Someone asked me recently what the top thing I see photographers struggle with is. What immediately came to mind is pricing. Practically every day I see questions in groups about how to price packages or print offerings. It seems that most of us figure out how to price ourselves by asking a bunch of people in the industry what they charge for something and guessing from there.

And I get it. It’s tempting and seems logical to price yourself by finding out what similar photographers and videographers are charging. It’s quick and easy, you don’t have to do any math, and if someone else is charging that price it must be correct, right? But the truth is that pricing based on actual numbers instead of guesswork is one of the most important steps toward building a sustainable and profitable business. Here are my top three reasons why pricing yourself matters.

1. Money! Ok, ok – this is the obvious one. But we can’t deny how true it is. Most of us are running our photography or videography businesses not only because we love it but also because we want to make a living from it. Your business expenses, personal expenses, and financial goals are your own, and they may be vastly different from the other photographer you just based a session price on. We should be pricing according to our own needs and goals – not someone else’s. It’s important to have a general sense of the market so you know where you fall and can ensure you aren’t undercutting it. But the bulk of your pricing strategy should be based on those real numbers. You deserve to know your worth and to be able to charge what you need to so you can thrive financially.
2. Prevent Burnout Have you ever taken on an extra job even though you promised yourself you would leave a certain weekend open or overbooked yourself because you weren’t sure if the jobs you had already would be enough? It’s usually a recipe for burnout and it’s not fun. When you learn to price yourself confidently you know exactly how much work you need to book in order to meet your goals. You can confidently turn down gigs and gain more of your time back if you know you already have enough work and income.
3. End the FOMO Just like learning how to price yourself free up your time, it can also give you emotional freedom and peace of mind. Imagine being able to confidently turn down inquiries for work that isn’t what you want to do. When you have a clear picture of your financial needs and goals and your pricing is aligned with them, you can make decisions to turn down work that doesn’t light you up without fear of missing out.

Are you ready to learn how to confidently and accurately price yourself? Great news! I have an absolutely free course on how to confidently price your prints and albums just for you.

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Or if you’d like to have a conversation about pricing and your business and financial goals, drop me a note and book your free exploration call.