When I first started in business, I didn’t realize just how much things would actually cost. I thought a $1,500 website would be more than enough money for my time.
How little I knew.
Even if you run an efficient business, expenses add up quickly. Insurance, legal, software, accounting, and many more little things you don’t originally think about contribute to your overhead.
And then there’s the time you spend doing marketing and working on your business. Sales conversations take time, taking away time from doing other valuable things. Doing admin work takes time—and it’s not billable. Marketing takes considerable time with no guarantee of a payoff.
It all adds up.
When you’re creating a price for your work, you should feel a little nervous the first time around. Chances are, you have a higher overhead than you think.
And even if you don’t, no business is great without considerable reinvestment into learning, marketing, and innovation.
Charge more than you think you need and you might just end up with enough.