How I Price My Work as a Student Entrepreneur

As a student entrepreneur, balancing academics with a business raises the vital and challenging issue of pricing my work, where I have had the greatest difficulty. In particular, I noticed that I was stuck between the fear of losing potential clients to overcharging and of devaluing my work by undercharging. I noticed rather quickly that my time is restricted due to my classes; exams and projects need every hour of my business to count. I calculated the costs of my work, not focusing only on the materials and resources, but also the value of my time, the experience I have, and the opportunity cost of accepting one project over another. I settled on the pricing that my work offered value against the students' pricing and adapted my approach geographically as well as on my value as a student—unorthodox and unbounded industry thinking, adaptability, a tireless work ethic. My confidence has improved in communicating my prices because I learned that being transparent and illustrating the value behind the price earns more respect than being the cheapest. To preserve my energy for higher value work, I created pricing tiers to cater to a wider variety of clients.

Pricing isn’t only about money; it's also about sustainability, self-worth, and self-esteem. While studying and running my business, I continue to refine my pricing strategy, ensuring the respect and compensation I deserve for my work and time.