Are You Defined By What You Charge?

January 15, 2015

Back when I was a newbie virtual assistant I was hungry for work, so I took any work.  I cut my rates often because customers at the time (I also took any customer!!) were on strict budgets and not so strict payment schedules … did this do my business any good?  Not really, except in terms of learning from my mistakes.

Because we are all to a point defined by what we charge.

Clients often run pricing past me for workshops, products and rates and more times than not I’ll go back and say I seriously think you are undervaluing yourself.  They want to build their business and price accordingly in order to pick up new clients or sell product, but here’s why you don’t price yourself on the lower scale:

  1. By undercharging you will attract the wrong customers.  For your business to succeed, long term – you need to find a few of your ideal customer not lots of troublesome ones.
  2. Cheap is often perceived as cheap.  If you are looking to increase your database, give information or a product away for free.  This will achieve more than pricing yourself in the lower range.
  3. We feel valued when we value ourselves, what we charge is one way of achieving this.
  4. Price should not be a key determining factor on whether someone wants to do business with you.  You will back up what you charge with absolute value for money.
  5. Underpricing can give you a bad name in the industry.  Your reputation is worth more than an hourly rate.

Many of you, before you became the super-duper entrepreneur you are now, at some stage worked for someone who did not pay you your worth.  While the job you did for that person was exemplary … because you give 150% anyway … you felt less than appreciated.  Why would you do this to yourself now?

In this somewhat material world I think yes, we are defined by what we charge … to a point.  If you don’t value yourself, your service or your product … why should anyone else?

My question to you today is this, do YOU believe we are defined by what we charge?

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