Pricing may feel like the most important aspect to winning new business, but our clients say it really comes down to trust, experience, and likeability. So, rather than going down on your hourly rate, instead, try to showcase why you’re worth it.
Pricing based on hours may be more practical, but it doesn’t always set you up for success. When you’re more experienced, you may have a higher hourly rate, but chances are, you can also do the work much more quickly than when you were just getting started.
This model doesn’t really allow you to scale and increase your revenue, year over year. And, clients may just begin to treat you like an extra pair of hands.
Speaking of which, raise your hand if you’ve ever been asked, “can you just workshop this for one hour?” or “we need this, but how many hours would it take you?” The value of your work is lessened because it is so tied to the price of your hourly services.
When it comes to invoicing, clients may even nitpick or question how you spent your time. Why did this email take you 2 hours, while this email only took you one?
See the problem?
Pricing hourly does not always consider the end value of your services. You should charge based on the value you provide – not by hourly pricing.
So, why is hourly pricing still so important? It helps you set the benchmark for industry standards. Join Freelance Founders to see our community rate sheet.