One of the biggest decisions a business owner has to make is deciding what to charge for their products and/or services. For some, it’s an easy decision for others not so much.
When starting a business it’s not uncommon to test the market by giving away your products or services in exchange for feedback. But at some point, you have to decide if you’re running a business or a volunteer agency. If it’s a business then you’ll need to charge.
Shifting from free to fee doesn’t have to be hard. Below are 3 ways to make going from free to fee a smooth transition:
- Practice discussing your fees out loud. The more comfortable you are discussing money, the easier it will be to have that conversation with potential clients.
- Test the market. Ask your ideal clients what they are willing to pay. But there’s two points of caution, one, keep in mind that you need to cover your expenses so know what they are. Secondly, make sure that the survey group understands the product and/or service.
- Grab my FREE “Price for Profit” template (here), audio and action guide here so you don’t have to keep guessing what to charge to break even and generate a profit.
When you let go of the CVO (Chief Volunteer Officer) mindset and decide to become a true CEO, you make room for the clients and customers that want to pay for your services. If your time is occupied by clients that aren’t paying you, you’re leaving money on the table. Those “no fee” clients may be willing to pay for your services but you won’t know until you ask.
Don’t let your passion or desire to help others keep you from charging for your services. If you don’t believe your services are valuable, it will be hard to ask for the money and generate the income you deserve.
In the end, you get to decide whether you’d like to continue running a volunteer agency or build a highly profitable business.