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Found a stat that made me scrap my whole pricing model

I was reading a report from a small business group in Portland last week. It said 62% of new service businesses fail because they undercharge, not because they don't get enough work. I always thought the hard part was just finding clients. My own numbers showed I was working 60 hour weeks but barely paying myself. I doubled my rates for new clients starting this month, and the sky didn't fall. Has anyone else had to make a big pricing jump to actually make a living?
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3 Comments
keith900
keith90018d ago
Wow, that stat is a real eye-opener.
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hannah400
hannah40017d ago
Seriously, I tripled my rates last year and my best clients didn't even blink.
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wade871
wade87118d ago
Man that stat is a real game changer. Always figured getting the work was the whole battle, but maybe charging enough to actually live is the real trick.
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