Any self-employed person will tell you that it can be tricky figuring out what you're worth, what your fees should be, how to compete with others in your industry, and how to get paid the money you deserve.
So now I'm on Lesson 7, "How to Set Your Fees and Get Them," and I think the topic is pertinent. Now I'm reading the textbook How to Set Your Fees and Get Them. This book helps wedding planners determine how much to charge for serrvices and learn abou the fee structures used by self-employed contractors--such as charging an hourly rate as opposed to a flat fee.
The book includes very valuable information on using formulas to calculate fees and writing a letter of agreement for clients. I like that Penn Foster relies on an outside opinion and expertise on this topic--because it's that important.
Many self-employed people are tempted to do favors for others or barter their services. If you feel comfortable bartering, that may be an option, but you shouldn't do anything for free. You have to do this to be in business and every professional knows that money is a practical aspect of business--especially making it.
Another good idea, according to the book, is to offer other people's products and services to your client. This will help increase your income and boost your image.
But of course the best way to get paid is to set reasonable rates that cover all of your expenses and take into account your level of experience and the service advantages you can provide. The calculator is a great tool to help set your rates. Once you practice good business practices--invoicing regularly, communicating clearly with clients, setting your terms upfront and in writing--you can get paid, too.
Packed with tons of great tips, I enjoyed reading How to Set Your Fees and Get Them. It offers the basics for any beginning bridal consultant. So once you're done with that, you can start to hop on board the profitable money train.