When you’re pricing out your custom work and quoting a client, we tend to price based on what we think the work is worth.
Don’t get me wrong, you may price well and be happy at the end of the day.
But if you’re pricing only based on what you think your work is worth, you’re looking only at one side of the equation.
You have to look at the other side: your client.
What is the value-add you’re providing your client and how much is that worth?
It may take some time to find an accurate value or dollar amount, however, when you do this, you start to see what the opportunity cost your client has for NOT working with you. For example: “losing out on a potential increase of $250,000 in monthly revenue”.
When you start pricing based on the value your client receives, you start operating at a different level in business.