3 Factors to Consider When Setting Your Rate

There are many factors that go into selecting the price of your services. Some are within your control; some are not. But all should be carefully weighed before you land on the right rate for you.

Market Rates

Learn the limits of your market. You could be worth hundreds of dollars an hour, but you won’t survive if your clients can’t (or won’t) pay that much.

Skills and Experience

If you’re fresh out of school, with little experience, you should have a different rate than those who have honed and practiced their skills over several years.

Desired Income Level

Dreaming of an adventurous vacation? Then determine exactly how much you need to make per hour to get you the annual income you need to reach your goals.

The Truths of Setting Your Rate

There Is No “Right” Rate
When determining the rate for your business, there is no right or wrong answer. It’s what makes sense for you today.

No Two Rates Are the Same
No two business owners will necessarily have the exact same rate. Charging your worth is about more than just the hours you put in.

Today’s Rate ≠ Tomorrow’s Rate
The rate you charge today should be different than the one you charged five years ago and the one you charge in five years from now.

Ready to Confidently Set Your Rate and Get Paid?

Yes, You Can Raise Your Rate

“A wise mentor told me, ‘If your rate doesn’t feel too high to you, it’s not high enough.’ The more I grow into my business, the more I think that’s good advice. I’m telling my clients how much they ought to value my services if they end up hiring me. Just as importantly, I’m also telling them how much work like mine is worth, no matter who’s doing it.”
Neil Chudgar Communications Consultant NeilChudgar.com