If Mr. A tells you: the cost of my services is 20.000frs and Mr. B tells you I charge 200frs for the same service, don’t be quick to criticize Mr. A for being expensive or irrational.
Here is what I learned about setting prices for the services you offer.
Price is not always about the quality or nature of the services offered. It is also about the worth of the person offering the services.
If you are a freelancer, you need to know how to set your bar for any services you offer.
One key rule is to know how much you are worth per hour.
If you own a business or earn a salary, how much profit/ income do you make in a month?
Calculate your total income per month and divide it by 30 days.
Take that amount and divide it by the number of hours you put in per day.
Whatever amount you get, that is how much you are worth.
If you want to charge someone for any services, make sure the amount you are charging for the job is above your hourly worth.
Do not accept any work that pays less than your hourly worth. Delegate it to someone else and use that time to do something productive for your own life.
Do not sell less than you are worth. As you grow in worth, keep setting your bar high. Do not let the market value determine your worth.
Next time when someone says, your price is too expensive, tell them, that is what you are worth. Don’t brag about it if it is too high and don’t minimize it if it is too low.
Some of the people who make a lot of money from the same quality services you offer today started low and made their mark.
In the spirit of Christmas 🎄