How to decide on your prices when you’re starting a side hustle
Serial entrepreneur and author, Nic Haralambous, shared invaluable tips on what to charge when you start your side hustle.
JOHANNESBURG – A side hustle is generally any type of employment undertaken in addition to one’s full-time job.
At most times, side hustles are things that people are passionate about outside of their typical 9 to 5 job to supplement their income.
It allows you the freedom to decide how much you want to work and earn.
On The Money Show with Bruce Whitfield, serial entrepreneur and author, Nic Haralambous, shared invaluable tips on what to charge when you start your side hustle.
“What you set out to charge is what the perceived value of your product or service is, so if you were telling people your hourly rate is R200 for life coaching, they’re only going to value your life coaching at R200 an hour.”
Haralambous describes himself as an obsessive startup entrepreneur.
He grew his first business at the age of 16 and hasn’t looked back since.
He said that one needed to keep the following points in mind when dealing with pricing:
FPFP: Friends Pay Full Price. If they are really your friends, they shouldn’t ask for a discount.
Whatever you think you should charge, you should probably double. Your perception of your own value is always lower than others’.
Know who your customer is, and be specific. If they say you’re too expensive, maybe they’re not your customer.
Listen to Haralambous’ advice below:
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