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Home » Business And Finance Articles » How To Charge What You Are Worth As A Creative Professional

How to Charge What You Are Worth as a Creative Professional

If you are having difficulty knowing what to charge, then check out your competition and find out what they're doing. Find out if they post prices or fees on their website or if they have "packages" or deals. Do they have payment options?

While you are researching, keep in mind just because your competition is charging one way it is not necessarily how you should be charging.

One of my clients is a business and life coach. Most coaches charge for a set number of scheduled phone meetings, which seems to be a standard for "the coaching industry," but that doesn't mean it's the best way.

I encourage my clients to charge fees that match who their clients are and what they are trying to accomplish. It's very refreshing to do what works for you and not necessarily follow the "industry standard." If you don't feel comfortable with the way your industry charges, by all means change it. Just because the industry's doing it doesn't mean that it's right.

Another client of mine, Shelly, is a wedding planner. When we first began working together she had three "wedding packages" because that's what "everyone else does." She ran into problems with pricing because most of her potential clients didn't fit into the standard package and therefore Shelly had a long list of "upgrades" and additional items. She also had to charge more for weddings above a certain number of guests and weddings with over a specific number of attendants in the wedding party.

Potential clients became fixated on the package fees and felt ripped off when Shelly began adding additional charges all over the place. The packages were supposed to make things easier for Shelly's, but they actually created more problems than they solved.

Shelly was so relieved when she realized she didn't have to use the standard pricing packages most wedding planners used. She never felt good about them, but didn't trust her own instincts on how to charge. We worked on making a pricing structure that wasn't based on hours or packages but on the value to the client. She was able to quickly raise her fees and increase her client base simply based on her fee changes.

Are you charging your clients based on the value you are providing them or based on the "industry standard"? Is the industry standard an effective way to charge or is just what everyone else is doing?

Take a good look at the way you set your fees and handle client charges. Is it right for you?

And here is another random article you might be interested in...

8 Point Checklist, Evaluating Online Vendors

Here are 8 things to consider, when evaluating lenders online:

1. Website Design
2. Privacy Policy
3. About Us
4. Popularity
5. Reputation
6. Short Form
7. Points, Fees, Terms and Rates
8. Communication

1. Website Design:

The webpage is, in fact, the storefront of the internet. In the real world, your first impressions make all the difference. Well, it's no different on the internet.

1. Does the site seem forth-right? Can you glean valuable information immediately, or does it appear that you are being pushed to click here, click there?
2. Does the page load fast, indicative of a reliable server, or does it seem to take forever for everything to be displayed (or worse, are you receiving various error messages).
3. Are there a ridiculous amount of pop-ups, pop-unders, and other in-your-face ad campaigns, or, does the lender simply put it all out there for you to decide?

Examine the website design, and trust your first impressions.

2. Privacy Policy:

You will likely be sharing some personal information, in exchange for loan offers. You shouldn't be so concerned about this that it limits your ability to reach out to possible lenders. However, use your common sense.

1. Does the website post its privacy policy? If so, take a quick peak at it.
2. Does it seem to make sense, and is it reasonable?

Virtually all trustworthy online businesses now have posted privacy policies to both assure you of their intent, and to comply with current laws and regulations.

3. About Us:

Does the lender post an "about us" page?

1. If not, this could be a red flag. In other words, the lender should take pride in its history, its vision, and its mission statement. An "about us" page is an opportunity for your lender to tell you a little bit about themselves. If you don't see it, then what are they hiding?
2. On the other hand, if you do see an "about us" page, go check it out. How long have they been in business? Where are they located? Do they post a phone number, and do they provide contact information? What are their policies and philosophies?

Reading the "about us" page can tell you tremendous information about the lender.

4. Popularity:

Take your lender's website address, and plug it into Alexa.Com. Alexa is a tool, created by the folks at Amazon, to evaluate traffic on the internet, and to provide a venue for visitors to post critiques of websites.

1. Popularity is gauged by the Alexa rating, and the lower the number, the higher the rating. For example, our site, http://loanresources.net , as of today's date, has a 3 month average Alexa Rating of 86,517. This means that we are one of the top 100,000 websites in terms of traffic (and popularity). If we get down to let's say 50,000, then our traffic and popularity has increased.
2. You can use this tool to evaluate the traffic of your prospective lenders.
3. Our advice is this: Don't be blinded by popularity alone. There are plenty of competitive lenders and mortgage brokers out there with the highest integrity, which may not, necessarily, have a favorable Alexa rating. It doesn't mean that they shouldn't be considered. It is simply a measurement of traffic, and that's it. Don't miss out on what they have to offer.

Just use popularity as one of the many tools at your disposal, when evaluating online lenders.

5. Reputation:

There are a number of ways to evaluate a lender's reputation. Talking to friends, family, and associates, of course, is one way. Another method is to see whether or not the prospective lender is a member of the Better Business Bureau (BBB at BBB.Com), and if there are any complaints on record filed against them.

1. The BBB produces what's called a "Reliability Report", and this report will provide you with corporate information (such as name, address, phone number), BBB membership information, whether or not the lender is a participant of the "BBB Online" program, along with a complaint history, and each complaints final resolution.
2. The report also states the overall rating that they give the lender. Remember we discussed earlier, that popularity is not everything? Here's a prime example. You'd be surprised how many "popular" lenders, may in fact carry a rather lengthy BBB Reliability report filled with a variety of complaints.
3. Again, just use your good, common sense, and consider reputation alongside all other factors.

Also, if you see something on the reliability report that may be concerning you, talk to your prospective lender, and see if they can give you a reasonable explanation for what happened.

6. Short-Form:

Complete an online "short form" application, and within minutes, several competitive loan offers could be making their way to you.

1. Consider the short form application, when evaluating the lender. Is it short indeed, or are they asking you for way too much information?
2. Be expected to share some basic information about yourself, such as name, phone number, salary information, etc., but never disclose what you feel is too personal or compromising, such as a social security number, credit card numbers, etc.
3. Does the short-form make sense, is it well organized, and is it simple for you to follow and understand? This is important, because if the form is easy to complete, the lender may be saying that their whole loan process is simple and easy. On the other hand, if the form is arduous and complex, what does that tell you?

So, evaluate your comfort level with the context of each lender's short form application online.

7. Points, Fees, Terms, and Rates:

After you complete the online short-form, prospective loan offers will almost instantly be making their way to you.

1. These preliminary loan offers will present you with important information about the points, fees, terms, and rates being offered.
2. This, of course, is the nuts and bolts of what you are evaluating...This is the dollars and cents of your preliminary loan offers.
3. Obtain several offers, and compare them to each other.
4. Who offers the best savings? Who seems too low to believe? Who is way too high to consider?
5. Check the current rates and see how these offers compare. We've got a RateWatch set up at our website, or, you can find other resources from any search engine.

8. Communication:

After you've obtained several loan offers, it will be time to talk to your prospective lenders over the phone.

1. Do not fear this process. Remember, you are the buyer of this product, and you are in the driver's seat. Think of it as an interview, and you are in charge. Ask some good questions, and see if you are comfortable with the relationship forming.
2. How does the lender strike you over the phone? Is it someone that you feel you could do business with, or, does the conversation seem forced and uncomfortable?
3. Use the phone call to evaluate the relationship, and to obtain useful information.
4. Do not make an immediate decision. Talk to 3 or 4 lenders, and then take a pause, and evaluate what you've learned.

Use your instincts to gauge who you worked well with, and who might present challenges down the road.

We've enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.

Publisher's Directions:

This article may be freely distributed so long as the copyright, author's information, disclaimer, and an active link (where possible) are included. For more information about mortgages, debt consolidation, credit repair, and all other forms of consumer loan, credit, and debt products, please visit our website at http://loanresources.net .

Disclaimer: Statements and opinions expressed in the articles, reviews and other materials herein are those of the authors. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.