What’s the key to getting paid more? You might think it’s down to how much experience you have, how many courses you’ve done, the qualifications you’ve gained… But really? Charging more for your work comes down to one thing: Confidence.
In this video, we’re going to show you exactly how to get the confidence to charge more so you can make more money AND work fewer hours.
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What’s the key to getting paid more?
You might think it’s down to how much experience you have, how many courses you’ve done, or the qualifications you’ve gained…
But really? Charging more for your work comes down to one thing:
And no matter how confident (or otherwise) you feel right now, you can find a comfortable, natural, easy way to grow your business, earn more money, and work fewer hours.
We’ll show you how.
Raising your prices: the fear is real!
We get it. Charging more for what you do can be scary. What if people think you’re overcharging, that your skills don’t match your price tag? What if you don’t get any more work because people think you’re too expensive. And what if you lose the customers you already have?
Those were the exact fears running through our heads in the early days of our business.
When we started out, designing logos for businesses, we were very young, very shy, and had zero confidence in ourselves. We’d never had a proper job. We had no experience. We had no idea how much people would actually pay us. Frankly, we had no idea what we were doing.
So we started off by charging £45 per logo.
And you don’t have to be an accounting wizard to know that the maths just didn’t add up. At £45 per logo, we would have had to create 66 logos a month — that’s about two a day, every day, even at weekends — just to earn minimum wage. That’s before you factor in any business expenses.
Exhausting! And completely unsustainable.
But, while our example might be a bit extreme, it highlights something really important that we all need to remember about pricing.
If you want to work fewer hours, you need to charge more
So how did we turn things around and go from charging £45 per logo, to over £1000 per logo? And what gave us the confidence to make that change?
Firstly, we created a simple pricing rule that we followed religiously (and we recommend you give it a try too!):
Increase your prices every time you get a new client
Naturally over time you get better at what you do. Your reputation grows. You gather glowing testimonials. And because you’re getting more experienced, organically, you can start to follow this rule with increasing confidence.
For us, we gradually increased our price from £45, to £90, to £150…every time someone gave us a ‘yes’, we raised our price even more until we got to the point that we were charging £300, £600,£900, over a thousand and beyond.
To our surprise, it was very rare that anyone ever said ‘no’ to a new higher price.
And the results were incredible. Charging over £1000 per logo allowed us to spend fewer hours on client work and more hours working on the business, marketing ourselves to clients who could afford to pay for our higher-priced logos.
Of course, that all sounds great…but it takes confidence to follow that rule and continually raise your prices like that.
The key to confidence
There are loads of things that will give you the confidence to start charging more. A kick-ass website with great photography, great testimonials, reviews, and feedback, getting results for your clients, maybe even speaking at events or doing guest interviews on podcasts. Each of these things will undoubtedly give you a boost and help you build your faith in your abilities.
But there’s one thing that underpins all of that. One thing that holds the power to all of your confidence issues.
If there’s a consistent, predictable level of demand for your products or services, your insecurity around pricing vanishes. If someone can’t afford you, that’s fine. You know there are ten others lined up and dying to work with you.
There’s no mystery about it: more demand equals more confidence to charge more.
Creating consistent, predictable demand
We discovered that by growing our audience and building a reliable and repeatable lead generation system, we could create that consistent demand for our work. It became an upwards trajectory, a cycle of growth: the more marketing we did, the more time we spent working on the business and not just in it, and the more confident we became.
And it’s a cycle you can create too. The more time you spend working on your business, working on growing that demand, the more confident you’ll become. You’ll find it easier to raise your prices and actually work fewer hours, while making the same money (or even more!).
So, if you’re not doing that right now, can you schedule some time in your diary to work on marketing yourself and growing the demand for your services? Can you carve out the time to build your own lead generation systems and grow your audience?
If you aren’t sure where to start, we’d love to show you how to get going. Our membership ATOMIC has all the training, the support, and the accountability you need to start generating clients on demand. You can join thousands of entrepreneurs right here — we even have a free starter plan to get you going.