007 The #1 reason most creatives undercharge

11/05/24 • 13 min

Let's chat about the #1 reason creative business owners undercharge and learn a simple, proven pricing formula to boost your profitability. Perfect for photographers, copywriters, designers, and freelancers looking to optimize their pricing strategy.
Chapters:
00:00:20 - Root cause of undercharging in creative industries
00:01:00 - Pricing formula for service-based businesses
02:40 - Calculating your target revenue and client capacity
05:40 - Factoring in expenses and taxes
08:20 - Strategies for gradually raising your prices
10:40 - Accounting for "odd jobs" in your pricing structure
We're covering:

Understanding the importance of confidence in pricing
Reverse-engineering your rates based on income goals
Considering taxes, operating costs, and owner's pay
Incrementally increasing prices to build confidence
Adapting pricing for various service packages and custom projects

Ready to finally be confident in pricing your creative, 1-1 services? Get my custom pricing calculator: https://www.emilykim.co/photo-pricing-calculator
Even though it says Photography Pricing Calculator, this spreadsheet + guide works for anyone who offers a 1-1 service. Enjoy!

Thanks for listening!
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11/05/24 • 13 min

Profitable Creatives Podcast - 007 The #1 reason most creatives undercharge

Transcript

00:00:40.000

Hello, and welcome back to the profitable creatives podcast. I am Emily Kim. And today we're talking about. The number one reason why most creatives undercharged for their services. You are undercharging for your photography or other creative services, because you are probably looking at what other people in your industry are doing for the answer. But looking at what other people are charging isn't necessarily the cause of undercharging. It's a symptom. The root cause

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