Why does pricing get us so worked up?
Because it’s hard, people! There are so many factors that go into coming up with a fee that feels good to you and your client, that it gets most of us a little bent out of shape at times.
The complexity inherent in pricing creativity—and the belief that an hourly rate serves no one—is probably the reason that helping creatives get paid what they’re worth has been a theme for my entire career.
When I started out as a rep for freelance copywriters, art directors, and fashion illustrators in the early 2000s, my job was to land great projects with fancy schmancy brands, negotiate fees and terms for the creative talent I represented, and close the deal. I can still remember the first time I quoted what sounded like an ungodly fee for a fashion illustrator we represented, and got a “yes” from the client! Something new clicked in my brain – that creativity and value are subjective and pricing creativity is equal parts math and art.
In my subsequent role as a business coach for creative freelancers and entrepreneurs, I have shared this knowledge with countless freelancers and small agency owners to help them become more profitable by aligning their pricing strategy with their unique value proposition and business model.
“In less than one month, Justine has transformed my business. Prior to our work together, I was undercharging, overcapacity, and stuck in a business model and scarcity mindset that prevented me from growing. Within three sessions, Justine helped me align my pricing with the value I provide, create more time and space in my schedule to do my best work, and gain clarity on the business I want to grow over the next 5 years. She also supported me as I priced, negotiated, and secured my largest contract yet.My ROI in working with Justine is already 3x the investment I made in her services. I can’t stop singing her praises to friends and colleagues, and I can’t wait to see what we create together in the next 5 months of coaching!” — Emily Hammel-Shaver, Lumos Communications – Brand Strategy | Copywriting | Web Design
Learning how to price your creativity for fulfillment, ease, and profitability is something I believe anyone can learn and get good at with enough practice. You just need the right information, tools, and support. Let’s break it down.
Step One: Pick Your Pricing Strategy
In my experience as a business coach for creative freelancers, I’ve learned that the reason we struggle with pricing is because we think it’s one-dimensional—when it’s actually extremely nuanced.
Don’t want to figure out the nuances yourself? You don’t have to! Check out my free Pricing Guide for Freelancers and Small Agencies where I break it all down in an easy-to-digest format.
💡 Heads up: You’ll get the chance to download the full guide after you grab your freelance hourly rate calculator. Keep an eye out for it in your inbox series!
Step Two: Calculate What An Hour Of Your Time Is Really Worth!
Even though I’m firmly against quoting an hourly rate to clients, I’m a proponent of knowing how many billable hours you actually have—and what a billable hour of your time is worth.
Why? Because you’ve got to base your estimates and proposals on something. A billable hourly rate ensures you know what number results in profit in your creative business—and what number is akin to working for free (or worse, losing money on a job).
Now, every person’s baseline number will be different, so I’ve created a nifty Freelance Hourly Rate Calculator to help you pinpoint your pricing sweet spot! 🎉
Download the Free Rate Calculator here!
Pro-tip: Build in a buffer for the negotiation process, unexpected work, and delays. You’ll never regret that it was there!
Step Three: Get Support
The info and tools I shared in Step One and Step Two will help you get clear on your pricing strategy and your true hourly baseline.
The question I’ll leave you with is this: What will you do with that information?
Maybe you’ll:
- Rework your value proposition (what you do, who you do it for, and why it matters)
- Create a new service or offer structure
- Raise your rates for new clients and projects
What freedom and potential will you carve out in your freelance creative business?
Got questions or takeaways? I’d love to hear from you—drop me a comment! And if you’re looking for hands-on help with pricing and positioning, I offer one-on-one and group coaching options. Let’s chat!
It doesn’t matter how and when you get there. As long as you’re on your path to pricing happiness, you’ll be golden. 💫