Today I’m teaching you how to determine your pricing model in your business. Whether you’re a service provider or you sell products you can use the formulas I give you in this episode to calculate what your hourly rate would need to be to make sure your time and hard work are energetically returned to you.
First of all, I encourage you to not work more than 40 hours per week, unless it’s truly temporary.
Next, we want to identify the yearly salary you want to pay yourself. Then, we factor in the two types of ways you work in your business. The work you do is highly specialized. Some of your time is spent on client work; and some is spent on administrative work. I always look at market comparisons and help my clients design a pricing model that compensates them for the value they’re providing their clients. We don’t announce their hourly rate, but we use it to price their packages.
Thanks for listening! Is there a topic you feel not enough people are talking about in the small business scope or one I haven’t discussed? Send me a DM because I would love to know and possibly cover it in a future episode! Let’s keep this conversation going!
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