How to Price Your Work on Value & Double Your Income This Month

Hey and welcome to episode 20 of the Free and Fearless podcast. Today I want to talk about something that almost anyone in business can resonate with – not charging what we are worth. I will explain why this happens, what the consequences are if we keep doing it, why you should increase your rates NOW, and how to price your products and services based on the value you provide not on the time you invest, what your customers can afford or any other factor. This will hit home with many freelancers, bloggers, coaches and anyone selling a product.   With this episode, I want to show you that you can take your power back, that you don’t need to follow what others in your niche are doing or telling you to do, that you can give yourself permission to raise your rate and that this one step can lead to reaching your income goals sooner than you thought was possible. Tune into the episode below: Show Notes: * [1:46] Why we underprice our products and services * [3:12] The consequences of charging less than what we’re worth * [5:22] What I did to increase my rates & double my income * [8:24] Removing the barriers to charging more * [9:34] What’s wrong with the hourly based pricing model * [11:15] 3 tips for pricing your offers * [13:28] 7 reasons to raise your rates NOW Transcript We all do work we love, we put in the time and effort, and have the expertise. And when it comes to asking what we think we and our work are worth, we get it wrong. Here’s why that happens;  * we compare ourselves to the big names in the niche, think we’re nowhere near their quality work and reputation, and charge much less than they do; * we still aren’t sure we’ll make it on our own; * we don’t believe in our products or services as much as we should; * we aren’t sure about the ‘why’ behind the work we do; * we don’t feel comfortable taking people’s money; * we still think like an employee; * we think a higher price will raise customers’ expectations so much that we won’t be able to answer that with our offers; * we base what we charge per hour, or per item, or else. Basically, anything else but the value we provide and the transformation we help the person achieve; * we keep in mind the clients’ budget and don’t want to make them take big financial decisions, so we decide that a much lower price would be a no-brainer. If you look closely at all those reasons why we underprice our products and services, even though we’re answering a need in a specific market and care about the work we do for clients, you’ll see that the underlying problem is that we aren’t confident enough. That can be crucial for our business. Here’s why. The Consequences of Underpricing 1. A proof for low quality.