The first thing anyone will tell you when pricing your services is to research your competitors and what they are charging. But is that something you should consider? If you’re looking to be a successful entrepreneur, you need to establish yourself above anyone in your industry and convince your potential clients that you have no competition.
As arrogant as that sounds, it’s important to understand that no matter who you’re up against, you are offering YOU. Your clients are gaining your expertise; something that your competitor will never have. That being said, those in the same industry as you are trying to brand similarly, and reaching out to the same audience. So how do you combat that?
Find out prices and services of other businesses in your industry.
Although you have to keep to the understanding that you have no competition, you still have to be aware of who is offering similar services. Pay attention to what they offer, how much they offer it for, and how they are putting themselves out there.
Create your own process.
Remember that you are unique. Don’t try and copy any strategy verbatim. Simply take note of what works for other businesses and what doesn’t work for them so that you eliminate trial and error for your own organization. Above all, remember that you are selling you, something that no one else can duplicate!
How to charge your clients
After careful research and observation, you are ready to determine your pricing and services. When you are determining this, take into account the uniqueness of what you can offer and its value.
Charge more to make room for negotiation.
Sometimes we allow insecurity to settle in, and that can get in the way of putting the right price tag on our services. It is easier to bring down the price than to increase it. That being said, the rule of thumb when deciding on what to charge your clients is to double what you believe you are worth. Should the client be searching for a bargain, their negotiating down of the price will still be above your standard.
Above all, you have to maintain self-realization. Know the worth of your services. You have a lot to offer that your competitors cannot. Remember that when you’re branding yourself and your organization.