The Ultimate Guide On How To Price Yourself As A Freelancer | Sayed Mohammad Sakib Hossain | Skillshare

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The Ultimate Guide On How To Price Yourself As A Freelancer

teacher avatar Sayed Mohammad Sakib Hossain, Enthusiastic Instructor

Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

7 Lessons (28m)
    • 1. Introduction

      5:20
    • 2. Pricing

      3:42
    • 3. Getting Paid As A Freelancer

      3:32
    • 4. Tips On Calculating Your Rates

      7:50
    • 5. Tips On When To Raise Your Freelance Rate

      2:32
    • 6. When To Lower Your Rate Or Work For Free

      2:07
    • 7. Last Word

      2:52
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About This Class

Hi, Welcome to my course The Ultimate Guide On How To Price Yourself As A Freelancer. The only course you need and this course will help you to know the in depth about How To Price Yourself As A Freelancer.. My name is Sayed  and I will be there with you in this adventure.

The aim of the course is to give you an idea On How To Price Yourself As A Freelancer. I strongly suggest that please follow each and every topics and methods that i am going to discuss in the course. I am sure by following each and every methods you will get a good understanding On How you can Price Yourself As A Freelancer in no time..

Questions might occur as you go along. Just know that i am your back, Just ask me questions if you have any. I will be there to answer all of your questions. Please just check in the question thread if the question is answered before. If not, Why not go ahead and ask your question?

It’s the ultimate course you need to go with to learn How To Price Yourself As A Freelancer  .The best part is I constantly update this course with new content.

Thanks for checking this out. Be sure to check the course description for more info. Taking action is the key to success, Let’s dive into the course and i look forward to seeing you inside…

Meet Your Teacher

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Sayed Mohammad Sakib Hossain

Enthusiastic Instructor

Teacher

Mostly known as Sayed in this digital world. Learning and making people learn is always my passion. Throughout these years of my career i have learned a lot and a lot are yet to be learned. I am always open for new opportunities, I have a passion for Technology, teaching, planning, playing with English and am an avid researcher. I am the CEO & Founder of CloudMinds IT.

Specialties:

• Start-ups,

• Entrepreneurship,

• Business Development,

• Operating business,

• Strong communication skills,

• Time management,

• Talent Acquisition,

• Employee Relations,

• Quality Assurance,

• Client relationship management and International Affairs,

• Customer Service ... See full profile

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Transcripts

1. Introduction : Hi. Welcome to my course, the ultimate guide on how to price yourself as a freelancer. The only course you need, and this course will help you to know in depth about how toe price yourself as a freelancer . My name is side, and I will be there with you in this adventure. When you first start out in the world off freelancing, it's difficult to know how much to charge and what your hourly on Barrett's should be. There are no rules books, no obvious solutions. It's a pure guessing game. If you are setting out to do freelance work either part time or as a full time career, you will need to establish your rate. Whether it's hourly, a dairy or per project, it can be a daunting task. If you said the rate Dolo, you will be working yourself into the ground for peanuts. If you said the rate too high and you may not get any business at all, so said you're raid based on your experience and skill level, have a all remembered that you skills are belle level, so it's important you get your rates right before talking toe Any potential clients. So if you are ready to jump into the freelance pole or you're already dear and want at Bice on the rate you should proceed with the scores to know more. The aim off the course is to give you an idea on how to price yourself as a freelancer. I strongly suggest that please follow each and every topics and methods that I am going to discuss. In this course. I am sure by following each and every matters, you will get a good understanding on how you can price yourself as a freelancer in nor time . The question you might have in mind is why I designed the course. I designed the course for those of students who are planning to a start their carrier as a freelancer but don't know how to price their services. By following the scores, you will get a good understanding on how you can price your service as a freelancer. Anyone can take the scores to know more about pricing the services as a freelancer. Well, why me? As an instructor, why I plan to take you through this journey? Well, I have bean in this freelancing business for around five years and gained used experiences and created a lot off online ventures that I can proud off. I was thinking that people also wanted to start their career as a freelancer but don't know how to price their services. Don't worry at all. I will show you all the ins and outs on how to price yourself as a freelancer in these scores. Questions might Auker. As you go along, just know that I am your back. Just ask me questions. If you have any, I will be there to answer all your questions. Please. Just Jack in the question threat. If the question is answered before, if not, why not? Go ahead and ask your questions. It is the ultimate course. Yes, it is the whole team, mate. Course you need to go to learn how to price yourself as a freelancer. The best part is I constantly update this course with you content. It is my sincere for bed. You will get a lot out from this course. Please take action as you proceed with the course. So again, do not broke. Astin A. Thanks for checking this out. Be sure to check the course description for more information. Taking action is the key to success. Let's dive into the course, and I look forward to seeing you inside 2. Pricing : allow their welcome to our new lecture. Let's discuss about pricing billing with an hourly rate. Well, how should I bill my clients? Hourly, Daily, weekly monthly, part requirement or per project? There seemed to be a limitless number off west to charge your clients. Let's discuss the pros and comes off each. Let's discuss ever the cross for billing with an hourly raid. Clients who have hired freelancers in the past expect to pay by the hour you get to judge whenever you are on the phone in a meeting are tapping on your keyboard or mouse. You can take desk off our work half days now. Let's discuss about the cons for billing. With an hourly rate, you are penalized for your experience. If you are two X faster than a more junior person, you are building half the time they are for sizeable projects. It becomes very tricky to a greatly guess, a realistic early estimate. You need to be vigilant in how you track time. Now let's discuss about building with our project rate. This is the most productive option. A very level billing by the project can allow you to make a ridiculous return off investment on your time, but it can also really hurt you if you work with a client who looks at your engagement all the time. Now let's discuss the cross for billing. With our project raid, you charge for the bell you you produce. Your client will know exactly how much a project will cost, thus mitigating the risk off budget over floor. With time based billing, this might be enough to win over a reluctant client. The faster it gets done, the higher your effective hourly rate. Now let's discuss the cons for billing with per project rate. It can require you to map out every single aspect off the project before you get started. Otherwise, you might assume something is simple and priced accordingly, and then realise in the middle of the project that it's more complicated and you should charge more. It's often beneficial for your clients to be able to change scope. Each additional hour you spend on a feast price project for the reduces your hourly rate 3. Getting Paid As A Freelancer: Hello, dear. Welcome to our new lecture. Getting paid as a freelancer. Always get a deposit before a starting work on any project. Get a deposit payment especially high and working with a new client. It's really important to said the role in mind that if you are not paid, you don't work. I see many freelancers, especially does new to the profession who don't do these. Every professional services company requires some sort of down payment as a way to ensure that someone is serious and ableto pay. If you are building for time, I like invoicing for 1 to 2 weeks off. Work off front. You treat this income as a credit, and when you produce invoices in the future, you deduct the total do from discredit. Most invoicing tools support the idea off client credits. I typically require deposit Why, in a contract is signed, I let my clients know that I can on Leah schedule their project if the paid a deposit. Be careful, though. This money is a liability, and you probably shouldn't treat these deposits as an actual income. Get it in writing. Always use a contract. I am shocked and surprised by how many people I talk to don't have a legal binding contracts between them and their clients. You want to make sure your contract includes provision for what happens if you don't get paid on time. If you are working with a client who isn't exactly fiscally stable, I would strongly advise you to have your clients personally guarantee your agreement with them. Recruit and assistant If you are not charging up front and a client is late on paying, the best thing you can do is be serious. Let them know that you need to stop work and that it will only resume once you are paid. This is also a great time to mandate a pair up front policy. You can hire an assistant where he or seek and call clients who were do you in the payment and asked them to bear the due amount. The assistant can let the client know if the due amount it's not paid any further work will be stopped. The Pref erred, but is to avoid this altogether by always getting paid upfront 4. Tips On Calculating Your Rates: Hello there. Welcome to our new lecture. Keeps on calculating your rates. Do some research. A great first step is to do some research to see what other freelancers are charging for similar work in your area. If you have got more established freelance friends, ask them what their hourly rates are. Compare and come up with. The rate you feel reflects your skills and experience, but makes your your competitive. No, your survey straight. It's or bearing in mind that agencies charge anything between $500 to $900 per day. As a freelancer, you won't be able to charge anything near this amount unless you're skills are very niche and in demand. So do your research and come up with a suitable figure that reflects your soul status. Calculate your overheads when considering how much to charge it's or taking into account off all off your business costs. It may be the rent for your office insurance, travel, a stationary or materials. You have got to cover your costs, so make sure your hourly rate is reasonable as well as realistic. Consider lost time. You can't expect to charge 40 billable hours each week. Particulate early as there will always be lost time taking care off other things like administration, invoicing and other day to their tasks. Make sure you account for all those non billable hours When coming up with your rates. Consider how much you want toe ARN. Another way to figure out your rates is toe. Ask yourself how much you'd like your annual salary to be taking into account your weekly bi level hours and the amount off holidays you want to take. Be flexible when you start talking to clients. You will soon realise that part day or per hour rate on suit everyone, but it's wise to charge high at first and be prepared to knock down on price. Therefore, no. Your ultimate minimum hourly rate go no lower because you have to remember that you have got overheads and business costs to cover. Plus, you don't want toe under velu yourself. Remember, clients can always push you down on price. When talking about rates with clients, you have to learn to be comfortable open and up front about how much you charge and why. Don't be afraid to negotiate and help confidence in yourself, your abilities and how much you are short budgets. When meeting a potential client for the first time, try and establish their budget before you reveal your own rates. That way, you can adopt your price accordingly or decide whether you are the right person for the job . If the client is expecting to pay a ridiculously low price for your time, it's a pretty good warning sign that you should run fast in the opposite direction. You are running a business, not a charity. Choose your pricing strategy when costing up jobs for clients, you have two main A strategise to consider time or project based. Time is high and you log your hours and then in boys the clients accordingly. Project is high, and you calculate how long you think a piece off work will take on. Provide a fixed price up front. Choose the strategy to suit each job. If in doubt, over any project explained to the client that you charge an hourly rate based on the time it takes to complete the project, rather than guessing how long it will take initially and providing a fixed up front fee, this is especially important for larger jobs considered the unknowns. One costing up jobs, you have to consider your productivity and how much you will realistically achieve in a set amount off time each always best to add on an extraordinary or two off your time as a contingency. That way, you won't lost any money on the job. Don't put yourself in a situation where you have not budgeted and off hours you will lose money, and that's not where you want to be. Every project is different. Don't get too or it about having a set hourly or day rate. It will ultimately berry from one project or client to another. Just a stay error off your competition and the economic climate, as well as a breeding I have laid out in the scores. And you can't go wrong. Create a rate start with your rates likely to differ from one client to the next Creator spreadsheet To keep track off what you're charging, refer to this at the end off each financial year so you can assess whether it's time to consider price increase 5. Tips On When To Raise Your Freelance Rate: Hello, dear. Welcome to our new lecture tips on when to raise your freelance rate. If you are at capacity, raise your rate. Your time has become limited. So in order for a client to work with you, they have to meet the higher rate. If you keep raising your rate when you are at capacity, you will eventually a skill up your rate across all your clients and projects and finally upping your total freelance income in this process. If the client has a short deadline, raise your rate. This is known as a rush job and demands a premium in top off your normal rate. You have to drop what you are doing for other clients, or prioritize your work some time, working evenings and weekends to deliver the job. The client should pay the price for these. If you learn new skill, raise your rate. You should always raise your rates as you get better. Learning a new skill means you can also expand your offering as a freelancer, and clients don't have to hire two separate freelancers to get the same job done. If you have freelanced for another year longer, raise your rate. The experience gained over that year is or more than you might think, and you can charge accordingly. If you don't like working with a particle er client but need the income from the project, raise your rate and this way declined can pay a premium for your services, which balances out the negative side off working with a client that you are not fond off. 6. When To Lower Your Rate Or Work For Free: Hello, dear. Welcome to our new lecture. When to lure your rate or work for free, you can always raise or lower your rates, depending on the client and project. Here are two good scenarios when it is beneficial to lower your rate or even work for free . The number one is portfolio pieces. If an instantly recognizable brand comes along that might not have ports off cash available but do incredible work and would be a delight to work with if they can't afford your normal rate. But you can take this project on at a lower rate than you should ask to see if you can use this project as a case, a study or example off work for your portfolio. If it is a brand company, you can work at Lori, which might open their door toe many more clients. The number two East Charity work. I do a lot off work with charities and happily work for free or at a reduced rate for them . I often find this kind off work most rewarding, and the clients are more appreciative off your affords. But remember, a lot off charities have large reserves, and resource is so you can charge the full price for your service That will often get your best work out off you. If the pair you full raid. So don't be afraid to charge charities. 7. Last Word: Congratulations. Can you imagine we are at the final part off these scores? Let's discuss some last words. Many freelancers decide to have a combination off hourly and fixed price system, so they're they're compensated fairly and a stay flexible. Everyone has a different opinion about what model is best, what works and what doesn't when setting their pricing a strategy. Some people insist that hourly is the only way to go. Other insist that project based or fixed price is the only way to go. The best way to figure out your own pricing a strategy is to figure out what works for you and go from there. If you are looking for more a stability and predictability, you will want to focus on attracting clients who are comfortable with project based or fixed price payment. For clients. Just starting out with you hourly might be the way to go until trust is established. Hopefully, you get the picture. As you can see, there is no formula or perfect way to calculate pricing. Instead, they are intangible metrics. There is nothing unethical or wrong about charging one client more. If the project scope changes, you can always discuss with your clients try to remember that the client always has the decision to hire you. Just because you present a price doesn't mean that they have to accept it. We pricing the worst that can happen is the client said no. Finally experiment a bead. Try things out and a start charging more. You will be amazed by the results. Finally, I wish you good luck.