Nicolas Cole says a solo ghostwriter should fill five client slots at $3,000–$5,000 per month each before raising prices. Once you hit that baseline, you can choose to raise rates or add more clients.
If you're debating when you should raise your prices, here's the mental model you should go through. You, as a ghostwriter, have 5 client slots. Each slot is filled with a client. I have learned that the sweet spot is around 5 clients for one person. You really only have 2 options: you either charge more per client or take on more clients. If this is what the ideal client roster looks like, but your roster looks like this, is now the right time to raise your prices? No, because you haven't achieved the first milestone, which is, I just need to fill all 5 slots. So the first step is I need to get 5 clients paying me something. And ideally, you should be charging at least $3,000 a month, $3,000 to $5,000 at least. If you accomplish this, you're in a great spot.
What Every Writer Gets Wrong About Their Audience #writing #creator #writingtips
