Are you a freelancer? What’s your hourly rate?
It’s tough, whenever you’re approached for work it can be difficult to step up and tell your customers that your rate is $60 per hour, $90 per hour or even $150 per hour.
So what do we do? We tell people our rate is $30 or $40 an hour.
After all, that’s more than you;d make as an employee, right?
There’s a big problem with that – you’re going to work yourself into the ground or go completely broke charging so little.
Why is this a bad idea?
I personally charge a lot more than that for wholesale work – my retail is rate is even higher.
I made this video explaining just why that is, if you are freelancing I highly recommend you check it out..
Don’t use hourly rates for anything… or possibly not at all!
Create package prices that tightly define what the customer gets, if they step outside of this package, hit them with additional charges – it could be a set price again or you could then apply your hourly rate.
When coming up with packages, estimate your time and calcilate it based upon your hourly rate.
Either way, with a minimum package price you end up with a higher earning potential as you get rewarded for your efficiency.
Imagine taking 40 hours to build a website, charging by the hour, then 6 months later you build the same thing in 20 hours. You’re now making half the money for the exact same product.
Reward you’re improvement in skill, that’s a little bonus tip to go along with the video.
I hope you found that useful!
Got some ideas or feedback? Leave a comment below, I’d love to spark up a conversation with you on this topic.
Otherwise, thanks for dropping by and as always, have a top day!