How to price your services without guessing
Stop basing your rates on what others charge. Here's a framework that starts with your actual numbers.
Every creative I've coached has struggled with pricing at some point. The typical approach is to look at competitor rates, pick a number, and then feel secretly guilty about it. That's a recipe for resentment — either you're undercharging and burning out, or you're overpricing and losing sleep over imposter syndrome.
Here's a better way: start with your personal financial floor. How much do you need to make per month to cover your living expenses, taxes, savings, and a little fun? That's your baseline. Then add your desired profit margin — say 20-30% — because you're running a business, not a hobby. Now divide by the number of billable hours you realistically have (not 40, more like 20-25, because creative work requires thinking time).
That number is your true hourly rate. From there, you can build project fees by estimating hours and adding value for your expertise. For example, if your hourly rate is $100 and a brand identity takes 40 hours, the base is $4,000. But if your work saves the client from hiring a marketing team for months, you can justify doubling that. The key is to anchor your pricing in your own needs, not someone else's menu.