In the design industry, TBC sees a lot of designers struggle with talking about money and setting the right prices. Overcoming these challenges is so important not only for personal success but also for the industry as a whole. And it all comes down to one thing. Mindset. Here’s a simple guide for you to work on your mindset to help you raise your prices.
It’s crucial to recognise your own skills and creativity. This is something we encourage our students to do in DBA University. Knowing what you bring to the table is the first step in setting fair prices. Your work is probably more valuable than you think.
Switch Your Thinking:
Instead of worrying about losing clients, focus on the many opportunities that come with charging based on the value you provide. This is quite simply, value based pricing. Raising your prices doesn’t limit your opportunities for clients, it just sets you up to avoid the red flag clients a little more. Coach Kenzi was recently a guest on Guidance Councelor Robin’s podcast about this topic. If you want to learn more about the difference between high ticket clients and low ticket clients, listen to the episode here. Setting higher prices sets a positive standard for the entire industry.
The reason you’re scared of money could be because you’re not talking about it. We’re taught that money is a taboo topic and shouldn’t be discussed unless it’s behind closed doors. Don’t be afraid to discuss your rates openly. Clearly explain the value you provide, and be transparent. This helps build trust with your clients and even potential clients, while making pricing discussions less uncomfortable for others too.
Since not a lot of designers are discussing their rates, it’s difficult to conduct research to find what others in the industry charge. That’s why we created our TBC pricing guide for designers who are stuck on where to begin.
Probably a really crucial one for your mindset that probably gets overlooked. Building a strong portfolio that highlights your best projects not only attracts higher-paying clients but also gives you confidence in raising your prices.
Low prices are an issue across the entire design industry. You can’t expect clients to know everything about it. Help clients understand the value of your work. This can be done with attraction marketing which is something we teach all of our students in DBA University.
Raising your prices isn’t just about making more money for yourself;
It’s about making the design industry stronger as a whole.
By working on your mindset and pricing strategies, you can help us build a more sustainable and respected creative community and break the starving artist mentality.
Embrace your value, talk about money openly, and set a standard that reflects the quality of your work.