3 Ways to Get Paid What You’re Worth
When you’re starting to freelance, you may feel like you’re working hard with little compensation. While you’re still making an income, it can be a little overwhelming to have to take on more projects to make a decent income. But the truth is, you don’t have to do this.
Advocating to get paid what you’re worth can be scary. What if no one sees your value? What if they find someone at a lower price? These are the ‘what ifs’ that will hold you back.
Strap in, because I’m about to take you on a journey to help you get paid what you’re worth for your freelance work!
1. Price Your Proposals Correctly
Ever struggle with pricing your proposals?
Join the club.
I’ve been doing this for awhile and I still struggle with my pricing. Each client is different (in my business) and so I take the time to customize each proposal depending on how I’m helping them.
Do not use a one price fits all model for your proposals. Not only is each client different, but as you grow in your experience and portfolio, your rates should be changing constantly. (that was a free coaching tip)
During your Discovery Call ask the question about timeline and budget without going into detail. This will give you a ballpark idea of how much they are thinking in their head, so you can price accordingly…which is always what they are budgeting (another freebie). While I can’t give you detailed advice on exactly how much to charge, it’s important that you are in control and drive this part of the conversation, do not ask them what they want to pay, or what you should charge. This will cause you to lose credibility.
Tip: Don’t quote your price on the discovery call. Let them know you’ll follow up with a detailed proposal including pricing for each stage or each deliverable, which will give you time to use your notes to create pricing that aligns well with you and your customer.
Whether you’re new to the freelance world or an old pro, pricing proposals can always be a little tricky. You should be continually increasing your prices with each client…so you’ll always be contemplating what to charge.
This is a tension to manage, not a problem to solve.
This means for as long as you run your own business, you’ll be dealing with this. So, stop resisting and getting frustrated, just accept that it’s part of your job and you should always be challenging yourself to grow in this area.
2. Raise Your Rates
I touched on this in point one, but you have to understand. Just because you raise your rates, it doesn’t always mean you make more money.
You may make more money, but you close less clients at higher prices.
When you raise your rates many things happen.
- You have an internal shift in identity.
- You move from a hustling imposter to a seasoned professional.
- You begin to understand your value and how you support others in their success.
- You set yourself apart from the competition.
Your prices are a statement of your experience and expertise. (Note: Before you raise your rates, you better have both experience and expertise to back it up. But, so many freelancers wait too long to realize their value and raise their rates!)
Raising your rates also attracts a better type of client. Clients who value your work, your contribution and allow you to lead the process. THESE are the types of client and work that will grow your business faster than you ever imagined!
3. Be Confident in Yourself and Your Services
You can’t shortcut the time it takes to develop confidence.
There are no hacks, tricks or secrets other people can teach you. It’s one of those things you have to learn yourself, often through challenge, frustration and mistakes.
But what you gain from these struggles is something no one can take away.
Once you’ve developed confidence you get to build on that. It’s an exponential asset that propels you through the next stages.
That’s why it’s so important to stick with what you’re doing and not jump to the next thing. Otherwise you’re right back at the bottom, learning the ropes and building your confidence.
I used to get a pit in my stomach each day I sat down to work, wondering if it would all fall apart. When would it all fall apart? Every. Day. Until time slowly helped this feeling to fade away and replaced it with confidence.
When you have confidence in what you do, your clients will have confidence in you and your rates.
These steps are easier said than done. If you need help with establishing your rates, check out my Full Thrive Freelancers Course 1. Here, I go over rates, discovery calls, proposals, how to win clients, and a lot more. Definitely check it out if you are looking to boost your business by learning what took me 3 years, in a single course.