Figure out what to charge for your design services, and learn how to set an hourly rate, create estimates, and make sure you get paid.
- Hi, I'm Terry Lee Stone, and welcome to Running a Design Business Pricing and Estimating. I've spent my career focused on the business side of creativity. Let's face it, money plays a role in whether or not a designer gets a job from a client. Pricing design services properly is a skill, and it's one that you can learn. This course will provide you with some tried and true ways of pricing services, and estimating specific projects. Accurate pricing takes diligence, you must keep good records, like time sheets, which track your working life.
Plus, you'll need to do a financial evaluation of every project once it's completed, in order to understand how you actually work, and if your financial needs are being met. Pricing and estimating also requires a keen instinct for what the marketplace will pay you for the kind of work you do. In this course, I'll cover attitudes about money, developing an hourly rate, a variety of pricing strategies, how to estimate a project and translate that into a formal contract, and some tips on dealing with clients and money.
I want to help you develop good habits, and expand your skills, because estimating a job correctly is the difference between making or losing money, not just on the project, but over your entire year.
- Thinking about money
- Factors to consider when pricing design
- Comparing time-based vs. component-based pricing strategies
- Scoping a project
- Determining your rate based on factors like industry standards and budget
- Creating estimates
- Communicating additional costs
- Invoicing the client