This past year I left a lot of money on the table. I was hired for various projects but I didn’t have value for my time or myself. I always gave pricing off the top of my head. As a result I was always selling myself short. That lead to feeling frustrated and inadequate. As an example, a couple years ago I did several video projects for a friend. When the project was complete he asked how much he owed. I told him “just give me whatever you think is fair.” I ended up getting $100 bucks for what should have been a $700 project, and that’s the low end! I was disappointed and a little bitter, but in reality I only had myself to blame. I lacked the confidence to demand what I was I rightfully due. I feared being rejected for placing to high of a value on myself. I should have been paid more, I provided incredible value and convenience! Maybe my friend knew better and took advantage of me, but ultimately I gave him permission by not knowing or declaring my own worth.
Evaluate your skills, be honest!
This year I am evaluating my skills. I am being honest about what I bring to the table, my experience and knowledge, and placing a value tag in it. I’m being realistic, there are some things I’m really good at and other things that I am learning. Either way, I am providing knowledge that the my client either doesn’t have time to acquire on their own or has no interest in. I am providing value to them by using my skills to address their needs. I should get paid for that!
Create a list of your skills, and assign them a value ($)
I have created a list of my skills and assigning a price to each skill. In other words I have a guide of what I will accept to implement my knowledge to any project for which I am hired. I am removing the guess work and doubt. When someone asks me what it cost to do a website, now I know what I am willing to accept to do the project. If someone wants a custom graphic, I know what how much I am going to ask for.
Know your value, show them you’re confident in your field!
This is important for several reasons, it helps me control my finances. I know how many projects I have to do to earn a living. Before it was just crazy, I never knew what I was going to get and I was always frustrated! I no longer feel like an amateur, I’m am an entrepreneur, I need to act like one. It means organizing my finances and knowing the value of my products/skills. By knowing what I am going to price my skills at, I look more professional, no more stuttering or mumbling around to get a number. It shows my clients that I am confident, that adds value to working with me. Clients want to hire someone who knows what they’re doing and is good at it. By not knowing my pricing, I came off as unsure. That can worry a client, they don’t want to waste time or money, they want someone who is confident in what they’re hired to do.
Take your business to a new level this year!
So know your worth and take control of your finances! Don’t be afraid to name your price. Show your clients that you’re confident in the work you do, take your business to a whole new level in 2012!
The Chicago Tribune at Tribune Tower in Downtown Chicago. Also known as the World’s Greatest Newspaper. This is a media empire which owns newspapers and television stations across the country. The Tribune is my favorite newspaper, although at the present time I rely heavily on their website. John Kass, a columnist at the Chicago Tribune is one of my favorites.
WGN Radio on Michigan Avenue in Chicago. I love going to Chicago and seeing all the great history and tradition. The seeing the organizations that have stood through time.