Forums: Discussions for entrepreneurs and small business.

No wonder I am so busy - I am only charging a fraction of what my competitors are charging!!!  How did this happen - when did I start selling myself short?
A site I would have done for 4-5K, their bid was for 45K.   (I didn`t bid against them on this particular job.)
  No more.

I thing a better question is- How much do you need to really make off a project?  Factor in what bills you have to pay, your profit and your personal satisfaction. 

Also think about how many potential customers you might loose by drastically raising your prices.  I worked for a company for instance that charged double the market rate for our particular type of product.  Our primary customers were very large companies that could afford to pay our prices.  Unfortunately, we lost a lot of big orders from smaller companies because they would not buy our product due to our pricing.  A perfect example is an order we lost from one small company.  It was for $30,000.  At the same time, we closed a $7,000 order for one of our big customers.


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The older we get, the more excuses we make for not chasing after our dreams. But truth is, goals are attainable at any age.

Actually, I wouldn`t mind getting rid of about half of my business. I turn away a fair amount;  Typical situation is:  I turn away clients and they go to someone else.  That `someone else`  usually does only half the job, or a poor job, or botches it, and they come to me to fix things.  As everyone knows, doing something right the first time is the best way, and it takes me longer to play janitor and clean up messes than it would have to just do it.
I am not thinking of raising them drastically, but a little wouldn`t hurt to lean up my business.

Goes to the issue of selling on price versus selling on quality and capability.