This time I want to share the story of a designer and artist who came to me because she lost confidence and motivation about her work. As it turned out, it was not her work itself that made her feel unhappy. She received very good feedback and reviews from clients, she got a lot of compliments about the design teaching she was doing. But the thing is, she was unhappy because she worked so hard and so many hours but got at the end quite a low income. Together we made a plan of action to change that.

Understanding your value

The first part was to understand the value of what she was creating in her work. One of the things we understood is that the workshops she is facilitating are not just workshops. They are a real experience with so much more value of it, such as the relaxation and being in the moment experience.

Calculate your pricing

Following the first step we defined her income goal. I have a very useful Excel sheet where you can basically fill in information such as income goals or the available hours you have. This Excel sheet has three income scenarios and three billable hour scenarios. You see a minimum and maximum pricing and the middle is something you can use as a guideline.

Communicate your new pricing

Of course, after defining your ideal pricing it’s time to reach out to your clients and shared the new offering. Emphasize the experience of the workshop. Be okay to win some and lose some. Some of your clients who are mainly looking for a cheap workshop, they might not fit in the new pricing proposition and they might go to another service provider. But those clients that match the needs with what you have to offer, you win. And that’s important to focus on when you think about pricing with confidence.

It’s actually your clients who make the buying decision: they decide if your design is worth their investment. So, keep that in mind and make sure that you understand from the client perspective what the value of your design is.