Knowing the value of your work can go a long way in helping you establish your fees.
There's an old joke about physicist Niels Bohr that illustrate this principle.
A company's machine breaks down. The company's owner, an old school chum of Niels Bohr, calls in the physicist for help in fixing it.
Bohr examines the machine. He draws an X on the side and says, "Hit it right here with a hammer."
The company's mechanic hits the machine with a hammer. It springs into action. The company's owner thanks Niels Bohr profusely and sends him on his way.
A few days later, the owner receives an invoice from Bohr for $10,000.
Shocked, the owner phones Bohr! "Niels! What's this $10,000 invoice?
You were only here for 10 minutes! Send me a detailed invoice."
Bohr agrees to send the invoice. A few days later, the company's owner
opens a new invoice.