Are you the type of entrepreneur or business owner that charge by the hour or time? Well, if you’re one of those people. I suggest you stop charging this way.
Think about it. If you’ve been offering and doing the same services for years now (i.e., for 5 to 15 years), and you’ve become an expert in your field, then chances are you now work faster and better at it. You’re able to deliver high quality products and services in quick turnarounds. If you work faster and better, you might incur higher losses if you charge per hour. It’s good for the clients, but unfair on your part.
Sure, there are some projects that makes more sense charging per hour. But if you know for a fact that you deliver results, work efficiently and effectively, and most importantly, always give your 100% to all clients. You deserve to gain more in exchange of all your time, efforts, and resources.
Instead of pricing per allocated hours, develop a pricing strategy that’s favorable to you and your clients. Ask yourself, “What is the value of what I’ll be creating for the client?” and ask them “What would this value be worth to you?”
Time is the most valuable thing there is. With your expertise meshed with your work efficiency, you get to provide top-notch products and services quickly. Overall, when you understand the value of your time and your skill set, you sell more.
Tell me, how do you price your products and services? Share your thoughts down the comments!