pricing advice

[tonyk]

would you consider $15 per 300 words for proofreading and $20 per 300 words for editing to be reasonable?

[ronniewilliams]

Welcome tonyk at SBF and my advice for price is that you must consult this price from the market that how much price are taken by the other people who done the same job.

[bridiej]

It's a bit of a "how long is a piece of string" question really.

You need to do some research into what your competitors are charging and work from there.

Also, consider who your target market is. For example, if you're targeting students you won't be able to charge as much as if you were targeting big business.

Research is absolutely key.

[PeteFrederick]

You have to realize that you may set your price, but it's the market that determines if the price is acceptable. Try to determine what your competition is charging, and try to match that. I usually in any business come in low with a price and once business is established then I increase the price to match the competition. Always provide value for your business, never try to take advantage of your clients.

[JakeThomas]

I must say, I disagree with the previous comments about matching your competitors price.

Does that price cover your costs and allow you to make a reasonable profit?

From a customers perspective (which I'm assuming as a business owner I am) price isn't my main motivational factor - sure, if it's excessively expensive then I might think twice, but what matters most is the quality of work.

[v2Media]

Yup, agreed Jake.

What your competition charges has nothing to do with what your charges should be. Does the market determine price? No - that's also stupid. This obviously doesn't apply to retail goods or what not.

If your services are in high demand, you can command a high price (price maker). If there's no demand for your services or very few successful sales, it's time to revisit your marketing plan and rethink how you sell to potential customers.

If you suck at sales, have no clients referring, and have no compelling marketing/advertising pitches, then you're left with price to compete with (price taker). For a professional offering services - this would be dangerous ground. In 3rd world countries that also offer your services, where labour costs $2 a day, you're screwed if you think you can compete on price.

Price wars are for vendors selling vacuum cleaners and mp3 players, not professional services.