More products, more money, more followers, these are hungry ghosts. Insatiable phantoms that have no value and never stop getting bigger.
More is an endless struggle. But, getting good at something, and improving your business, your brand, or even yourself is something measurable. You might have different goals, but the process is one that you can actually control and have a major influence on.
"More" will naturally result from being good.
In my last article, I touched on the fact that I don't bill by the hour. In summary, hourly billing is a loose-cannon way of determining the value services bring to the table and one that favors things taking longer rather than being done efficiently and strategically.
It begs the question though, how do you structure payment for such services? The way I see it, there are three options:
Pay for design services up front
This is the most common method of paying for design services. It's pretty straightforward, client and designer decide on a price based on the value created through the services, client pays for the work, and the designer does the work. Usually the payment is made upfront or on a specific cadence like 50% to start and 50% after 30 days or before deliverables are transferred.
Lease the design work
It's no secret that good designers charge a pretty penny for their work. At least, they will charge a pretty penny to part ways with ownership of it. This is where leasing becomes a viable option to get quality work, but without the initial upfront cost of buying the rights to the work out-right. For example, let's say an identity package of a new logo and style guide will cost $6,725. Rather than paying for the entire thing upfront, the client could pay 8% of the total cost per month to get up and running. If the client decides they want full ownership of the work, there is a clause within the contract stating how much the buy-out fee will be in addition to the lease payment.
If the client is willing to share profits based on the impact the design work has had on the business, then a third option becomes available. Similar to trading equity, profit sharing or performance-based compensation puts everyone's time and resources on the line. The designer and client establish the key metrics they are looking to improve and then share profits based on the value generated from the change.
When it comes to pricing design services, the key is to be as creative and nimble with pricing as would be expected in the actual work. The next time you speak with a designer and you want to work with them, but can't afford to pay their fees, see if they are open to these alternative pricing structures.
50 years ago, having a car that didn't breakdown as much as the next guy gave a manufacturer an edge.
Would you expect anything less today? No. Products need to work, they need to be easy to understand, and they need to be reliable. You need to be reliable. 24/7.
This doesn't change when entering the realm of software design. Meeting these requirements is not optional, it is expected. I'd say rise up to meet them, but it's almost like telling a runner they need to move their legs in order to participate. They are self-evident.
With me so far? Good. You've got your product working and you are prepared to help users 24/7, now what?
Focus on being irresistible. Craft a story for users to engage with, be fun, be authentic, courageous, and create as much opportunity as possible for your users to be head-over-heels for you. Specifically, head-over-heels for YOU and subsequently, your product.
If you want your software to exceed expectations, build an awesome brand.