Join Tom Geller for an in-depth discussion in this video Setting prices, part of Freelancing Fundamentals.
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One subject that gives freelancers a lot of anxiety is how to price their services.…We want to make a good living, but are afraid of driving the market away…by charging too much.…So, what's the right amount?…Simply put, it's the area between charging too much and charging too little.…Believe it or not, the bigger problem that freelancers face is that they charge too little.…So, I'll talk about that first.…There are few reasons freelancers charge too little.…If you're coming from a salary position where you did similar work, you might…figure out your hourly rate there and charge private clients a similar amount.…
But that's way, way, way too low.…First of all, you're not going to bill 40 hours a week.…Second, you now have to cover expenses that your employer used to pay.…One rule of thumb puts a typical freelance rate at two and a half times the…hourly rate that freelancer would get with an employer.…That's not always right, but the point is that your rates will be much higher per hour.…A second reason you might charge too little is that you can't believe someone…
A bonus chapter covers common questions freelancers have when entering the field.
- What is freelancing?
- Defining your career goals
- Funding your startup
- Getting licenses, permits, and insurance
- Setting prices
- Finding work through agencies
- Getting referrals
- Working with time and project management tools
- Increasing your rates