“What should I charge for my services?”
I hear this question often from entrepreneurs who coach and consult with me to build their professional services businesses.
To answer this question, let me tell you what NOT to charge.
❌ Do NOT charge … your worth.
Charging your worth is advice I will never give you because:
- It isn’t a real business strategy. And, you deserve a real business strategy for your very real business.
- It is a great way to wreck your nervous system and kill your self-worth. I would never connect your worth as a person to the price of your services … yuck, that’s just mean.
- It’s easy advice to give and hard advice to follow. How does one even begin to put a price on their worth?
Here’s what to do instead:
✅ Know your numbers – get clear on what it will take to run your business, pay yourself and have money in reserves.
✅ Understand your capacity – Be honest with yourself about how many clients you can take on in a year.
✅ Reverse engineer – With this information, reverse engineer the average price of your services.
The formula:
The amount you need to make each year/number of clients you can take on each year = your target pricing per client.
From there:
✅ Understand your clients – do market research to understand what your clients are willing and able to pay for your services. If it matches your target price per client, you are done. If it doesn’t keep working on your numbers or your offerings.
⬆️ See how this has nothing to do with your worth as a human?
This is a simple pricing strategy. It’s the exact strategy I use myself and with my clients.
Stop trying to pluck a number out of thin air that represents your worth, and copy my pricing strategy today!
If you are interested in how coaching and consulting with me can help you build a profitable professional services business, let’s discuss working together. Book a consultation call today.