051. How to Price Your Services | Digital Wellness Club Podcast
LISTEN ON: APPLE PODCAST | SPOTIFY
I often hear from clients starting their businesses: "How do I price my services?" The debate between hourly rates and package pricing is a common dilemma, and we're delving into both approaches.
Hourly rates provide a clear measure of work invested, making it straightforward for clients. It suits short-term or one-off projects. However, the downside is that it limits your income potential, can lead to scope creep, and ties you to trading time for money.
On the other hand, package pricing focuses on the value delivered, offering fixed prices for defined outcomes. It fosters transparency, scalability, and potential for higher income. While it requires upfront planning and clear scope definition, it frees you from the time-for-money trap.
As someone who prefers package pricing, it sets clear boundaries, allowing me to avoid uncomfortable money conversations. It also serves as a commitment to myself regarding the value I provide. Remember, clients pay for your experience, not just the hours worked. The goal is to work less and earn more.
When crafting packages, be explicit about what's included. A vital tip: whenever a client books your highest package, consider increasing your prices. For a deeper dive into digital wellness and weekly business tips, check the show notes and click the hot tips link. Join me on this journey to balance and success.
Wondering how to price your services? Pricing your services can be a little tricky, but there's a few options you can choose... I've got a favourite!
Also there's a few things to keep in mind to PROTECT YOURSELF when it comes to deciding how to price your services. Let's be sure to keep this in mind!
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