Moving through the Pricing Fear
There are always many different fears that come up with running a photography business. One big fear is pricing one's own work.
It's the voice in your head that can be your worse enemy:
- Reminds oneself that you aren't worth that much
- That your competition is much cheaper and better
- Convincing yourself the client can't afford your rates so you must lower them
- You really need the work
- Justifying to yourself it will lead to more work
- Justifying to yourself it will lead to a portfolio piece
I find when I have priced out of fear, I typically don't get the assignment anyways. If I do, I end up beating myself up for taking a lower less profitable rate. In other words, I allowed those fears to lower my self worth.
Remember to always price out of what you know the assignment is worth. Keep in mind your cost of doing business and your self worth. There may be some cases where not making a profit is the best solution. But, you should make a profit and don't be your own worst enemy by talking yourself down.
Things to do before submitting the estimate:
- Go for a walk by allowing nature and your motion to calm your fears and excitement
- Get your mind off the estimate and be open to a new idea.
- Share the estimate with a trusted friend in the business
- Don't lock yourself into a trapped mindset. Stay open to a new way of pricing your project.