Raising Your Rates
Raising Your Rates

Raising Your Rates

“You accepted less because you thought a little was better than nothing. Know your worth.” - Trent Shelton.

In the world we live in nowadays, I feel as if most people are unaware of their worth. There are people who work various jobs that they dislike. There are people who don't understand the value of taking the time to improve your skillset in a knowledge worker society while also being absolutely upset most of the time.

As somebody who has been finding their own growth from a self-improvement and business standpoint for the past year, I am not unaware of what it means to find your own value and the struggles that come with the modern economy.

For this episode, I wanted to talk a little bit about how you can raise your rates and do different things from a freelance standpoint that could help you live the life you want. I'm going to reference what I did a few years back when I was in college to give people the baseline idea of something and then move forward with this idea into what it could mean for your life.

As a junior in college, I was somebody who had experience video editing for his own YouTube channel on and off throughout his life and had taken a bit of a break in college. I decided one day I really wanted to video edit to make some spare money on the side and pay for a new and nice desktop computer.

If you sell yourself well enough and deliver a quality product that helps somebody solve a problem they will pay you crazy rates for things that may not even be that extensive. At the time, what I wanted to do was be very nice to these people and go about it in a way where I would make money video editing at whatever rate they were willing to pay me. This crawl to the bottom is not the way to go.

After going after paying clients, I stumbled upon a video that taught me the value of raising your rates while doing freelance work. After that my next two clients paid me $40 an hour. That's right. I was paid $40 an hour in college for something I didn't have a degree for and had very little experience with.

The whole reason this happened was because I pitched it in a way that made sense for me. I figured out that if I made videos fast enough and was paid $40 a video then I could raise my hourly rate. I ended up being able to edit these videos in an hour or less which gets me to that $40 hourly rate.

With a marketable skill and some selling, anybody can put themselves in a similar position given enough time and effort. The difference between freelance work and a salary job is that you set the rates and can increase your pay dramatically if you value yourself enough. I recommend trying to build a side income with this tactic and eventually blowing past your full-time income and deciding which you want to do more.

By practicing a skill and selling your services on a freelance website like Upwork you can eventually turn that skill into a business. It’s possible if you take the time to make it happen.

Have an awesome week!

  • Demetri

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