Just realized I was asking for way too little money for my work

I was talking to another installer at a supply house in Tacoma last week. We got on the topic of a tricky vinyl plank job. I said I charged $3.50 a square foot for it, and he just stared at me. He said, 'Man, you're leaving at least a dollar on the table, easy.' I'd been using the same rate for two years because it felt fair. Now I'm torn between keeping my prices low to get more jobs or raising them to match what I'm really worth. How did you figure out your own pricing when you started out?

4 comments

4 Comments

amy_reed794d ago

Totally agree with what you said about undervaluing our work, @grant.kevin asked what made you finally see your worth and for me it was a buddy who straight up told me I was hurting the whole trade by charging cheap prices. I realized being the cheap guy just gets you the worst clients who complain about everything. Raising my rates actually got me better jobs and more respect from everyone I work with.

grant.kevin2mo ago

What made you finally see your worth?

perez.cole4d ago

Yeah I gotta disagree a bit. I know people say raising your prices gets you better clients but I've seen plenty of guys charging top dollar who still get walked all over. To me seeing my worth isn't about what I charge. Its about knowing when to walk away from a job that's going to be a headache no matter what they pay. I had a client offer me triple my normal rate once and I still turned it down because I knew they'd never be happy with the result. That was the moment I really got it.

reeseanderson2mo ago

It's wild how we undervalue our own work. I see that same pattern with friends in different fields.