If you’re a new small business owner offering professional services and are struggling with nailing down your pricing, you’re not alone. At SCORE Maine, we talk with a lot of new services providers who find arriving at the right rates a mysterious endeavor. With no inventory or cost of goods sold to deal with, you’d think pricing professional services would be easy. But that’s not the case!
Time and value stand as the predominant considerations when determining rates for professional services. Assessing each correctly involves understanding all the factors involved in providing the services you offer, as well as the value you bring to your clients.
As you consider the time spent in delivering your services, there’s one component a lot of new professional services providers fail to consider.
The time they’ll spend collaborating with clients.