Pricing Advice for Freelancers & Experts [WRAP 151]

Hey Reader, thanks for the many kind words and replies on my birthday post. If you're new to the WRAP and missed the edition, you can read it here.

This week I had an interesting conversation with a friend about pricing strategies for freelancers and experts. It got me thinking about how we value our work, and I wanted to share some insights with you.

💡 One Big Idea: Price Based on Value, Not Time

Pricing services based solely on time is a common mistake. Remember, clients pay for the value you provide to their business, not just your hours. If you’re an expert, even just a few steps ahead, frame their work with you as a way to make or save money, and save time.

Here’s the advice I gave my friend:

💸 Always price relative to value: Start by considering the financial outcomes you can deliver. Can you help a client make or save money?

💰 Frame it in terms of ROI: If you can show a high likelihood of making or saving a client $20,000, suddenly your $5,000 fee looks like a bargain!

😵‍💫 Consider the task complexity: Not all tasks are created equal. For simpler tasks, focus on the time and mental energy you’re saving the client.

👏 Make it easy for the client: Even for straightforward tasks, emphasize the peace of mind you provide. Say something like, “How great would it be if all you had to do was write in a Google Doc and then I took care of the rest?”

🏗️ Build your “creator stack”: Continuously add skills like marketing automation, copywriting, or design to increase your value proposition.

Remember, pricing is as much about psychology as it is about numbers. By focusing on the value you bring and the problems you solve, you can command higher rates while providing excellent service to your clients.

📹 One Video to Watch: Save Hours Each Week with Make.com​

Speaking of building your "creator stack," here's a powerful way to increase your value to clients and justify higher rates: mastering automation.

In my latest video, I show you how to leverage Make.com to streamline your daily tasks and boost productivity. You'll learn to automate processes like:

• Sending Zoom replays
• Posting to online communities
• Updating Notion pages
• Managing your email inbox
• and with Make.com there are thousands more!

By creating automated scenarios, you'll not only save time for yourself but also offer more efficient services to your clients. Win-win!

Readers of my newsletter get a free month of the Pro plan when you use my link. Click here to get a great deal AND build your talent stack.

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📰 One Article to Read: Writing with Style

Someone I’ve been reading a lot of lately is Santi Villanueva, a member of the HeyCreator community and writer of Meet the Maker on Substack.

I really enjoyed his recent article on Kurt Vonnegut’s rules for writing with style. Vonnegut emphasizes the importance of writing with style to respect readers and engage them effectively. He emphasizes writing with clarity, simplicity, and embracing your unique voice.

This skill not only helps in pitching your services but also in delivering clear, impactful work that clients will appreciate.

Remember, good writing makes it easier for your audience to understand and connect with your message. By honing this skill, you're not just improving your communication; you're adding a powerful tool to your professional kit that can lead to higher rates and attract more valuable projects.

If you found this helpful, why not share it with a fellow freelancer or expert? They might appreciate the pricing advice too!

Have a great weekend,

Matt Ragland

p.s. if you have a (literal) minute to share feedback, click here.