Check out the video teaching on this very important topic HERE!

This is one of the biggest questions of many business owners. Particularly for Christians, it can become a crisis of faith. There’s that nagging guilt for charging someone “so much.”

When I was running my portrait photography business, I discovered a vital lesson. It was essential not to focus on what all the “meet me in the park” sort of photographers were charging. I had to make wise business decisions and charge what my time was worth.

I once had a customer at my home showing them their photos and talking price and while my wife was with us. I was selling $2,000 packages and she just could not get over it. It was exorbitant to her…and probably still is. Even explaining why I charged what I did didn’t help her overcome the feeling of guilt.

We inexperienced entrepreneurs know our cost of materials and think “oh, I can only charge 10% over that.” That means you buy something for $5 and sell it for $5.05. Or you say “others are only charging $6, so I have to charge $5.50 to get the sale.”

If you do that with many things, you don’t include your time, effort, or expertise. And you can’t make a living off of what you’re trying to do without killing yourself.

It’s called CODB, “cost of doing business.” You have to consider what it cost you to produce your product or service and then you have to determine how much time you need to invest in serving that client and charge what your time is worth. My time as a photographer could be spent traveling pre-shoot to scout locations, editing time, ordering time, and more. All of that needed to be included in my pricing to my clients to keep my business sustainable, and worth my time.

I’m a water professional currently and have expertise in drinking water treatment. I’ve obtained certifications that say I’m a professional. I was asked to be responsible for the chemicals and state reporting for a church’s well system. Sure, I could have done it for free or extremely inexpensive. (It’s for a church so I can’t charge them right?) But did I really want to do it? Especially for free? No. So I calculated my costs of doing business, supplies, gas and miles traveled, etc. and I charged per hour how long I thought it would take me. And when I gave them the quote I felt confident and comfortable with it because I knew the work involved and my CODB. I’d be incentivized fully and they’d have the professional service they needed.

It starts with your value. God gives us value. We’re priceless right? He gave His best for us. He valued us, so we ought to value ourselves. And if someone can’t afford your product or service, that’s fine. They simply aren’t the right customer for you. You value yourself and charge what you need to to take care of those in your care and to make your mission sustainable.

So remember, charge what you’re worth.