Feel Confident in Your Pricing

Many people think making money is dirty or bad (especially women). And even worse, sometimes we’re not even aware that we carry around this belief - it just shows up in how we conduct business and life.

And especially now - I see many entrepreneurs getting lit up because they are selling during times of the coronavirus - the audacity. But I also see those same naysayers buying subscriptions to Disney+ or Zoom - and not lamenting that those companies are still marketing to consumers.

We’re all affected by what is happening in various degrees and we’re all doing the best we can. And people still need services, people still need entertainment, people still need to feel good about their surroundings. So if you’re willing and able, I don’t see anything wrong with keeping your business running and marketing and selling to clients.

It’s not shameful to make money - even during pandemics.

A Money Experiment

So, let’s do an experiment. For each of the statements below - say them out loud and then see what comes up in your mind - is there any resistance? Do you agree or disagree with these statements? Are there underlying actions that are sabotaging your efforts? The overachievers can get a pen and paper and journal their insights. Everyone else can just think about it.

I love making money.

I deserve to make money.

My business deserves to be profitable.

My time and talents are valuable to people.

I should be compensated for my time and talents.

Change Your Mindset

I think one of the main reasons that interior designers have such trouble with pricing is because of these money beliefs. They think that the perfect pricing model will resolve the issues that arise because of these ingrained money beliefs (of both the designer and the clients) and that it will eliminate any pricing discord resulting in smooth projects. (Let me know if this resonates at all in the comments below.)

But, what I have come to realize, the pricing model doesn’t matter. What matters is how you present your pricing (confidently) and how you run your business (with integrity, honesty, transparency, clarity). This helps much more with profitability and success than a certain way of billing.

Having a certain way of billing doesn’t alleviate difficult conversations with clients, talking about pricing, it doesn’t result in effortless sales - in other words, it is not the pricing model that makes money issues disappear.

Read more: Biggest Pricing Mistakes Designers Make

Value Your Time

If you don’t value your time neither will clients. Giving away hours, discounts, having a too-low rate, not having project minimums - these are all signs that you don’t see the value of your time.

It’s important to understand that you are running a business. And businesses are supposed to make money.

You cannot run a profitable business if you don’t value your time.

This is why I recommend that designers who are struggling with this track time. I get it, creatives generally don’t want to do this and it can be tedious. However, you’re running a business and this is invaluable required information.

Understand how long it takes to do the work, how much time different tasks take you to do, how much time you’re “wasting” and can’t bill, how many hours you’re giving away for free.

Read: Interior Design Services Aren’t for Everyone

Know Your Worth

You may have heard the story about Picasso doing a quick sketch on a napkin for a fan. When the fan told him she’d pay whatever he thought it was worth - he replied $10,000. She exclaimed that it only took him thirty seconds and he replied, “No, it’s taken me a lifetime to do that.”

That story shows the value of knowing your worth. You are charging your clients not for an hour of your time, it’s your experience, your talent, your expertise, your business structure that results in a wonderful space for your clients to feel safe and good about themselves.

When you know the value you are bringing to a client and their project - not just the time you are committing to them - you will feel more confident with your pricing.

Magic Pricing Model

I’ve written about it many times before but there is no magic pricing model. As I mentioned at the beginning of this article, what matters is not the pricing model (how to price), but that you feel confident in your pricing and that you run your business with integrity, clarity, and transparency.

This means that you are fair and honest, that your pricing is clear, easy to understand and not complicated, and that you are upfront with clients about how your price and don’t try to hide numbers from them.

When you can achieve all these things, pricing becomes much easier, you’re setting up clients expectations as well as your own therefore the issues are fewer and more easily resolved.

So remember, work on those money beliefs - this could be the first place you’re losing confidence. Make sure that you work on bolstering your own idea of the value of your time. Know your worth and the value you bring to your design projects. And finally - forget finding the perfect pricing model and instead work on feeling comfortable with your pricing and run your business with integrity, clarity, and transparency.