- How you structure your services will have a huge impact on the way your business operates, & there are pros & cons to every approach. In this lesson I’m show you how to decide between different pricing models & packages, so that you can get clear on which model is the best fit for you. Then crunch some numbers and look at the three different factors you need to consider when setting your pricing!

The first thing you need to do is decide on a pricing model for your business, and there are essential 4 different models to choose from: - hourly rate - project-based - monthly retainers based on a set scope - monthly retainer with a flexible scope (or base rate + add ons)

The next question is, how much should I charge? This is a big question with no simple answer as there are so many factors involved and it varies based on your type of business and the services you offer.

There are 3 main things that factor into your overall pricing strategy:

1. You want to make sure you are more than covering your costs
2. You want to be fairly compensated for the work that goes into the project
3. You need to have a compelling value proposition for the target customer you are attracting.

So it just needs to be fair, but competitive and still profitable enough to justify running your own business. Once you’ve crunched the numbers, then you need to think about your target audience, your brand positioning & the psychology of pricing.

We’d love to hear what you come up with - share it with us under our dedicated post for this workshop on the IOC facebook page or instagram account. And as a little bonus, everyone who shares their thoughts or biggest aha-moment will go in the drawer to win all 4x of our new foundations mini-courses that are launching in 2024 worth $350 each!.

P.S. Want to dive deeper? We hope you’ve found these strategy session lessons helpful as you plan your new year, and if you want to go further this is only a tiny fraction of the knowledge and practical techniques we share in each of our digital bootcamps. We pull back the curtain and share step-by-step exactly how to build a sucessful business as a photographer, web developer or social media manager. Enrollments for our 2024 digital & Bali bootcamps are open now and if you send us a message via live chat with the message ‘2024 strategy sesh bonus’ for an exclusive offer that expires on the 7th Jan.