Pricing

Your
Work Pricingnce
Bala
TOO HIGH
TOO LOW RISK OF LO
SIN G CLIENT
YOU
ABLE FOR
UNPROFIT

JUST RIGHT

How do you price your work as
a freelancer? We have a lot to
discuss and this section will
review several different ways
As you start to price more and more projects you
will develop your own pricing model. Some
freelancers can think of the perfect quote right
after hearing the project brief, while some struggle
because of the complexity of it all. Let’s review
several different ways you can price so you can

you can price your projects. start to find out which pricing model or combination
or pricing models may work best for you.

I hope this section will make you feel more confident
in not only pricing your work but also helping you
maximize your profits by helping you find the highest
price possible without the risk of losing a client
because you priced too high.
That is the biggest constrain on pricing I think scares
most freelancers. The balance between charging a
reasonable profitable rate for yourself but also not
being so high it turns the clients toward other more
affordable options.
Once you have a pricing system in place, you will be
able to easily find that “just right” middle pricing
point.
Once you have a pricing system in place, you will be
able to easily find that “just right” middle pricing
point.
As you start to price more and more projects you
will develop your own pricing model. Some
freelancers can think of the perfect quote right
after hearing the project brief, while some struggle
because of the complexity of it all. Let’s review
several different ways you can price so you can
start to find out which pricing model or combination
or pricing models may work best for you.
 MAKE MORE MONEY
FIXED RATE PRICING
The benefits for fixed rate pricing:
You have total control over how much you
will receive for a given project
You can make more money if you move
through your work quickly
The client has more certainty about total
project costs before committing
The downsides for fixed rate pricing:
If a project takes longer than anticipated, you
take the hit as you cannot go back and
increase your fixed quote unless it is built into
the contract (which we will talk about later)
It is not as easy to price fixed rates when you
have not quoted for that project type before
HAVING MORE STABILITY
HOURLY PRICING
The benefits for hourly pricing:
Hourly is an easier way to price for those freelancers
who have yet to know how many hours it takes to
complete each project as you can include wide
ranges in hours for each line item.
You are guaranteed to know how much you will
make per hour you work, easier to manage your
income and cash flow.
Clients have more clarity of how much you make per
hour, which could make them feel at ease.
When project scopes get larger it is easier to adjust
pricing for the additional new work items.
The downsides for hourly pricing:
This is a big downside. If you complete the project in
less hours than expected, you will make less overall
on the project. In some ways, you are being punished
for being quick and effective, not a great motivator to
move fast and do well.
Clients may feel your quote is more speculative and
could be a higher project costs if the project goes
longer than anticipated.
 Developing
Your
Pricing figuring out
HOURLY RATE total annual 2 hourly 4
work weeks rate
monthy 1
income goal
WORKABLE WEEKS
52
Annual workable weeks
WEEKS

$3,484 ANNUAL
-
SALARY
VACATION WEEKS + SICK DAYS
SALARY GOAL
-3
Annual desired vacation weeks
WEEKS
+ HEALTHCARE $1,000 $55,000
TOTAL WEEKS= 49 WEEKS
+ RETIREMENT $500
_
+ EXTRA $0
total work hours 3
TOTAL
- AVERAGE TAXES $-400 PER WEEK
Desired weekly work hours WORKABLE
= TOTAL (MONTHLY) 35 HOURS HOURS
(ANNUALLY)
$4,584
X
TOTAL
WORKABLE 1715
WEEKS 49 WEEKS

x 12 months
TOTAL WORKABLE
=
ANNUAL SALARY GOAL HOURS (ANNUALLY)
HOURLY RATE
= $55,000 = 1715 HOURS $32 PER HOUR
Pricing
WORKSHEET FIRST FEW PROJECTS
4-5+ YEARS WORK HISTORY 2+ YEARS WORK HISTORY
PRIOR PAID WORK HISTORY
LARGER CLIENT WORK
LESS PRICING POWER AGENCY OR REGIONAL WORK WIDE VARIETY OF PROJECT WORK

BEGINNER INTERMEDIATE ADVANCED

Experience
1 Level
FILL IN HOURLY OR
FIXED PRICES
BASED ON RESEARCH
OR PAST QUOTES LOWER HIGHER

2 Client size TIER 1 TIER 2 TIER 3

CIRCLE ONE
LOWER PRICING POWER
Non-Profits
Small Start-ups
Small Local Business
Less than 10 employees
HIGHER PRICING POWER
10-100+ Employees Ad Agencies
Visible in the Community 100+ Employees
Looking for More Growth National Marketing
Has Invested in Marketing Large scale projects

Project
3 Exposure
HIGHER EXPOSURE = HIGHER PRICING POWER
HIGH
LOW
0
EXAMPLES:
VIDEO EDITOR = VIEWS
SOCIAL MEDIA MARKETER = LIKES/SHARES
WRITER = BOOK SALES + E-BOOK DOWNLOADS

4 Final Price
WRITE DOWN WHERE
YOUR FINAL QUOTE FALLS LOWER HIGHER
ON THE SCALE
 Pricing Your Services WORKSHEET
SERVICE ONE SERVICE TWO SERVICE THREE
DESCRIBE YOUR SERVICE DESCRIBE YOUR SERVICE DESCRIBE YOUR SERVICE

Price Price Price

LIST YOUR DESIRED SERVICE PRICE LIST YOUR DESIRED SERVICE PRICE LIST YOUR DESIRED SERVICE PRICE

LOW LOW LOW

MID MID MID

HIGH HIGH HIGH

SERVICE FOUR SERVICE FIVE SERVICE SIX

DESCRIBE YOUR SERVICE DESCRIBE YOUR SERVICE DESCRIBE YOUR SERVICE

Price Price Price

LIST YOUR DESIRED SERVICE PRICE LIST YOUR DESIRED SERVICE PRICE LIST YOUR DESIRED SERVICE PRICE

LOW LOW LOW

MID MID MID

HIGH HIGH HIGH