Do you want more stability than charging by the hour gives you? Fixed pricing may just be the solution you have been waiting for.
You have been charging an hourly rate now for everything that you do and you are finding that it is getting harder and harder to price your services.
Your skills are improving and tasks are starting to take less and less time, which is great for your client but is straining your bank account.
You may also be looking for a way to create more stability in your business by knowing that there is a set amount of income expected to come in each month.
Fixed pricing is often a good place to start if you are trying to move away from hourly billing.
It is not quite value pricing but it is a great next step if you feel you are not ready for that leap.
This option still has an element of hourly billing as the completion time of the task or service is usually taken into consideration.
For example, you may have a client that you service a specific amount of hours per month. It may not vary much so you could offer a fixed package amount per month.
Now, the thing to consider is what else are you providing your client?
- Do you want to offer some support, such as via phone or email?
- Is there a meeting on a monthly basis with you?
- Do they get access to specific content you have created?
You will need to be clear on this, as you should absolutely take this into consideration when determining the price of your fixed package.
Remember though, when you are pricing these additional services or access, it is not to be based on the amount of time you are giving them or the time it took to create the resources. This is bonus access or information that may not be time related.
If you struggle with knowing how to price this, start somewhere.
You can always increase the amount of your package as you get to know what it entails. Also, think about what you would be happy to pay for the service or access provided? How would it make a difference to your business?
Just something to consider to help you move into the pricing action.
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