How Do You Know What to Charge?
Many of us have been tempted to buy a “knock-off” because it is less expensive than the name brand. Generic products at the supermarket, “replicas” of status jewelry, pocket books & clothing can be tempting. Who doesn’t want to save 50% or more & get the very same thing, right?
Well, not right at all because if something costs 50% less it is often not as good. It might be “good enough” or even “darn good” but most assuredly not as good as what costs more because what costs more is pricier for a reason:
It costs more to manufacture
It is made of better materials
It has more cache (and maybe that’s important to you)
It has a better guarantee
It’s more reliable
I know that sometimes we pay more BECAUSE of the label but not always. Sometimes we pay more because the item or service is simply worth more TO YOU! (That's important because making a buying decision is very personal.)
What about you & your services? How do you determine your pricing?
I ask myself:
What if I lose the project because I charged too much? What if I charge too little & lose money for every minute that I’m working?
How do you figure out what to charge?