Pricing your passion can be scary, whether you’re just starting out or re-working your current pricing structure. It’s something every designer will struggle with at many stages during their career. You start to feel comfortable with one price level and then realise you need to shift into the next gear when your workload is unmanageable or you just aren’t paying the bills. You’re not alone but it can be lonely trying to work it out. Which is why I have created a list of the four biggest pricing mistakes I see made too often.
Mistake #1 Failing to Communicate Your Value
Your client wants to know what makes you unique. What can you offer them that other designers can’t? By focusing on the skills that you do have, you will be able to communicate your value to the client more effectively. This understanding makes it a whole lot easier to outline your pricing as you have already established the value your services offer. A few ways you might be able to add value is through giving your clients access to exclusive trade prices or your black book of trusted trades.
Mistake #2 Lacking Confidence
Interior design may be your passion but are you confident in your pricing? Many designers are unsure about pricing their ability, and it shows! When communicating with client’s your confidence levels are noticeable. If you’re confident in your services and pricing your client will share the same sense of security. Practice saying your prices out loud in front of the mirror or at the dinner table with your partner or family. Eventually it’ll become second nature and won’t be such a trigger for you.
Mistake #3 Understanding The Industry
Just like you have your finger on the pulse for the latest design trends, it’s important that you regularly research your industry. Gain perspective on your pricing by research what your competitors charge for their services and see where you’re comfortable sitting in the market.
Mistake #4 Not Being Mindful of Time
Time is a sneaky thing and when you’re working with clients you’ll be surprised how many hours you’ll spend driving to consults, in meetings and sourcing the best possible items for your clients. It’s essential that you cover your costs and be mindful of the time you’re spending.