The Truth about Pricing

Oh, pricing, you saucy minx. You are the thing we cannot avoid, and that which we can never seem to fully tackle. You make even the most confident creative business owner anxiously question their tactics and plans.

One of the lessons I’ve learned (which I highlighted in this earlier post) was that to be a successful creative entrepreneur, you cannot avoid the business side. And one of the biggest challenges on that business side is pricing. So today I thought I’d share some things I’ve discovered when it comes to costs…

 -Think like a businesswoman (or man), not like a hobbyist. When you’ve done something simply for enjoyment for so long, it can be difficult to start thinking of it as a money-maker. But if you’re confident enough to offer your services, then you have to be confident they are services worth paying for.

-Sending estimates can be scary! Even though I have a clear pricing format, I still get that urge sometimes to adjust that unit cost ever so slightly before I email that quote. Be confident in what you send. If most people are fine with it and you get a couple here and there that say “thanks, but no thanks”, that’s OK. Ultimately, if you quote someone too low they’re going to wonder what the catch is and question the quality of your work. Conversely, if you find most people aren’t taking the bait, go back and reassess. Nothing is set in stone!

-Charge everyone something, even friends and family. To be clear, I’m not telling you to swindle your Grandmother on her 90th birthday party invitations. Discounts are fine, you can ever do an exchange of goods if you like! But it’s really important to create that relationship of client and vendor, and the best way to do that is through payment in some form.

-Try not to get too boggled down by what others similar to you are charging. It’s important to do your market research, but ultimately most clients are willing to pay a little more if they love you/your business/your design.

Any questions you have or advice you want to share on pricing?

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