How To Quadruple Your Turnover.

2 replies
For three and a half years I have pounded the virtual streets learning everything I can about running a successful online business, but it was only this year that I got one really important lesson drummed into this thick skull of mine.

People will pay you what you think you are worth. So if you ask $30 for a job that is actually worth more, they will happily pay it. If you quadruple that to $120 some people will gasp “You are so expensive” and choose not to use your services. Then you will get one client that says “Great” and sends you the money before you have even started.

Now you have 1 client who paid you the same as 4 clients, and you have time. Time to do a great job. So good a job that the client cannot stop raving about your service. And you still have time to spare. Time to market your business, strategise your long term goals, learn a new skill or just read a book.

Then you get another client who just sends you money via Paypal and says “XX recommended you. Please can you ….”.

I know from personal experience that when you are just starting out, you are so desperate to make money and a name for yourself that you will sell your services for $5.00.

Here is a better plan. Offer to do something for someone completely free of charge, and then wow them. Once you are done, ask them if you can use the work you did for them as a reference.

It took me a really long time to get this. What you know right now is worth money. There are people that do not have your particular skill set, and they need you to provide the service for them at rate that is worthy of YOU.

I saw a post earlier today where someone was only charging $25 for 5000 words for ghost writing. That’s half a cent per word. You may not be the best writer in the world but if you can string a coherent sentence together and have a reasonable grasp of grammar, you are already worth so much more than that.

So take a long hard look at what you are charging people. If you really don’t think people will pay you 4 times what you are charging right now, try doubling it and then see what happens in your business. You will lose a few customers, but the type of new customer you get is worth more to you in the long run. Later on, you can try doubling it again.

Please don’t take as long as I did to learn this lesson. You will save yourself years of stress and angst.

#quadruple #turnover
  • Profile picture of the author AnniePot
    This truly is brilliant advice Di. I stopped writing for clients more than two years ago because I wanted to concentrate 100 % on writing for myself. I spent the prior year slowly running down my core base of clients.

    While I was working as a paid writer I received between $250 and $350 for the content I created; usually involving a thousand plus words. I well remember one occasion when one company sent me $1,000 via PayPal and a request for 3 pieces of content.

    It continues to make me cringe when I see people offering their writing services for pittances; surely it reflects their self worth. Such a waste.
    {{ DiscussionBoard.errors[8978238].message }}
  • Profile picture of the author Sean DeSilva
    Nothing wrong with starting low and raising your rates as demand permits. I do agree with you that many people fixate on a single price range and never test their boundaries, though.
    {{ DiscussionBoard.errors[8978506].message }}

Trending Topics