How did you get poor?
Discussion
I know a chap who inherited a successful business from his father. He was a millionaire overnight. The only problem was that he was no good at business, was generally too far nice and got shafted by successive business partners. He ended up divorced and pretty much skint. It's sad that a kindly character with a willingness to help people ended up like that.
Simpo Two said:
I know a chap who inherited a successful business from his father. He was a millionaire overnight. The only problem was that he was no good at business, was generally too far nice and got shafted by successive business partners. He ended up divorced and pretty much skint. It's sad that a kindly character with a willingness to help people ended up like that.
I studied architecture, which is years of education and accruing experience for a very mediocre earning these days. I've set up my own, solo practice now. It's interesting being faced with the reality of demanding money from people for your services, particularly when the 'value' of what you do is difficult to quantify.
I would much rather help people than gouge money out of them, which is why I continue not to make very much.
NDNDNDND said:
I studied architecture, which is years of education and accruing experience for a very mediocre earning these days.
I've set up my own, solo practice now. It's interesting being faced with the reality of demanding money from people for your services, particularly when the 'value' of what you do is difficult to quantify.
I would much rather help people than gouge money out of them, which is why I continue not to make very much.
There's lots of mid-ground between 'gouging' at one end of the scale and 'wI've set up my own, solo practice now. It's interesting being faced with the reality of demanding money from people for your services, particularly when the 'value' of what you do is difficult to quantify.
I would much rather help people than gouge money out of them, which is why I continue not to make very much.
king for coins' at the other. But presumably you quote before starting, so if the price is too high they won't hire you so they won't get gouged. For your own sake, you should charge what your work is worth.I have a friend with the same problem (artist). He's good, but charges 1990s prices because he needs the work and doesn't want to scare customers off. He relies on people telling their friends. He's about £7K in credit card debt. If you're self-employed you have to have enough confidence in your skills/products to ask the going rate or thereabouts.
Simpo Two said:
There's lots of mid-ground between 'gouging' at one end of the scale and 'wking for coins' at the other. But presumably you quote before starting, so if the price is too high they won't hire you so they won't get gouged. For your own sake, you should charge what your work is worth.
I have a friend with the same problem (artist). He's good, but charges 1990s prices because he needs the work and doesn't want to scare customers off. He relies on people telling their friends. He's about £7K in credit card debt. If you're self-employed you have to have enough confidence in your skills/products to ask the going rate or thereabouts.
The RIBA used to publish tables of recommended fees, which meant that both clients and practitioners knew where they stood. Unfortunately these were withdrawn on the wake of the credit crunch for reasons that were either ideological or inscrutable and the profession has been stagnating since. king for coins' at the other. But presumably you quote before starting, so if the price is too high they won't hire you so they won't get gouged. For your own sake, you should charge what your work is worth.I have a friend with the same problem (artist). He's good, but charges 1990s prices because he needs the work and doesn't want to scare customers off. He relies on people telling their friends. He's about £7K in credit card debt. If you're self-employed you have to have enough confidence in your skills/products to ask the going rate or thereabouts.
As with your artist friend, without some external guidance you're left to a process of trial and error, slowly ratcheting up prices until clients start to baulk... I've not got there yet.
NDNDNDND said:
The RIBA used to publish tables of recommended fees....
Learning how to price your services is the most basic skill you will need to run your own successful business. You shouldn't need an industry body to tell you the answer. I'd start by taking an average of what you closest three competitors charge and then moving the price up from there.Gassing Station | Finance | Top of Page | What's New | My Stuff