I got quite a few clients by NOT charging $50 an hour. 2 clients still on the computer. One for over 48 years. The other for over 45 years.
I must be doing something right..........
My standard billing rate is over $200 per hour, but that's just the nature of the work I do. I work plenty of hours every week, but I'm not "paid" (i.e., by a client) for all of them ... or even half of them!
:-)