How to price your time, your services or your products
The answers depend on a large number of factors. What is more valuable for the lost hiker who has been wandering for days in the desert, a bottle of water or a backpack filled with forty kilos of gold? What do you buy for your loved one, a gallon of perfume/cologne for five dollars or a small bottle of perfume/cologne for 30 dollars?
A higher (hourly) rate results in higher self-esteem; a good rate is important for your wallet, but even more important for your happiness. Studies show that fair compensation for your work increases your self-esteem and happiness. Thus, lowering your prices will lower your self-image. (And for scientific reasons we are still looking for people who think they are overpaid and are not happy about that. Please leave us a message and provide tips for how to deal with that.)
It appears that the price is determined not only by the quality or quantity of the item, but also and perhaps largely on the expectations of the buyer. Although, the price is obviously important and a price reduction can increase sales, there are also examples where a price decrease leads to a decrease in sales. Wary consumers may think: “It’s so cheap, it simply can’t be good.”
Place, time, quality, supply and demand all affect the freelance rates. The prices in the US for the same services vary by almost 55%.
With the Freelance Rate Guide you don’t have to worry about being too expensive, or worse, being too cheap. The guide includes five methods you can use to determine your hourly rate. In addition, the guide contains hourly rates of more than one hundred and fifty professions. This guide is an indispensable tool when negotiating your rate and when determining your price.
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