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. 👇
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.
Harmony, Social Media Manager
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.
Josh, Brand Designer
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.
Morgan, Freelance Accountant
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.
Nicole, Designer & Copywriter
I asked everyone else what they did and basically got the advice to choose an hourly rate, then estimate how long something is going to take you and maybe add on a little for messaging back and forth. However, I still don't have set rates and my prices are always changing based on the client.
Justyn, Web Developer
It took me a while to realize that I had to realistically estimate how long something would take me to do, then apply a suitable hourly rate (e.g. at least the National Minimum Wage) in order to work out my quote.
At first, I was picking numbers out of thin air that didn't sound too high for the client to be put off. Then I started logging my hours for projects and working out how long different aspects actually took me, therefore what I should charge. I later accounted for things like the use of video equipment and editing software, as I started buying more expensive gear.
Amber, Filmmaker and Videographer
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.
Francesca, Customer Support Rep
I started with a price that felt like a stretch but that I could also share with confidence. I asked myself, “What is the amount that feels good and allows me to show up 100% for my clients without feeling the least bit resentful?”
You can also ask yourself, “What is the lowest I’d be willing to go?” and “What is a number I’d love to charge someday but it feels way too scary for right now?” Then you can choose a number somewhere in the middle!
Britny, Life Coach
I first priced my services low as a way to attract clients. This was one of the most difficult things I had to do. It was tough because my biggest fears were failure, judgment, rejection and not knowing enough in regards to pricing. However, I managed to pull through, convince my clients I was worth it, and get to a point where I could confidently raise my price list on a yearly basis without having to worry about losing clients.
Floridah, Social Media Assistant
I don't really have a set price. Quotes are given based on the information the person gives when they email me. Generally speaking, my prices start at $30 for proofreading an assignment of 1,000 words.
Madolline, Editor and Writer
I started my pricing super low in the beginning, because I just wanted to get some portfolio pieces and reviews under my belt. I knew I was pricing low, but I also knew that I had to start somewhere.
I basically priced myself like an intern: I was there to dip my toes, to learn, to understand, and to test. Keep in mind that it's a big risk for someone to hire you online if you have no references, no past clients, no previous work to show for.
A low rate is also less pressure on you, because clients *tend* to understand that if they're hiring a low-priced, inexperienced person - they have to teach more and leave a little room for error. Once I gained more confidence, I started increasing my rates steadily.
Deya, Project Manager
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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