Comments on: Steps to Starting a Small Business: #6 Setting Your Rates

By: Cath Lawson

Cath Lawson — Tue, 18 Nov 2008 22:53:47 +0000

Kathy - we could take turns doing that - alternate posts and copy. From what folk are saying now - there's no penalties for duplicate content - so we'd be fine. Seriously - this is always happening to me. A few weeks ago I wrote a post but Akemi published something very similar first - so my post is still sitting in drafts. Cath Lawsons last blog post..Do You Have Business Questions?

By: Kathy

Kathy — Tue, 18 Nov 2008 19:56:44 +0000

@ Cath

I’m tempted to just start posting “Ditto” and then scrape your feed! It would make my life easier!

@ Tom,
It’s your J-O-B to challenge pain in the ass clients!!! :0

Seriously, as a coach you do have the “pleasure” of allowing clients to fire themselves. It’s one of the many “perks” of being a coach!

@Davina
Your photography client’s experience is identical to mine in the rate setting arena. However, in photography and everything else, we need a portfolio to begin. Low rates means a quick portfolio build – which is then followed by the ever pleasant rate increases!!

If she had started with high fees, she might not have had the portfolio to show to her new style of client. (At least, that was my experience starting out!)

By: Davina

Davina — Tue, 18 Nov 2008 08:51:03 +0000

Hi Kathy. I agree with most of this However, a friend recently told me a story about a friend of her’s who was starting her own photography business. In her case, she started out with low rates, but ended up with clients who were nickle and diming her and trying to get the most they could for the little she was already charging.

She upped her fees and her clientele started to come from within a different income bracket. They had more “respect” for their money and her services and the nickle and diming stopped.

I have set my rates based on the industry standards for life coaching. And after I’ve been practicing for about a year they will go up. As well, my fees for proofreading are set within the industry standards. Last year, I was advised by an editor that I should raise my rates because I was so good

Davinas last blog post..Video — Preparation Inspires Self-Confidence

By: Tom Volkar / Delightful Work

Tom Volkar / Delightful Work — Mon, 17 Nov 2008 22:59:04 +0000

"One of the joys of building your own business is deciding upon the rules. What you charge for your services is one of the rules." You saved the best advice for last and that is indeed a joy. You succeeded in a no bullshit posting regarding rates. I have fun challenging pain inn the ass clients to scale new heights and if they can't make it -then they fire themselves. But is is fun to be surprised once in a while. Tom Volkar / Delightful Works last blog post..Small Business Startup Checklist

By: Cath Lawson

Cath Lawson — Mon, 17 Nov 2008 18:59:11 +0000

LAMO Kathy – but I really should be crying. My post that goes live in the next few minutes is also about setting rates. Luckily it’s not the same as yours.

Also, I wrote one the other day that was too similar to one of your posts, so I set it to one side. I’m convinced we’re telepathic.

I totally agree on the USP – you need a really good one to charge more. But I hate hourly rates. It’s a whole lot less hassle to offer a package, in the long run. It takes a lot of leg work at first but it can pay off.

Admittedly, that may not be so easy for VA’s to do though. I hadn’t really thought about them and it may not be so easy for them to avoid hourly rates – especially if everyone else is charging them. I was thinking more on the lines of coaches and consultants.