(Photo by Franck BLAIS)
I got to a point where my business was humming along pretty well – except I was stressed all the time, had no idea how to expand, and wasn’t happy with our bottom line.
We weren’t losing money. In fact, we had operated with zero debt since the business opened, a particular point of pride for me. It sure would’ve been nice to make more, though. I’d earned less that year than when I was working as a newspaper reporter.* I had no idea how to get there, though.
My state provides free small business advisors, so I took them up on the offer. I ended up sitting down with one of my wife’s old college buddies, and he laid it all out for me – not necessarily how to make more money, but how much to charge for video services, based on how much I wanted to make over the next year.
And once you know exactly what your fee should be, and why it should be that amount, it’s easier to tell clients that’s what you charge. So, assuming you’re a more-of-a-creative-than-a-business-type like me, I’m going to save you a trip and share the secret.