How to Establish Fees

Updated: Jan 21

As an entrepreneur, one of the most challenging aspects of running your own business is how to establish fees. It is a delicate balance between earning what you want and having your clients feel satisfied in what they are paying while also still feeling a little bit like a kid in the cookie jar, getting away with something that’s not really bad. Today, I will share with you the fundamentals on how to establish fees and tweak them over time.

Being Clear on What Money You Desire

Before laying out prices and offers, you must be super clear with yourself on the money you desire. Creating intentionality for your pricing is a crucial component to growing your business. When pricing your services, you must stop guessing and start evaluating.

I encourage you to take the time to evaluate your current average living expenses. Remember, your salary should be able to cover all your costs, your savings goals, an emergency fund, and fun money too. There is no specific answer to this, as it varies depending on the person and where they live.

Once you have that dollar amount in mind, you will need to play with various pricing models to ensure that you can get to that goal.