There’s an age-old saying when it comes to pricing your services and products – “know your worth, then double it.” 

While you may think that’s extreme, I’m here to assure you that it isn’t. If you are anything like me, when I started this business, I believed I was underqualified, lacked a lot of self-confidence in the field, and I was desperate for any clients because a paying client IS a paying client.

That means I set my rates low. Like, really low. I bent over backwards for clients because I was worried they would leave. I had no idea what it was like to have clients who valued my work or respected what little boundaries I had. I didn’t know my worth and I definitely didn’t double it.

But, fast forward a few years and here we are. Here I am, writing a blog about charging your worth because I know if you’re here reading this, you’re not charging your worth, and you know you should be.

So, let’s get at it… here are 5 reasons you need to know your worth and charge it:

They can’t do what you do: 

Maybe they can’t, maybe they don’t want to, or maybe they just don’t have the time to. Whatever the reason, they have contacted you because they NEED the service or product YOU offer.

To be competitive with others in your field: 

Sure, you could be asking way less to do the same thing, but for some people, that might be a major red flag. On the other hand, setting your prices too high will also steer clients in the other direction. Whenever I’m looking for services or products, I follow the general rule of three – get at least three quotes and go with the one in the middle. So, do some research, see what other business owners in your field offer, and find a rate that feels good to you.

Your knowledge and skills have improved: 

As I said, when I was starting out in the field, I thought I was underqualified. Like, what skills did IIII have that people should be paying me for? Protip: get out of your head. You ARE qualified. You have the skills and the knowledge to do what you’re doing! Stop telling yourself otherwise. But, the longer I’ve been in this business, the more skills, knowledge, and experience I’ve gained. I’ve fine-tuned my skills and I know exactly what I love doing and what I don’t love doing.

You have a reputation: 

Are most of your clients or customers coming to you off a referral basis? That is AMAZING! That means you are being talked about and that’s a great thing for your business. Your clients or customers are thrilled enough with your services or products that they are sharing you with their friends and family. Your skills and services are in high demand; run with it!

You will attract the right clients: 

The right clients see your value and worth and have zero problems paying for it. The right clients will respect your boundaries. The right clients understand that they can’t do what you do, they are grateful for having you in their business corner, and they know things wouldn’t be the way they are without you. The right client understands that you are also running a business, and with that comes rates that cover your business expenses and pay YOU a fair wage. The right clients will see your worth and will pay it.

If you are considering increasing your rates to reflect your worth, do it. The longer you wait, the harder it will be. You may lose clients along the way, but we both know those clients aren’t really worth keeping. Loyal clients will understand. Loyal clients will still appreciate you. But, most importantly, now that you know your worth, so will your clients.