Hourly rates always lead to burnout. Here's how to avoid it.
You need to know your baseline hourly rate, but I'm not a fan of charging by the hour. It's not a sustainable business model as you are continually penalized for being faster and more efficient.
So what's the solution?
One alternative is to begin charging flat fees for your services.
But picking a number out of a hat is not the solution.
Now I'll be honest: Setting a flat fee can be risky. You may end up undercharging for the project. There may be things that come up you didn't anticipate. Using my practical process, you'll be prepared to handle all of these things.
You'll finally begin to build in a profit margin that translates to more free time – and happier clients.
Flat pricing can't be reduced to a paint-by-numbers formula that you apply to every service you offer. The answer is to develop your own formula for each service, which is unique to YOU and how you work with your clients.
To help you do this, I created this training video which walks you through a real example from one of my clients. It teaches you the process of how to arrive at a flat rate and what to think about as you go through each of the steps.
By the end of the video you'll:
- Know how to create your own flat pricing formula so you can make more money – starting today
- Know when you should (and shouldn't) use a flat fee
- Be confident in your sales conversations, knowing the investment you make in delivering your services and the value you bring to your clients
Pricing isn't some kind of dark art. It's actually a logical process.
Let's take a closer look at how it works. But first...
Step 1: Download the workbook
The workbook allows you to create your own pricing formula while you go through the video example. You'll want to print out a copy and have it with you while you watch the video.
Optional: You can also download the Excel template to take advantage of the built in calculations. (Don't you love it when the hard part is done for you?)
Step 2: Watch the video
Enter your email and click Play to watch the video. If you need to pause and come back the site should remember where you left off. (Nifty, eh?)
Running time: 58 minutes
- 07:53 | Guidelines for when you should and shouldn't use a flat price
- 13:56 | Why flat pricing is good for you and your clients
- 24:15 | Step-by-step instructions on how to create YOUR unique pricing formula
- 50:00 | Bonus Tips: Handling objections during sales conversations
Step 3: Begin using your new price
Once you've completed the workbook you'll know exactly how much to charge for your service. And if you still have questions? Move on to Step 4.
Step 4: Schedule a complimentary Income Strategy Session
You can work with me in focused, one-on-one, results-oriented sessions. This gets you exactly what you need in the time-frame you need it in. Click the button below to book a session.