Whether you are a DUI lawyer (like I am) or some other sort of service professional (think consultant, plumber, electrician, any other attorney, etc.), figuring out what to charge for your services is one of the most difficult aspects of starting a business. Set them too low, and not only will you make no money, but no one will take you seriously. Set them too high and no one will hire you. It’s tough to find that magical level. So I’m going to give you three things you can do today to help you set your fee at the right place.
Get a $1,500 Loan Today! See how easy it is here.
1. Figure Out What You Think You Should Charge
This can be done in any of several ways, but the easiest is just to ask people that are in your industry what they charge for doing the same work. What you’ll probably find is there is a wide range of fees, from really low to really high. For example, in the world of the Salt Lake City DUI lawyer, where I work, the fees can be anywhere from $1,000 to $10,000, depending on who you ask.
At this stage, it doesn’t have to be perfect, just ask around, find the going rates, and then think about what kind of value you are providing to your clients. Set your fee based on that.
2. Whatever You Think You Should Charge, Immediately Add Ten Percent
No matter who you are or what you do, the tendency when setting fees is to set them too low. Particularly when we start out in a new business venture or are still early in our careers, it’s very easy to undervalue our services. I followed this precise advice with my law firm and I was surprised when people didn’t even bat an eye at the ten percent increase. So long as you are providing a good service and providing the value that you are promising, people will pay what you ask.
3. Find Out What Makes You Different and Accentuate That
Step three is important to figuring out where you belong in the continuum of possible fees you can charge. If you don’t have much to offer that is different from the next guy, then your services are a commodity, and people will pay commodity prices. But, if you’re services are one of a kind, and you can show people that, then they’ll pay a premium.
For example, if you go out a look for a Salt Lake City DUI attorney you’re going to find a hundred different options. Many of them will all sound the same (experience, aggressive, etc.). That’s great, but when everyone sounds the same it’s hard for people to see any differences. Figure out why you are different, make that the forefront of your business, and charge accordingly.
There you have it, how to set the right price for your service based business in three easy steps. Get started today, and I can almost guarantee you you’ll be charging significantly more than you ever dreamed you could.
Related posts:
- Customer Service Survey Information What exactly is a Customer Service Survey? There are lots...
- Orange County Business Litigation Attorneys There are attorneys for just about any need that an...
Related posts brought to you by Yet Another Related Posts Plugin.
No comments yet.