Know How Much You’re Worth

As a freelancer, we often find it hard to price ourself right. How much is it normal to get paid? am I too cheep? am I too expensive? would they think Im not serious with the price I’m offering? There is a lot of question that goes around the head in the beginning, but also after doing it for a while. Maybe you have been freelancing for some years and both you and your clients know your regular price – and it feels like you can’t ask for more, even though your product or service is evolving and now worth more?

It is easy to give a price per hour, but should you? Your service or product is what is the most important here. If you are a fast worker should you get paid less than if you were a slow worker? You are most likely to deliver the same product or service in the end, but get paid very differently. That is why it is so important to think about the product or service you are delivering in the end. This is what the client is paying for and the result you are delivering. If a client pays you per hour, they would most likely want you to work as fast as you can, so they can get the most out of their money. If you really are a fast worker, and you can deliver fast, you have a huge potential of earning a lot more by changing the price per hour to project based pricing. If you happen to be more of a slow worker, you client could probably hesitate more about starting to work with you, and you will most likely have to define more in depth what actually takes all your time. If you here would have said «this is what I take for this kind of project» the questions would most definitely be less. They know the price, and can consider if there is room in the budget for this collaboration.

You should not give any price to your clients until you know how big the project is and how much time it will take you. You need to price the value of what you are delivering to the client, and add all other cost of your business. Maybe you have subscription of programming you use, rent of an office or other devices that are being used to deliver the project? You must definitely merge that into your price to proceed with a healthy business.

When pricing project based, it is so much easier for both you and the client to be prepared. You know what you will earn from this job, and your client knows exactly what it will cost them to use your service or buy your products.

After setting a fair price for your project that you are happy with, and a client reject you because they think you are too expensive – this is probably not the client you want to work with. Know what you are worth. Maybe they don’t see the value in what you are delivering, or just don’t have the budget for this type of project. Sometimes it feels right to meet the client in the middle, but that is up to you to decide.

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