Why you don’t want to be known as the dollar store business
Short answer: Do you really want those types of clients?
I often get asked what my lowest rates are or if I offer discounts for such and such. I really try not to discount my services or offer the lowest prices around. I have many years of experience and a wide range of skills that I put into my work. This experience comes at a higher cost than someone that is just starting out. Also, the fact that I live in the states says that my rates will never be as low as someone living in Asia because my cost of living is higher including all my taxes and healthcare that I pay out of pocket for as a freelance consultant.
If you pay for cheap, people see your business as cheap
When you are asking people to work for a discount, you may not be getting their best work. You may be getting only part of the package and not the full suite. Also, if you are continually asking for discounts or free work, your business may look like that. You can’t attract Nordstrom clients with Dollar Store design. You need to invest in your business as you want your clients to invest in you. Do you want your clients to ask you for discounts? Do you ask for discounts on everything you buy: the plumber that comes to fix your bathroom, the dentist or your new running sneakers? Perhaps you can get a discount on some things just by asking, but I’m not certain that you will get one everywhere, all the time.
I’ve often seen that if you pay a low price for something you will end up buying that item or service again in a short time because it wore out or didn’t work well for you. That item or service will then cost you double or more! If you went to the cheap dentist you may have caused more damage to other areas of your mouth than just the area you had to fix originally. That’s not something anyone wants, more problems than they originally had. Is it?
Are you running a dollar store business or a Tiffany’s business? Charge accordingly. Serve those that you want to serve.
Are you valuing yourself and your gifts appropriately?