MiddleMe
One of the most complex problems a freelancer has to figure out before offering their services to the public is how much they will charge people. As freelancers, we want to be paid a realistic fee, but it must be a price that won’t be too low or too high. If we price wrong, we may lose potential clients in the process.
But is there more to this problem? Here are several reasons why it is hard to set freelance rates, a struggle that many of us in the freelance community can relate to:
We Love The Work We Do
When we love to do a task or an activity we are passionate about; we don’t think about pricing the result of our work. We often give our work for free or ignore any payment offers. We usually feel guilty about it if we put a price on it.
The Price Range Is Varied
Another reason freelancers find it hard to set their own rates is that there is a varied price range for any given service. For example, if you are offering a writing service for essays and articles, you will see freelancers charging per 100 words and those charging for a certain number of essays. Because of this fact, it is hard to find a good point of reference for other freelancers to use, and they end up getting paid less.
There’s No Guide To Doing Rates
Finally, there is no clear guide available to help freelancers establish themselves in their craft and identify the best rates for their services. Most courses do not have classes focused on helping students establish a business or become freelancers. Freelancers and business owners have to rely on experience to learn what is best.
Given these problems, is there a way to overcome the issue and be able to freelance without worries? Down below are some tips you can consider to help you with your freelance worries:
- Always see the project as an earnest request to price it correctly.
Even if you like the work you will do, don’t look at it as a way to pass the time or do something you enjoy. Remember, you are trying to create a career out of your skills as a freelancer. Value your work and your time, and others will too.
- Be honest with your client when it comes to price increases and speak to them directly. Remember, open communication is key in any business relationship, and your clients will appreciate your transparency.
As a freelancer, you will also feel the weight of growing costs. Your current rates may no longer be enough to get you by, and it will require you to decide to increase your rates. But before you do, don’t hesitate to speak to your clients about it. Clients want to work with freelancers who give them quality work and inform them truthfully about their services. If you let them know why you are increasing your prices, they will be okay with paying extra. If you do not tell them why you are increasing your prices and shock them when you send the invoice, they will argue against it and, quite possibly, not pay you.
- Don’t be afraid to agree to a high pay if the client believes your service is worth the fee
Some clients who love your services may offer higher pay when they request your services. As a freelancer, it may be hard to accept this offer. However, if the clients provide a higher fee, it shows that they trust the quality of your work, and it is their way of showing their appreciation. So, when they offer it, don’t be afraid to thank them and do your best to deliver.
- Check the budget of the client before you offer a rate
You should definitely ask your client about their budget for the project they are requesting to get an idea of how you can rate your services. If you think you can work around their budget without affecting your own finances, go for it!
No matter your reason for choosing to be a freelancer, it will be a challenging time for you to determine the best rates for your services. But, if you take the first step to overcome this issue and speak to your clients, you will slowly be able to determine the right rates for your work.
To taste success in freelancing like I did, check out what I have to offer in my guide to your freelancing journey!
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Kally
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