{"id":22678,"date":"2020-02-13T08:00:00","date_gmt":"2020-02-13T13:00:00","guid":{"rendered":"https:\/\/honeybook.site.strattic.io\/?p=22678"},"modified":"2022-07-22T09:45:45","modified_gmt":"2022-07-22T16:45:45","slug":"6-easy-steps-to-calculate-what-to-charge-your-clients","status":"publish","type":"post","link":"https:\/\/hbb.dev.reliablepenguin.com\/blog\/6-easy-steps-to-calculate-what-to-charge-your-clients","title":{"rendered":"6 Easy Steps to Calculate What to Charge your Clients"},"content":{"rendered":"\n

Through the years, I\u2019ve had the pleasure of working with many different types of service-based creative businesses, from photographers<\/a> to dog walkers. No matter what service they are providing, each creative entrepreneur seems to have one big question: How much should I charge?<\/em><\/strong><\/p>\n\n\n\n

Part of having a healthy money mindset in your business means you should continuously re-evaluate the amount you’re charging for your service. These numbers should and will change<\/a> as your business and experience grows. Keep in mind that what you and your service are worth<\/a>, in terms of money, should grow right along with your business. <\/p>\n\n\n\n

While the amount to charge can vary widely across industries, I\u2019m going to teach you how to set a base price so you know your business will be profitable. This will also ensure that you are comfortable when providing quotes and online invoices<\/a> to potential clients. <\/p>\n\n\n\n

Below you will find 6 easy steps you need to follow in order to properly price your services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Step 1: Know Your Profit Goal<\/strong><\/h3>\n\n\n\n

First things first, it\u2019s important to know how much money you need to bring in each month in order to be profitable. You should also have a good handle on your breakeven goal<\/a> and constantly have these goals in mind.<\/p>\n\n\n\n

Of course, your actual profit and cash flow will fluctuate monthly<\/a>\u2014especially in some industries\u2014but it\u2019s important to make sure you have your mind on the money<\/a>.<\/p>\n\n\n\n

If you don\u2019t know how much you need to make each month, or if you want to make sure you have a good number in mind, check out my article explaining how to calculate your business profit<\/a>.<\/em><\/p>\n\n\n\n

You\u2019ll need your business profit number to get the best results in this exercise, so don\u2019t skip this step!<\/p>\n\n\n\n

Step 2: Use the Worksheet to calculate how much to charge <\/strong><\/h3>\n\n\n\n

Next, snag your free profit worksheet<\/a> so that you can fill it out as you go through the steps in this post.<\/p>\n\n\n\n

Step 3: Calculate\nYour Time<\/strong><\/h3>\n\n\n\n

We\u2019ve all heard it before: \u201cTime is money!\u201d<\/em><\/p>\n\n\n\n

As a service-based business owner, that couldn\u2019t be truer. Your time is spread thin. Sometimes we forget how much time it actually takes to produce the final product for our clients. <\/p>\n\n\n\n

If\nyou\u2019re not factoring in how much time you spend with each type of client you\nserve, you might be missing the mark when you build your pricing and packages.<\/p>\n\n\n\n

My\nadvice is to write out your workflow for each type of client you serve and\ntrack the amount of time you spend on each task. When laid out like this, many\nof my clients are often surprised by how much time they actually spend with\neach client. <\/p>\n\n\n\n

To calculate your time, think about each and every task it takes to get the job done. You should include in this calculation the cost of any goods or services you sell<\/a>.<\/p>\n\n\n\n

Some often forgotten tasks include:<\/h4>\n\n\n\n