the sort of videos I work on now are long form YouTube videos that's what I edit I don't do music videos don't do wedding shoots don't do all of these random things YouTube is where it's at and I've got on my prices now to the point where I charge between $1,000 and $2,000 per video for a long form video so between 10 to 20 30 minutes but my first 10K month was in December 2022 so about 2 years ago and I actually only charged $200 now a lot of people think you need to charge like
crazy to increase your income but if I can make 10K a month why that $200 per video clearly there was something else there and it sounds pretty obvious well just edit more videos but how do you know when you should raise prices and how do you know when it's time to actually just do more videos that's what we're going to be talking about in this video where I'm going to be giving you the three-step process of figuring out exactly what you need to do in your situation to increase your income as reliably and risk-free as
possible and starting with the first step we need to First Define what your actual goal is I want you to think about wherever your prices are right now and think about the number which you want it to be right now you probably have in your mind this sort of range where you would be happy if you were charging that amount whatever that number is lock in your mind what price would you want to get to let's say in a year form now where would you want to be charging per video Now log that number in
I want you to realize that number is irrelevant because I want to ask you was your goal through all of this through this whole editing and learning about the business side of editing as well was your goal to have this number where you can just stroke your ego by saying oh I charge this much or was your goal to make money from editing because in a weird way they're actually two separate things let me explain let's say you raised your price to whatever you want let's say you went to $1,000 per video to most people
that seems insane if you got your prices to $1,000 per video would that make you happy most people would say yes but here's the thing if that video takes you let's take it to its logical extreme an entire year $1,000 over entire year sure you can say I charge $1,000 per video but it doesn't really mean anything because your income is still basically nothing in a weird way you would make more money doing cheaper videos but just doing more of them and the reason I give that example is just to prove a point that you
might think that you want to raise your prices but at the core of it you want to make more money and it's very important we differentiate these two goals it's important to know if your goal is to make money we have a very different strategy to if you just want to charge more per video so I'm going to assume by you continuing to watch this video you would rather focus on making more money rather than just having a number that you want to be as high as possible for the sake of having a number to
talk about so let's let move on to step two which is understanding the levers which actually influence how much money we're making which change our income so fundamentally there's only two things that can change how much money you make and every single thing if you are not focusing on these things it will not make you more money you either charge more or you do more videos most people understand to charge more they want to go from whatever it's charging now to doubling quadrupling eventually like imagining 10 Xing their prices by next year but the thing
is if you just did more videos you would actually have the exact same progress towards your your goal let me give you an example let's say you're charging right now $100 per video and you want to double your income you could raise your prices to $200 per video that would actually double your income let's say you're doing one video per week you're making 400 a month if you charge $200 you're now making $800 per month that sounds amazing but here's the thing you could actually do the exact same thing we could get to the same
goal of making let's say 800 a month in that case you could do that by just doing one more video per week and here's why that's interesting and it's really important to understand this before we actually go into step three step three is where we decide which one should we focus on which one would both be easiest to implement and also with the least risk possible meaning the least likelihood chance of our income dropping by the decision that we made because if there's anything worse than being stuck at an income or not being able to
go up the worst feeling than that is actually actively going down and if you make the bad decision you'll have good months better months and then suddenly you'll drop if you make a bad decision this is how you prevent that bad decision from happening I've spoken and coached hundreds of editors and for honestly most of them I've actually found increasing prices is a potential solution for them making more money but it is the riskier one here's why let's say that you have a certain client right now who's paying you whatever amount you raising the price
with him there's the potential upside that he says yes and let's say you doubled your prices you've now doubled your income nobody talks about the downside because let's say that he says no you've now either lost all your income because he's going to say no and leave or you're going to stay with the same price and now there's this sort of awkward Vibe between you two and then in a month from now you get dropped and you have no idea why but it was because that awkward situation sort of played out but on the other
hand let's say we didn't raise the price let's say we just took on another client meaning we've basically taken on more videos if we were doing one video per week with this guy now we're doing two videos per week with both of these guys your potential upside is that you're now doing double the videos meaning your income will double so it's the exact same upside as you raising your price but here's the difference you've basically got no risk because you can't lose money by taking on a client potential downside is pretty much nothing okay you
might have about 3 days where you're working more than usual but you get used to it and here's the interesting part people say that they don't want to take on more videos or more clients because they're scared they're not going to be able to keep up with the workload but I want to ask you this think about when you first started editing not when you just like sort of figured it out on the first time but when you actually started taking it more seriously you thought you were genuinely productive but you might look at that
version of yourself whether it be from a few months ago or 6 months ago a year ago and you look at him and you like bro you didn't even know what work was what do you mean you were near burning out or you were trying so hard BR if you saw how hard I'm working today you would wouldn't even call what you're doing work so you know that your work capacity has increased here's the funny thing you're going to look back at the version of you now in 6 months from now and you're going to
be like bro you work like a here's the thing the way you increase your work capacity is by taking on more work not increasing your work capacity first and then taking on more projects you basically have to just throw yourself into the deep end like literally the worst case scenario meaning everything goes wrong when you take on a new client and do more videos is you've doubled your income this is the worst case scenario you have to work a little bit harder and your work capacity will increase meaning you're better at working in the future
boohoo so you notice how doubling your price for a certain client and just taking on more videos both have the same potential upside but one of them just has a huge potential downside is this me telling you that you should never raise your prices no because if I was taking that advice I'd still be at $5 per video which I'm clearly not the time you want to raise your prices this very specific moment when you are already over booked you should be working at above your capacity Maybe by 10 20% of what you can literally
handle that is a good time to raise your prices most people wait to raise their prices until they're nearing their work capacity they're like oh I could take on one more video or two more videos per week but I want to raise my prices first it's like that's when you fall into this dodgy territory of if someone says no your income is dropping if you purposely take on one more client let's say right now you're physically able to take on one more video I I'm telling you take on one more video and then try to
take on another one more like after that the reason being you will feel stressed and you will feel on the brink of burnout good that is your indicator that you are going to raise price you're working with two three four guys what you do is you look at the cheaty piss guy and you don't drop him you never drop client instead what you do is you raise your price hoping that they say no because here's what happens when you use this over book method where you take on more clients than you can handle you now
have leverage you have power you have choice because when you're normally raising prices how does it feel it scary right it's like what if this guy says no my income is going to go with it when you've over booked yourself and now you're raising price to pretty much get rid of the guy best case scenario the guy says yes You' charged a crazy amount where you've never even thought it was possible guy says yes you just got your highest paying client worst case scenario he says no he was low paying anyways and you have other
clients and now you have more time to deal with those no matter what you win in this situation but you cannot get into this golden opportunity this almost perfect situation if you don't allow yourself to take on more projects than you can handle because the reality for most editors is honestly so so sad they'll get maybe one or two clients quite luckily they'll go into some random Discord or Reddit thread or do some random crap to get a client and now they're almost like holding on for their life just to keep this guy and now
when they want to ask him for a raise they'll raise it by like 10 or 20 bucks per video but here's the thing every time you raise a price for a certain client it is likely for them to say no it's just a part of the game if I told you that yo this apple is $5 you wanted to buy it and I said well it's actually $7 you're in your right to say well I don't actually want it completely normal so if we are going to raise the price you might as well do it
by decent amount to the point where it's worth it because if I went from 100 bucks to 110 bucks 10 bucks isn't going to change my life if I fell underpaid at $100 I'm still going to feel underpaid at $110 so I've risked the note in the small case scenario that he said yes I still feel underpaid if I'm going to risk a no if I'm going to drop someone by raising my prices I'm going from like 100 to 150 100 to 200 100 to 250 like basically adding like a 100 bucks 200 bucks I've
even had times where I helped a guy his name's artam we raised his prices from $1,300 per video so already quite high but for the amount of work he was doing he was spending like I think 5 to seven days on the video we wanted him to raise his prices he wanted to raise his prices by a few hundred so from 1,00 to around like 1.5k I told him bro you're risking the relationship anyways if he's going to say no he's going to say no anyways you might as well like go raw in this and
be like it $2,000 I told him bro send $2,000 asking for $2,000 and if he says no he was going to say no at 1,500 anyways if he says yes at least it's worth the risk here's the funny thing the client said yes and now autum had a $2,000 per video client so that's the process I Ed to basically figure out how to increase my income you either need to get more videos done or you need to raise your price but you can only raise your price comfortably if you are taking on more videos than
you can handle so hope you found this useful if you did like it you can like subscribe do all the YouTube I don't know um you're an editor you know how this stuff works it'll basically recommend stuff to you if YouTu think you like it so yeah take care peace
