From Fast Company, Laura Vanderkam offers advice to freelancers on how to charge higher rates from their clients. She provides nine recommendations of which are the first two:
1. KNOW WHAT YOU’RE WORTH
An employee approaching her boss for a raise would be advised to research what other companies were paying. Likewise, as a free agent it’s good to know what other people are charging for similar services. Reach out to people you trust for advice. Also, consider what you’ve done to boost your value to clients. Elisabeth Sharp McKetta is an editor and writing coach based in Boise, Idaho. “I had been charging the same hourly rate for all writing services for years, and throughout those years I had gained experience, publications, and a PhD,” she says. “It was time I revalued my time.”
2. ANALYZE YOUR TIME
If you’re charging by the project, or a monthly retainer, then some clients are already more profitable per hour than others. That’s a good thing to know. Track your work hours to figure out which clients are a dream, and which you’d be okay with shedding. In the accountant’s case, one difficult client was taking 40 hours a week alone. That’s an easy target for hiking rates, or offloading. On the other hand, some clients may already be paying your new desired hourly rate, so nothing needs to change.
Read the full story at 9 Things Freelancers Should Do To Get Higher Rates
