Be Realistic — But Don’t Underestimate Your Worth
Not all projects are equal. Some are riskier or more time-consuming than others. Did you know you can charge a premium for taking on work that others can’t or won’t? Decide how much profit you want to earn to make the project worth your time. Take into consideration the difficulty, time and complexity of each project, and make that known to your clients.
Of course, you also need to be realistic while also staying true to your model. If a competitor is lowering their price, that doesn’t mean you have to too. Your prices should reflect your experience, talent and the types of clients you want to attract.
When it comes to starting out, Wolfe admits that you’re likely to be underpaid for your time, because everything will take longer than you think. Her advice is: “Know your worth. There will be clients that walk all over you and it will become a learning lesson. Over time as you gain experience, you will better understand which projects are worth your time.”