EP313: Ruth Lundstrum – Unleashing the Freelancer’s Guide to Calculating, Justifying, and Increasing Prices

In this episode of the How To Cut It Podcast, I have the pleasure of chatting with Ruth Lundstrum about one of the most crucial aspects of freelancing: pricing. We dive into a discussion about the challenges that freelancers face when determining their pricing and the true value they bring to the industry.

During our conversation, we uncover the common issues surrounding lowering prices and the importance of justifying costs. We also touch upon the dynamics of pricing in different areas and with different types of clients.

But it doesn’t stop there! Ruth shares some eye-opening insights on the misconceptions surrounding appearance and poverty, challenging the notion that luxury services are out of reach for those in deprived areas. We also explore the incredible benefits of raising prices and fostering an environment of self-care for both freelancers and their clients.

If you’re looking for practical advice on when and how often to increase your prices, as well as effective ways to communicate those changes to your clients, Ruth has got you covered. She generously shares her own journey and pricing examples, along with valuable tips on managing finances and navigating the salon industry.

This episode is a must-listen for all freelancers who want to master the art of pricing and take their business to the next level.

Show notes

Heres some key takeaways from todays podcast with Ruth Lundstrum

  • Pricing is a crucial aspect for freelancers and should be approached strategically.
  • The Freelance Suite app provides a simple and efficient way for freelancers to calculate their pricing.
  • Freelancers often struggle with pricing due to a lack of understanding of business and their own worth.
  • It is important for freelancers to recognise their value and charge accordingly, regardless of their setup or location.
  • People in deprived areas still value luxury services and are willing to pay for them.
  • Consultation and listening to clients are crucial for providing a personalized and satisfying experience.
  • Increasing prices can lead to higher profits and a more sustainable business.
  • Creating an environment of self-care and entertainment can enhance the client experience.
  • Confidence is key in pricing and business decisions.
  • Managing finances and understanding the value of money are essential for long-term success.

Todays guest

Ruth Lundstrum is a Freelance Hairstylist and Creator and Founder of The Freelance Suite Mobile Pricing App. Ruth is passionate about money, finance, the industry she love so much. She is on a mission to bring tools and education to the industry to help empower stylists with everything they need to be able to get off the never-ending hamster wheel of work more, make more, spend more. To help them not just change their view of money but to change their relationship to it. The Freelance Suite app was born out of a desire to help freelancers price themselves correctly in the easiest way possible. Stage 2 of my mission-to help freelancers learn how to manage the money they’re  now earning and sew the financial seeds of their futures.

Ruth Lundstrum

THE FREELANCE SUITE APP INFO CLICK HERE DOWNLOAD THE FREELANCE SUITE IOS APP HERE 1-2-1 COACHING WITH RUTH CLICK HERE PRICE INCREASE SCRIPT CLICK HERE FIND RUTH ON INSTAGRAM @ruth__lundstrum   MORE INFO ON JOINING HTCI PLATFORM CLICK HERE