Live weekly on Fridays at 12:00 PST talking about the major, life changing things you’ve got to get comfortable with if you’re going to grow a truly profitable business that gives you financial freedom.
I realize that nobody likes to talk about money, especially what we charge. Which is precisely why we need to talk about it.
Why are we continuously undervaluing ourselves, under charging for our time and then apologizing when we need to raise our rates?
I’m talking about charging your worth. I’ll share how I’ve gone from undercharging to more than doubling my hourly rates- even during recessions.
We undervalue ourselves for a lot of reasons. Here’s the top four:
- You think you have to work hard at something for a really long time to charge for it. So if something is easy for you, you don’t value it. If it doesn’t take you a long time, you don’t think your customer should pay for it. This undervalues your expertise, education and skill.
- You want to compete on price. HUGE mistake. I’ve had more than one freelancer I was interviewing offer a discount without me even asking. It’s a red flag for the customer.
- You can’t charge more than your competition. Such TOTAL BS. We all bring something new to the table, so if a client wants my expertise, they will pay for it. Many of our competitors work for free in order to get the job. That is a quick way to undervalue yourself AND let your clients know you’re ok with it. You shouldn’t be ok with it.
- You worry your customer can’t afford you or your product. Just. Don’t. This is none of your business. Sometimes you just want the damn thing and you are willing to pay. Projecting what you think the client can afford sets you up for failure every time.
Start Charging Your Full Worth!
To get to that magic number, you’re going to need to do the math. how much your life costs, how much you want to earn, and figure out a fair rate. Once you have that rate, double it. That’s your new rate.
It’s going to sound scary. Practice saying it out loud. A LOT. Tell your partner, your reflection and your cat what your new rate is. The more you say it, the more you will believe in yourself. Trust me on this one.
Never apologize for the increase. State the facts. There is no need to offer any explanations or long stories. Explain what is changing and what will not. You can mention any new perks or upgrades you are including.
Say goodbye to the customers who won’t pay your new rates. They don’t value you and you are probably saving major future headaches. You attract the kind of customer you want by what you’re putting out there.
If you need help with figuring out your finances or your money mindset, hit reply and let me know what you are struggling with. I would love to hear from you!
If you need help with figuring out your finances or your money mindset, I would love to hear from you!