A big question in starting a business is what to charge. To know your worth takes time. My company Clearer Thoughts PLLC has been in legal existence now for two years at the end of this October. The most influential person in my life that inspire me to start a business was my own mother who had a very successful business in interior design for more than 20 years. For a period, I had the goal of starting a business but knew little of the exact steps of what to do.
Three things I knew I had to get squared away first which are getting an employee identification number, a name for my business and a website for my business. I thought the rest would follow, which it sorts of did.
Since I have had experience building websites, I thought I would attempt building one myself. I used a popular DIY service where at the end I was hoping for calls and emails would come in and trying to hold back doubt that the site I designed was not the best.
After about two months I realized I needed some help, so I joined a practice accelerator who coached me in digital marketing as well as building me a great looking site. Part of this program was being on a weekly call where various people would call in to talk with one of the marketing coaches.
One of his statements really resonated with me. “Know your worth,” especially as it pertains to time and money. After a year of graduated from that program, my mind has parsed that statement over and over as it has taken new meaning. How does this translate to running a business?
When I was at the point where my website was live and I was receiving calls and emails, the first thing I had to decide on was a price. How much was I going to charge per hour. Since I was starting out and needing clients, my price was low. Too low. The first person I counseled I charged $50 per hour and even met him at a public park. Yes, this was a great service to offer, but it was not feasible.
Of course, $50 was a great price for this client. What I had to adjust here was that meeting at a park was not working for me as it was very inconvenient when my next appointment was in less than 10 minutes at my office. Plus, this was right at the beginning of COVID19. I had to make the call that I could not meet this client at this park which was a deal breaker.
In hindsight, time is the most valuable. There have been clients who do not show up, called “no shows.” That is a lost hour I could have scheduled with another client. If this is through my business, I have a “no show” policy that the client receives in their intake packet saying they must pay the full fee. If this client is through my other contract jobs, this lost session results in lost potential income.
Since March of 2020, I have raised my hourly fee. Instead of $50 an hour, I have raised my rate. When a client says to me, “you really need to raise your prices if you are going to take a cut out of this.” That is a good sign
The best tool for any counselor is to be a good counselor. As I have grown in my experience in counseling clients, I have felt more confident in charging the full rate for a session when I the client is making changes and pondering questions I ask. I do not click with all my clients, which is normal. The ones I do click with I have met with for over a year, and it is incredible seeing them grow.
Like anything else, knowing your worth is something that takes time through the results of trial and error. Anything of value is worth putting in the necessary work and changing perspective to try and different route if need be.
If you are looking for a therapist near you then a Google search is a great way of finding one. I happen to be a therapist in Charlotte, NC but am licensed to counsel anyone in the state of North Carolina. In Google, try looking for “psychotherapist,” “find therapist,” “therapy near me,” or even “counseling charlotte, nc.” If you feel like you have hit a wall you are not able to get past, call me at (704) 458-6298 or email me at jeffhelms@clearerthoughtspllc.com.
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