Being a freelancer for almost all my life, there’s always this internal battle when I’m preparing to raise my fees before the start of a new year.
“Don’t charge too much! Your clients will leave. They will find someone who is cheaper than you.”
So, it’s a constant fight to convince myself to charge at a realistic rate for my clients, and at the same time, STOP undervaluing my services.
“Your mileage may vary, but one sure route to becoming an unhappy freelancer is charging just enough and hoping that the low price will keep you busy all the time.” – Seth Godin
Don’t undervalue yourself
Ok, Seth has just convinced me I have been undervaluing my services all the while, because…
I haven’t raised my fees for the past 6 years, and I’m getting less busy.
It’s not about the money when I raise my fees. (Really?!!)
Ok. I’m lying.
It’s not ALL about the money.
More like 20% money and 80% acknowledgment of my value – my skills, passion, dedication, experience and willingness to go the extra mile for my clients.
It’s like employing Elon Musk as your business coach. It’s either he does it for an astronomical fee, or he does it for free because he likes your idea. The money determines his value as your advisor.
Undervaluing yourself doesn’t only apply to freelancers. It can happen to employees too.
I have a friend, Jack, who is always complaining about being underpaid/overworked.
If you’re like Jack, then perhaps it’s time to sit down and have a talk with your boss. Ask your boss how can you can value add to the company in a way that could give you a raise.
Your boss will not “fire” you if you’re valuable to the company.
If you’re given the boot, then it’s better to go since you’re not being valued anyway.
“When you undervalue what you do, the world will undervalue who you are.” – Oprah Winfrey