Put a value on your time

[mouakter13]

So breaking into the WordPress market can definitely be a challenge, and if you get your pricing wrong, this could ultimately be the reason your business fails. If you price it too high, you might not sell anything, but if you price it too low, it could cost you more in support and maintenance than the revenue you make. One of the biggest recommendations we always make is to not price your product or service too low . Below we’re going to get into some reasons why this is important and some advantages of going this route.

Always budget extra time for support
Don't underestimate your service or product
Raising prices after launch can sometimes be advantageous
Using data-driven pricing techniques
1. Put a value on your time
Whether you’re a WordPress developer charging by the hour algeria phone number data or trying to price a new WordPress plugin, the first thing you need to consider is the value of your time. As they say, “Time is money…” And this is very true. For a freelancer, one factor in this could be how quickly you are compared to your competition. If you can produce twice the amount of code as your colleagues, then your time is definitely worth more to a potential client. If you’re selling a product, you need to ask yourself how much time you invested in creating the product. Did it take 2 years to develop, or 2 weeks?

the value of your time

Morten Rand-Hendriksen, a top-rated author on Lynda.com, wrote an excellent article in 2014 titled “ The Value of Time – How to Charge What You’re Worth? ” In it, he asked his social media followers the following question.

If I paid you to sit still and do nothing for an hour, how much would you charge?

The answers he received ranged from $40 to $800, with the average being $100 per hour. The reason he asked this was to see what people thought their time was worth without any other factors involved. He did this simply to prove a point, that people value their time highly, but have a tendency to undermine themselves . This could be for those of you who are self-employed or when you are evaluating what you think the investment of time in your product or service is worth. Always put a value on your time.