Episode 16 - Charging Your Worth & Pricing
This is the Wake To Make podcast where we support you, the maker, so your making can support you. We’re a husband and wife team inspiring, empowering and equipping makers, just like you, to show you how to design your lives in such a way that your art works as hard as you do and to come along side you to build a thriving creative business.
EPISODE 16: CHARGING YOUR WORTH + PRICING.
Charging your worth and figuring out your pricing is a challenge all makers face at some point and often face daily. So how do you approach your pricing in a healthy way so that you’re getting compensated as you should and you’re also providing value to people? That’s what we’re covering in today’s episode as we figure out how to charge what you’re worth, how to scale your business to increase your time and how create offers that bring in passive income when your product price is set.
What we hear all the time is “I feel bad charging more”. Here are the ways to overcome this feeling and increase your rates:
1. Be unemotional
2. Don’t take it personally
3. Get support from others
4. Be generous with your clients
5. Be honest with yourself
To find out more about these points listen to our Podcast above!
Here is my pricing rule that works for me and can inspire you to figure out your own rule:
For every 3 - 5 clients we raise ours prices by $5 per hour.
You must figure out how much value you offer and realize that not everyone will see what you offer as valuable. Those who have the skills to do it may not see the value however those that can’t do what you do will see the value and you need to market to those people.
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DIAMONDS IN THE RUFF:
(Be unemotional) I do this by creating rules for myself about when I’m raising my prices and by how much. – Lilah
If I’m emotional about it then I often think I’m worth $2 per hour now and tomorrow I’m worth $400 per hour and go up and down that rollercoaster. – Lilah
Are there ways you can repurpose what you’re already making to teach other makers how to make your product or style your product to increase passive income. - Lilah
Unless the thing you’re doing is scalable, you’re essentially just building a job for yourself or a hamster wheel to run in - Zac
You’re either upping your prices or decreasing your time involved – Zac
As artists and makers we get super emotional about what we make and especially when we’re rejected – Lilah
ou may lose clients over raising your prices and that’s okay – Zac
When you do that you’re going to raise your ability to perform – Zac
Find people who love you regardless of what you make – Lilah
Sometimes you will fail and sometimes you won’t make good things, so you need people who love you regardless – Lilah
Facebook groups are great places to find like-minded people – Zac
My rule is not to work for people who ask for discounts because they don’t value what I do – Lilah
Always be open to the opportunities to wow your customers – Zac
You’re allowed to fire clients – Lilah
You’re allowed to decide if it’s a valuable relationship – Lilah
There is so much emotion tied to money, so if you can set up those parameters and stick to them, it makes for a much healthier relationship – Lilah
About the Wake to Make Movement: The Wake to Make Movement was created to inspire and empower makers and artists like you, to design your lives in such a way that your art works as hard as you do and to come alongside you to build your thriving creative business.