Exercise: Calculate Your Rate
Exercise: Calculate your hourly rate and compare that to past invoices.
Current Hourly Rate
How did you come up with this rate?
How many clients pay this rate?
Do you have any discounted clients?
Ideal Hourly Rate
a) How much money do you want to make this year?
b) # of weeks you want to work this year
c) # of days you want to work each week
d) # of hours you want to work each day
A/B/C/D = your ideal hourly rate
Is your ideal rate higher or lower than your current rate?
Will your market accept your ideal rate?
How much did you make last year at your old rate?
Based on last year’s hours, how much could you have made using your ideal rate?
How can you leverage your expertise to justify your ideal rate?
Ex: How can you show your expertise to more people who understand the value of your ideal rate?
Ex: Can you create a group coaching program or a signature program that helps more people while also paying you what you’re worth?
Ex: Can you create a VIP day for those members who understand the value you bring to their lives?