From the course: Running a Design Business: Pricing and Estimating
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Time-based pricing strategy
From the course: Running a Design Business: Pricing and Estimating
Time-based pricing strategy
By far, one of the most popular ways to think about pricing design services is based on time. First, you look at a project and define the scope of work, meaning develop a description of the client's assignment. Remember when scoping to also decide on how many revisions you'll include in the price. Once you understand exactly what this project entails, you'll estimate how many hours you think it will take to do the project. Then, multiply the estimated hours by your hourly rate, and that will give you the project fee. How do you figure out your hourly rate? I'll cover that in the next chapter of this course. How do you know how many hours it will take to do the job? Well, unless you're clairvoyant it has to be an educated guess. Prior experience with this client or a project like this will definitely help. Another thing that makes estimating hours easier, is if you keep good records, especially time-sheets, on your projects so you can go back and look at the data collected. By the way,…
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