The questions of "What should I charge?" is one that seems to show up in my inbox all the time. So in order to answer that very question for you, I invited Tim Bouchard, one of the great thought-leaders in the area of pricing to share his answers to this sometimes thorny question.
Tim runs a successful full service branding agency called Luminus Media and has a truckload of insight that I very much enjoyed exploring. Here are some of the points we covered.
- When to ask for your client’s budget
- What to do if they won’t give it to you
- When to Increase your prices
- Who Tim would choose to be on his personal all-star brains-trust.
- How Tim broke into the industry and how he would do it now if he had to start from scratch.
We cover all that and more, including Tim’s entrepreneurial debut with hand-drawn comic books in school.
You can find Tim on Twitter @timbouchard and you can get his ebook on the Luminus Media site.
PS: We has some technical difficulties part way through, Tim sounds a bit choppy but don’t worry, it clears up after a couple of minutes.
- Life Before the Web industry [1:00-6:00]
- The Journey to Luminus Media Success [6:00-11:26]
- What would you do if you had to start from scratch? [11:26-13:30]
- What does a day in your life look like? [13:30-18:07]
- Who would be on your personal brains trust [18:07-20:22]
- What is Golden Mean Pricing [20:22-25:13]
- The Golden Mean formula [25:13-31:10]
- Asking your client for a budget [31:10-33:15]
- How should you work out your rates if you are new to the market? [33:15-35:50]
- When to raise your prices [35:50-36:17]
- Wrap-up [36:17-37:02]