As you get better and faster at your work, should you get paid less?
Unfortunately, that’s bound to happen if you charge by the hour.
Consider this scenario…
Martin is a freelance copywriter who charges $80 per hour for his copywriting services.
For his first couple of freelance projects, charging by the hour worked just fine.
But as he got more skilled, he was finishing projects much faster. His clients liked this — they got their results faster and cheaper. Martin felt like he was losing out.
And the last thing he wanted to do was pretend to take longer just so he could charge more to pay his bills.
One way or another, hourly billing hurts either you or your client — or both.
What if there was a better way?
What if you could create more value for your client and charge more it — and they’d even be happy that you did so?
That’s what you can do with value-based fees.
With value-based pricing, you are charging based on the value and outcomes you create for your client instead of just charging for your time or deliverables.
This does two things:
It forces you to think about