tl;dr: A quick story how not to undercharge when doing client work.
In college I bought a used moped from a Ducati dealership, look at that hog 😏
Me and the owner of the Ducati dealership somehow began talking about ways to change his website to start ranking in Google at the #1 result for "Ducati Dealership."
He asked me to do the changes and send an invoice...
I had NO idea what to charge.
Being 20 at the time, I thought $500 would be incredible.
I told my mentor about this, and he said, "YOU BETTER CHARGE HIM AT LEAST $5,000 OR I WILL SLAP YOU!"
It was hard to fathom someone would pay that much for a simple SEO project..
Best case scenario I thought:
I'd tell him $5,000, he'd laugh in my face, and I'd negotiate down to $1,000. Still great money to me!
But a funny thing happened: I told him the price and he instantly said, "Ok cool, when do we start." 🤯 🤯 🤯 🤯 🤯 🤯 🤯 🤯 🤯 🤯
He didn't question the price and he immediately agreed to it.
That's when I realized to him $5,000 was cheap to be ranked for "Ducati Dealership."
He sells $25,000 sport bikes all day long, so to him $5,000 wasn't much.
Lesson: When working with businesses, try charging high....like 10X more than you think. Charge for the value. You can always negotiate lower.