In the 1800s, John Ruskin wrote about something he called the common law of business balance. His words are just as relevant now as they were then:
“It’s unwise to pay too much, but it’s worse to pay too little. When you pay too much, you lose a little money, that’s all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot, it can’t be done.”
Ruskin’s point is simple: if you go cheap, you usually pay twice. Either in wasted money, wasted time, or a result that doesn’t work.
For anyone setting their own rates; freelancers, consultants, small business owners - this is worth keeping in mind. Pricing isn’t just about numbers. It’s about value, trust, and sustainability.
The problem with pricing too low
When you undercharge, you don’t just make less money. You create bigger problems:
- You attract the wrong clients. The ones who choose you only because you’re cheap are also the ones most likely to demand the most and stay the least.
- You compromise quality. If you have to take on too many projects to make ends meet, something has to give. Usually, it’s the quality of your work.
- You undermine trust. A low price often signals low confidence. Clients notice.
This is exactly what Ruskin meant: sometimes the thing you sell at too low a price simply can’t do the job.
What fair pricing looks like
There’s a balance point between charging too little and charging too much.
- If you price too high without clear value, clients walk away.
- If you price too low, you burn out or deliver less than promised.
- The sweet spot is pricing that reflects the real value you create.
When you find that balance, both sides win. The client gets the outcome they wanted. You get paid fairly for the expertise and effort it took.
How to apply Ruskin’s law to your own pricing
Here are a few practical steps:
- Price for outcomes, not hours. Clients don’t buy your time. They buy the result. Anchor your price to what your work achieves.
- Factor in quality. Build enough room in your pricing to do the job properly — research, testing, revisions. Cutting corners costs more in the long run.
- Be transparent. Explain what’s included and why it matters. When people understand the process, they understand the price.
- Adjust scope, not value. If a client needs a lower price, reduce what’s included. Don’t give the same work for less — scale it back instead.
The takeaway
Cheap work almost always ends up being expensive.
Ruskin’s words remind us that fair pricing is not about squeezing clients or underselling yourself. It’s about balance, charging enough to do excellent work, and delivering enough value to make the price fair.
If you want clients who respect your work, price it in a way that respects it too.
