Are You Undercharging?

business mindset Jan 19, 2024

'Charge your worth’ is something we're told all the time, as freelancers. But it can be really difficult to know what to charge, and with each proposal, your finger hovers on the number keys.👆 Go too high and risk losing the job.👇 Too low and you might struggle to make ends meet next month.If either of those are familiar, it means you’re making your pricing decisions based on scarcity. It’s something that many freelancers struggle with. But you’re not a commodity and you don’t want to be attracting cheapskate clients who only want to work with the cheapest option.I remember having a proposal turned down for a big rebrand project - the reason? Because I was too cheap! They were concerned about the quality and how much experience I would bring to the project.Imagine doubling your rates then getting a hell yes in reply to your proposals, and feeling excited to get started to go over and beyond for your new client. That’s how freelancing should be.In reality, it doesn’t always happen that way. We get stuck in our heads about how much we should charge, and the default for many freelancers is to go under to make sure they secure the work. Sadly, though, you’re not doing yourself any favours.Undercharging can lead to a downward spiral of resentment and regret. (OK maybe a slight exaggeration.) But here’s what I know for a fact that undercharging will NOT do for your business:

❌ Attract a high quality client.❌ Give you the motivation to deliver above and beyond.❌ Get you a reputation for being the go-to expert in your space.Remember, you are not charging for your time. Clients are paying for your experience, knowledge and expertise. It doesn’t matter how easily it comes to you, your skills are an asset that clients are willing to pay a premium for.When you're able to confidently charge your worth, you can:✅ Bring in dream clients.✅ Choose who to work with.✅ Stop charging by the hour.✅ Reclaim your time and freedom.If you haven’t increased your rates for at least 6 months. Or you're attracting tyre-kicking clients. Or you’re charging by the hour, it's time to rethink your pricing, packages and positioning.


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