Pricing for Your Time: Get Past the Guilt

Service based businesses have a unique pricing problem. While it’s relatively straightforward to determine the actual cost of some aspects of your business (supplies, equipment, rent, travel, etc), it seems that TIME is the variable most struggle with.

If you feel guilt around setting prices for your time, you definitely aren’t alone. Most people feel guilt and shame around pricing for their time because they don’t feel qualified as an “expert” or they don’t appreciate the value of their own skills. Unfortunately, guilt doesn’t pay the bills, so here are a few things to think about when you start to feel bad about charging for your time:

It’s not the 10 minutes it takes you to do the task, it's the time you have spent developing the skills and expertise that allows you to do the task in 10 minutes.

You can never get your time back.The hours you spend serving your client = a little bit of your one, precious life. That time is your most valuable commodity.

When you hedge on your prices because you think someone will be offended by the number, you are placing their feelings above your goals.

If you don’t respect your worth, it is unlikely that other people will.

Studies show clients perceive that higher prices mean higher value.
There will be people who don’t agree with your prices, and those are not your people. The clients that really add value to your business and are in line with your goals will see what you bring to the table and will happily pay you what you are worth. Don’t be afraid to charge what you deserve and build a business and a life you love.

Share if you have ever felt guilt about charging for your time. If you have a strategy that has helped you get past it, drop it in the comments.