My business is better since I stopped charging by the hour. Here's why.
EPISODE 36
Notes
Do you charge by the hour in your business? Do you get nervous to send invoices to your clients because it’s a shock as to how much time you spend on their work? Do you shave time off your invoices before you send them off?
I used to do and feel all of these things until I stopped charging by the hour for my services.
If you’re curious about how and why you should stop charging by the hour, then this episode is for you.
My motivation for talking about this is because I've come across a fair few peers lately who are still charging by the hour. And it got me thinking how glad I am that I no longer do this.
I want to share my thoughts with you, and also provide an alternative way of pricing your services for consideration.
I explain three common ways of pricing your business in a service-based business - 1) hourly 2) value-based pricing and 3) package-based pricing.
I run through the issues I ran into charging hourly and the reasons that I moved to a package-based pricing model. I also reveal the mistakes I made when I first changed my pricing model and how I’ve addressed these. I also run through the pros and cons of package-based pricing with some real-life examples from my own business.
This move has been such a benefit for my business. This episode will help you work out if it’s time to move to a different pricing model, and scale to the next level.
About the
Author
Bec is a chartered accountant who worked at Australia’s big firms and banks for 15-years. Faced at a crossroads in her career, she backed herself, left her corporate job and launched Straight Up Bookkeeping. 3 years and 5 staff later, Straight Up Bookkeeping is one of Australia’s leading virtual bookkeeping businesses for creatives, with a mission to free business owners from financial stress so they can grow their empires.
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