One of the hardest things to decide when you’re a newbie in freelancing is how to set your rates, whether you charge clients per hour or project. But, how does that work and how will you do that? It’s difficult, right? Let’s look at these options below and check if it helps you with your problem.
Charging per hour
Charging per hour means you will be having a fixed regular wage for the number of hours your client is requiring you to perform. The beauty of charging per hour is that it can help you in coming up with your pricing strategy once you’re already intermediate and expert in freelancing. Once your experience in freelancing increases, your charge rate per hour will also increase.
On the other hand, if you perform the work quickly and competently, you’re not going to get paid more when you charge per hour. The disadvantage of this is when you become quicker and better as you go along, you’ll not be paid well the better you become.
Charging per project
Charging per project works better on many levels. After all, you can charge more and still keep the client happy because you’re providing great value.
Clients hired a freelancer because they always think that freelancers can accomplish the task in less time to complete than they can accomplish. So, if you give them a total price for the entire project (incorporating time spent on the task plus all the extras like email and phone correspondence etc) then, you will deliver the accomplished job the way you and your client stipulated.
One good side of it is that timeframe will not be a requirement because only you know how long the project will take you to finish it. Remember that you’ll be faster and better the longer you’re a VA so tasks won’t take long to accomplish.
Setting your rates…
Setting your rates depends on your expertise. When you’re new and you don’t know how to charge clients, consulting experts is one of the best options. But, if you really need to give your rate right away, consider the following factors:
- Do you think you’re good at what you do?
- Have you worked hard to gain your skills and experience?
- Do you think your skills are valuable in terms of saving or making people money or giving them more time?
- Are a lot of other VAs offering this service or are you a specialist in this area?
Then, think of your worth and charge.
You are a modern business-minded individual, you have skills and you are trained to fulfill tasks as a freelancer. Position yourself well and the client will realize your worth, don’t settle for less for the sake of getting hired. But, you can grab projects offering lower costs to have experience of the tasks. Just make sure that the project is worth the effort.