Just made a massive mistake with my pricing

on

Just made a massive mistake with my pricing

The other day, I posted a thread which encouraged people to put their prices up as they were probably better than others on the market.

I did just this. I whacked up my prices by 400%. I then decided to put my prices to the test.

The problem? I didn't actually research my niche's prices.

I found a couple of forums and posted my offer.

Within 24 hours I had 5 rather large purchases (20k words each). All paid up front, all scheduled for delivery over the course of a month. I have a few others in the pipeline, and they are waiting for a couple of weeks so I can deliver to them.

So, to follow on from my original post.

PUT YOUR PRICES UP AND RESEARCH YOUR NICHE TO SEE WHAT OTHERS ARE CHARGING.

On the plus side, I think I just became a specialist in a niche. This is an industry which thrives on recommendations and networking too.

Note: the prices I am charging are sustainable and I can make a decent chunk of change from it. However, it seems that I undercut everybody else by 20%. So, if this goes to plan I may have accidentally driven down the prices in the market. Sorry. I don't feel too guilty. If I can make a living, that is all I want. I need just 3 of these clients to go 'long term' and I am in a great position.

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