Do you use value based pricing?

Do you price by the hour? Or do you price based on your hourly rate?

Pricing by the hour really undermines how efficient you are and how quickly you can get a result. If you can get the same result in less time, why should you be paid less for it?

You have to work out what the value is to the client of your work. For example, if you are in HR, can you deal with employee disputes quickly and efficiently with minimum stress on each side? That's worth a lot of money to a client.

Are you saving someone time, money, or providing peace of mind? An accountant might save all three, but the main pain is making sure you are paying the right tax and not missing anything.

Think about the problem you solve and what results you get for the client. Why should they hire you and not someone else?

Ask clients different questions when you talk to them. Not about what they want doing but about why they need it - why now? Why you? What are they looking to get?

This is tricky to start with but with experience, you will know how to price your value. You will understand what they need to get out of the project, how urgent it is, how important it is, what results they are expecting.

You won't talk about how you are going to do it or how long it takes because it's not relevant to client. They don't care! They only care about the result you can give them and the speed you can do it. And of course, as painlessly as possible!

So start asking the right questions about why people want to work with you and this will help you move towards pricing based on your value and not your hourly rate.

You could end up doubling or tripling your income just by selling this way, as you get experienced at selling. Start by asking what transformation they are expecting and how quickly. Why they need you, now. And go from there.

If you want help with this, book in to have a chat with me here