How Should I Price My Services?
The dreaded pricing question.
How do I know how much to charge? How much is everyone else charging for this sort of thing? Am I asking for too much or too little?
For freelancers who are just starting out, here's some advice from the pros. 👇
Josh, Brand Designer: Pricing is always tricky. I felt uncomfortable charging what I wanted to charge and I wasn't sure if it was too much, or too little. My advice would be to go with your gut. You know you've got talent, don't give it away for free. People will pay for quality and these are the clients you want to attract anyway.
Harmony, Social Media Manager: It all comes down to timing: how long a project takes me to complete, from start to finish, based on an hourly rate. I also consider the cost of the computer programs I use for freelance work and how much I need to make to cover my basic expenses.
Francesca, Customer Support Rep: I feel almost embarrassed to admit that I started out accepting work for $5 per 500 word article just so I had reviews I could share. Yikes! I definitely DO NOT recommend anyone do this. Once I had a few clients under my belt, I began increasing my rate. It definitely reflects my experience now.
Nicole, Designer & Copywriter: The biggest advice I can give is to make sure you find the balance between being a business owner and the skill set or service you provide. My mistake was seeing myself as a designer & writer first, and a businessperson second. My fees increased as I learned to do the math and figure out exactly what I wanted to make. I would also recommend tracking your time effectively. This is the only way you can keep the jobs coming and get paid appropriately.
Morgan, Freelance Accountant: Since accounting is quite a niche industry, my initial starting prices were a bit below market level but not too low. I was privileged to learn from other freelancers early on in my career, who set their starting rates too low and ended up burning out too quickly. I knew I was in it for the long haul and needed to make my prices sustainable and work for me and my family.
Brainstorm Time! 🧠💥
Three ways you can decide your pricing:
✔️ Ask other freelancers in the GUAVABEAN Freelancer Group.
✔️ Think about how much you want to make and go with your gut on a number that feels like fair compensation for your time and skills.
We hope you've found the answer to your question. Or close enough...
Have another question about freelancing? Leave it in the comments!
Adiós Amigos! 👋
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