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Found a stat that made me scrap my whole pricing model
I was reading a report from a small business group in Portland last week. It said 62% of new service businesses fail because they undercharge, not because they don't get enough work. I always thought the hard part was just finding clients. My own numbers showed I was working 60 hour weeks but barely paying myself. I doubled my rates for new clients starting this month, and the sky didn't fall. Has anyone else had to make a big pricing jump to actually make a living?
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keith9003mo ago
Wow, that stat is a real eye-opener.
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wendy13123d ago
Can I ask how long it took before you felt comfortable with those new rates? I went through the same thing about two years ago. I was scared to death I'd lose everyone, but like @hannah400 said, the people who actually value your work don't even flinch. The ones who did leave were the ones who took up half my time for hardly any money anyway. Funny how you think you're being fair, but really you're just running a charity for people who don't even say thank you. Doubling your rates is scary, but working for free is scarier if you ask me.
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wade8713mo ago
Man that stat is a real game changer. Always figured getting the work was the whole battle, but maybe charging enough to actually live is the real trick.
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