Comments on: The Price Is Right http://freelanceswitch.com/money/the-price-is-right/ Freelance Advice and Freelance Jobs - FreelanceSwitch Wed, 03 Dec 2008 06:03:53 +0000 http://wordpress.org/?v=2.5 By: Cornelia http://freelanceswitch.com/money/the-price-is-right/#comment-8256 Cornelia Wed, 19 Sep 2007 17:17:24 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-8256 It is just amazing how helpful a site like this is! I did the rates calculator and Voilla! Thank you so much, I'll keep in touch. It is just amazing how helpful a site like this is! I did the rates calculator and Voilla! Thank you so much, I’ll keep in touch.

]]> By: Kim http://freelanceswitch.com/money/the-price-is-right/#comment-1223 Kim Thu, 03 May 2007 21:38:10 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-1223 I'm about to give an estimate for my first freelancing project and every site I come across gives the Freelance Rate Calculator and tells you to add up your expenses, blah blah blah. I just want to know how much to charge, or what is normal, for one single project. I have a full-time job and am doing this project on the side and have no idea what to charge. It's a 64 page media guide. They need this done in 6 days so it's not like I have that many hours to spend... and I'd like to just give them one single price point for the whole project. But how do I know how much something like this should cost??? I’m about to give an estimate for my first freelancing project and every site I come across gives the Freelance Rate Calculator and tells you to add up your expenses, blah blah blah. I just want to know how much to charge, or what is normal, for one single project. I have a full-time job and am doing this project on the side and have no idea what to charge. It’s a 64 page media guide. They need this done in 6 days so it’s not like I have that many hours to spend… and I’d like to just give them one single price point for the whole project. But how do I know how much something like this should cost???

]]> By: Wes Riojas http://freelanceswitch.com/money/the-price-is-right/#comment-1216 Wes Riojas Thu, 03 May 2007 20:11:16 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-1216 This formula is good. Should we not consider the amount of taxes one incurs per project? Since taxes are a significant percentage, should taxes be added to the equation? This formula is good. Should we not consider the amount of taxes one incurs per project? Since taxes are a significant percentage, should taxes be added to the equation?

]]> By: Bootstrapping Blog http://freelanceswitch.com/money/the-price-is-right/#comment-1057 Bootstrapping Blog Sun, 29 Apr 2007 15:48:34 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-1057 This article is great. I put this into action on some past jobs I had tracked with slimtimer and seen that I was charging just a LITTLE bit low for what amount of time I was spending on the jobs, on most jobs, then some jobs, I was charging a little MORE. So, I guess it evens out. But yes, this article is great. This article is great. I put this into action on some past jobs I had tracked with slimtimer and seen that I was charging just a LITTLE bit low for what amount of time I was spending on the jobs, on most jobs, then some jobs, I was charging a little MORE. So, I guess it evens out. But yes, this article is great.

]]> By: Jermayn Parker http://freelanceswitch.com/money/the-price-is-right/#comment-1011 Jermayn Parker Fri, 27 Apr 2007 04:13:36 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-1011 Mmm I always find it interesting to see how people charge for their jobs, on my website I have listed how I charge normally. I will however study this and see which is more practicable for me.... Thanks http://germworks.net/blog/2007/03/21/different-ways-of-charging-clients Mmm I always find it interesting to see how people charge for their jobs, on my website I have listed how I charge normally. I will however study this and see which is more practicable for me…. Thanks

http://germworks.net/blog/2007/03/21/different-ways-of-charging-clients

]]> By: Vince http://freelanceswitch.com/money/the-price-is-right/#comment-987 Vince Thu, 26 Apr 2007 12:28:16 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-987 The baseline cost is key. But to truly remain independent, you need to factor in the time to do business. I advise new "freelancers" (I would rather call them entrepreneurs) to take the baseline cost of surviving (rent, food, diapers, IRA contributions, health ins, disability ins, kids' college savings, mortgage, etc) and then expect to work only 13-15 hours a week on it. The rest of the week will be working on your business - bookkeeping, finding help, meetings, promoting your company, working on your own website - these are things that don't deliver a check but are absolutely necessary. Somewhere I read a 1/3 Work, 1/3 Business, 1/3 Promotion as a guide for distributing your time. So I generally tell people to cover their baseline with about 13-15 hours a week. Every hour over that is profit. Just be sure to start each client with the right rate to cover your base. The baseline cost is key. But to truly remain independent, you need to factor in the time to do business. I advise new “freelancers” (I would rather call them entrepreneurs) to take the baseline cost of surviving (rent, food, diapers, IRA contributions, health ins, disability ins, kids’ college savings, mortgage, etc) and then expect to work only 13-15 hours a week on it. The rest of the week will be working on your business - bookkeeping, finding help, meetings, promoting your company, working on your own website - these are things that don’t deliver a check but are absolutely necessary.

Somewhere I read a 1/3 Work, 1/3 Business, 1/3 Promotion as a guide for distributing your time. So I generally tell people to cover their baseline with about 13-15 hours a week. Every hour over that is profit. Just be sure to start each client with the right rate to cover your base.

]]> By: Danny Foo http://freelanceswitch.com/money/the-price-is-right/#comment-976 Danny Foo Thu, 26 Apr 2007 03:02:18 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-976 Don't make much of a difference here in Malaysia since 80% of the market is out for the best buy. Yes, we're like one big hypermarket in this industry. So many players - so many low prices. Not to mention, clients who pay you to have it their way instead of hiring you as the 'designer' per say. Maybe the next good article could be about how could you turn the client's head around and listen to you for a change. :) Cheers. Don’t make much of a difference here in Malaysia since 80% of the market is out for the best buy. Yes, we’re like one big hypermarket in this industry. So many players - so many low prices.

Not to mention, clients who pay you to have it their way instead of hiring you as the ‘designer’ per say.

Maybe the next good article could be about how could you turn the client’s head around and listen to you for a change. :)

Cheers.

]]> By: Hugh Watkins http://freelanceswitch.com/money/the-price-is-right/#comment-974 Hugh Watkins Thu, 26 Apr 2007 01:44:34 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-974 Another great article, but I'm surprised you didn't show basing some of the calculations on what the going Market Rates are. In you calculations if the market rate was $55 an hour then charging $45 would be foolish. Another great article, but I’m surprised you didn’t show basing some of the calculations on what the going Market Rates are. In you calculations if the market rate was $55 an hour then charging $45 would be foolish.

]]> By: Collin http://freelanceswitch.com/money/the-price-is-right/#comment-973 Collin Thu, 26 Apr 2007 01:32:00 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-973 Ana: sounds like 2-4 hours of work would really just be a template design....not cool =) Steven: well said! My girlfriend hates it when I ditch her for work but then again, she knows I'll probably spend some of that on her so it's all good. Hourly rates certainly work in small project/job situations but I'd still say give yourself overhead with your initial budget and you'll be certain not to lose out - this of course shall be something you can accomadate for once you've received enough work and experience doing it. Ana: sounds like 2-4 hours of work would really just be a template design….not cool =)

Steven: well said! My girlfriend hates it when I ditch her for work but then again, she knows I’ll probably spend some of that on her so it’s all good.

Hourly rates certainly work in small project/job situations but I’d still say give yourself overhead with your initial budget and you’ll be certain not to lose out - this of course shall be something you can accomadate for once you’ve received enough work and experience doing it.

]]> By: Steve Dangerfield http://freelanceswitch.com/money/the-price-is-right/#comment-972 Steve Dangerfield Thu, 26 Apr 2007 01:06:31 +0000 http://freelanceswitch.com/money/the-price-is-right/#comment-972 Another factor is how busy I am. If I am sitting there doing nothing I would rather be doing a job UNDER baseline and at least keeping busy, so I would take a lower paying job. On the flip side if I am against the wall and super busy I tend to quote very high and lose the job or if I get it it is a good rate and justifies not seeing my girlfriend for a week. I prefer that to telling someone flat no because I am too busy, but then that might just be me. Another factor is how busy I am. If I am sitting there doing nothing I would rather be doing a job UNDER baseline and at least keeping busy, so I would take a lower paying job. On the flip side if I am against the wall and super busy I tend to quote very high and lose the job or if I get it it is a good rate and justifies not seeing my girlfriend for a week. I prefer that to telling someone flat no because I am too busy, but then that might just be me.

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