Think of the value
If someone with unlimited money had a problem that only you could solve, how much would you charge them to solve it?
Sometimes when I’m developing a quote for a potential client, things that don’t matter affect my rate.
I think of the fact that I only graduated college a few years ago. I think of how I haven’t had a full time job at an ad agency before. I think of how I’m only 24 years old and I didn’t go to a prestigious college. I think of how the project won’t take me that much time. I think of how much I’ll “probably learn while doing this.”
Then I feel unconfident and don’t charge very much.
But none of those things should be considerations when I develop my rate.
The only two things I should consider are:
Am I confident that I can deliver a high quality product or service?
How valuable is the solution to my client?
At the end of the day, it doesn’t matter where I went to school, how old I am, how much experience I have. What matters is that my solution brings a ton of value for my client, and makes their life better.
It’s important to incrementally charge more and more for projects because it changes your mentality as you work. Knowing that someone is paying more than you’ve ever been paid elevates your work ethic and creativity.
I encourage you to ask yourself the initial hypothetical question: If someone with unlimited money had a problem that only you could solve, how much would you charge them to solve it?
I find that considering this question reveals many insecurities I have about myself. Insecurities that stop me from charging a good rate for my work. And that’s wrong because it’s hindering my personal and professional growth.