When you’re a new freelancer, one of the most challenging decisions is setting your rates, whether you charge clients per hour or per project. But how does that work, and how will you do that? Let’s look at these options below and check if it helps you with your problem.
Two Ways to Charge your Clients
Charging per hour
Charging per hour means you will have a fixed, regular wage for the hours your client requires you to perform. The beauty of charging per hour is that it can help you develop your pricing strategy once you’re already an intermediate and freelancing expert. 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 will get paid less when you charge per hour. The disadvantage is that 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 keep the client happy because you’re providing excellent value.
Clients hire freelancers because they always think they can accomplish the task in less time to complete than they can achieve. So, give them a total price for the entire project (incorporating time spent on the task plus all the extras like email, phone correspondence, etc.). You will deliver the accomplished job the way you and your client stipulated.
One good side is that timeframe will not be a requirement because only you know how long the project will take you to finish. 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 don’t know how to charge clients, consulting experts is one of the best options. But, if you 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 and have skills. Additionally, you are trained to fulfill tasks as a freelancer. Position yourself well, and the client will realize your worth; don’t settle for less to get hired. But, you can grab projects offering lower costs to have experience with the tasks. Just make sure that the project is worth the effort.
Are you an aspiring freelancer who needs guidance to get started? Learn freelancing with Surge Freelancing (Virtual Assistance) Course. Click this link to learn more.