If you ask a freelancer or agency what they wish for the most, they’ll usually say “more leads and clients and recurring income.” Retainers are a popular way to get monthly recurring revenue (MRR). But retainers are not without issues and they should definitely not be considered “passive income.”… Read more
This is the holy grail of pricing services – the one everyone’s talking about but which seems out of reach. In this article, we break down the how’s and why’s of a value-based price and show how you can take the first step.
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If you’re confident about the results you can achieve for a client and not in dire need for cool hard cash, performance pricing could be an option.… Read more
When you use hourly pricing or price for effort, your pricing reflects the time, effort, and work that went into producing the service or product. But what does that mean and what are the consequences of billing for effort?… Read more
I admit it! We love value-based pricing and for many good reasons. But value-based pricing isn’t the only way to price your services. Choosing a pricing strategy can feel daunting. In this series, we’ll take a look at some common pricing strategies used by agencies, consultants, and freelancers. We will list their pros and cons to help you choose the best strategy for you.… Read more
2019 is drawing to a close and it’s time for our annual look back. These are the articles from the past 12 months that got your attention, plus a bonus.… Read more
All agencies and freelancers want to charge more and be paid for the value they provide. But what many don’t realize is that much of that value is in how they make their clients feel. They should learn from luxury resorts – a type of organization that has figured out how to create superior customer experiences repeatedly.… Read more
Brooks Digital, a virtual agency, has found a way to generate recurring revenue by avoiding large projects. By delivering constant results using retainers, they have won the trust and hearts of risk-averse non-profits. I talked to its principal and founder, Spencer Brooks to learn how they convince clients that less is in fact more.… Read more
It’s here again – that ‘most wonderful time of the year.’ Many agencies and consultants take the opportunity to thank their clients at this time of the year. Sadly, many gifts are either too conventional or boring to be noticed. Here are some ideas for acts of appreciation that clients do pay attention to and help you differentiate and stand out.… Read more
A year and a half ago, Beatrice and her family decided to change country. A move that was made possible thanks to her freelance career and the work-life balance it provides. I sat down with Beatrice to learn how she built her career and combined online community of 2,377 followers and finds new clients.… Read more
More and more people make the decision to be freelancers. The allure to be your own boss and set your own hours is strong. But to succeed in this game and get clients you need to stand out. It all starts with figuring out your position and writing a positioning statement that piques a buyer’s interest and makes them want to learn more.… Read more
If you’re looking for ways to scale your business without hiring people, service productization is the way to go. Productized services hold the key to working less and earning more.… Read more
Smart pricing is based on insights from looking in the rearview mirror and reflecting over past work. Here are 9 questions to steer your after-action reviews to focus on the value you’ve created and using that to improve your pricing.… Read more
You’re talking to a prospect. The work seems like fun and it’s something you know you’re good at. The buyer then says “So how much?” or “What’s your rate?” The dreaded ballpark price question can cause the most experienced freelancer or agency owner to feel anxiety. Luckily, there’s a way to answer it.… Read more
We’ve written quite a bit here on the blog about value-based pricing. But a question that has gone unanswered so far is what ‘value’ is. Knowing what value is, and what it means to your clients, is critical for being able to charge for it.… Read more
Making mistakes is OK – after all, they are a great opportunity to learn. One way to do that faster is through project feedback meetings and retrospectives with teams and clients. Here are four simple yet powerful visual techniques that will make your next feedback meeting even more effective, plus some bonus tips.… Read more
The only true arbiter of value is the buyer. That’s why you need to think like your buyer when using value-based pricing. To succeed at that, you need to put your value-based prices in a context of value that boosts your pricing power.… Read more
Value-based pricing means charging for the value you provide. It requires sizing and bundling work and also understanding the buyer’s motivations. But how do you go about actually setting value-based prices?… Read more
The basic idea of value-based pricing is that buyers pay for the value of what they receive. But how do you, as a seller, determine that value? What is the prospective client willing to pay? How price-sensitive are they?… Read more
To many, setting a value-based price seems daunting, even impossible. This three-part guide is intended to demystify the art of determining value-based prices and presenting them. Part one: Why you should price your work in chunks.… Read more
Buyers come in all types. From the bargain-hunting first-time buyer who doesn’t consider the value your services bring over time to the strategic relationship buyer that values you for being you. Problem is, how do you tell buyer types apart?… Read more
Many years ago when I was at the beginning of my career as a freelancer, I had a conversation. The reason I recall it so well is because it illustrates a common misconception about pricing: you can forget about being fair – you either cheat or get cheated.… Read more
A method called Impact Mapping is gaining traction in software development. It helps teams make better decisions. But it can also be used to generate valuable ideas before anything is built – during the discovery phase. In a fierce market, being able to elicit such insights when selling can be critical for winning over a prospect. This is how it works.… Read more
Many freelancers and agencies make the mistake of assuming that their services are the only thing they bring to the table. That’s almost never true. They generally offer so much more intangible value than that. They just forget it. Here’s how capitalizing on your forgotten intangible value can help you increase your prices.… Read more
I open my consulting engagements with a simple question: what does success look like? It’s a simple question that helps ensure that the client and I share the idea of where we want to go. This short question is the first step towards a shared definition of success.… Read more
