As a freelancer, you are your own company. Businesses must generate enough cash to exist, so you must decide ahead of time whether you can charge enough to rely fully on freelancing right now, or whether you should go part-time for the time being
Knowing your worth in any position you find yourself in is the first step. Here’s how you can determine it for yourself.
Below are six dispelling myths about freelancing.
1. Freelancers should be paid at a rate comparable to full-time employees.
This is a common misconception, they are perplexed that you want $100 per hour for a project while their full-time staff are only paid $50. This is an incomplete analysis of the situation.
Freelancers devote their complete focus to the task at hand, have no company benefits or other such privileges to fall back on, and are conscious of the tough competition that keeps them on their toes at all times.
An ordinary freelancer will go above and beyond the call of duty to do the best work possible, which includes conducting research, learning new skills, being responsive, and looking for new ways to please their customers. This level of effort should be handsomely rewarded.
2. You need to compete with market averages for your service.
This appears to be solid advice until you examine it closely. Average compensation does not always reflect what your talents, abilities, and experiences are worth. Maybe the average price for a one-page responsive website on Fiverr is less than $500, but that doesn’t mean that’s what you should be charging.
Instead, look at the averages of other programmers with similar resume qualities to get a better notion of your worth.
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3. Before you get paid, you should do some free work.
Never accept unpaid job. Even charging a discounted amount for your initial tiny test project is preferable to doing anything for free.
The majority of expert time management advice focuses on valuing your time. And clients that want you to work for free to demonstrate your skills before hiring you will most likely not pay you since they do not comprehend the worth of the time you spent on that “free” test.
4. It is your responsibility to justify your pay rate to each client.
As a freelancer, you set your own prices. You can have an itemized invoice ready for clients if they want you to explain your prices, but you don’t have to explain why you charge a given fee for your work.
5. You can’t negotiate what the client offers you.
If you are not satisfied with what they are offering, always negotiate. You are not required to accept any projects; you have the option to decline them.
If a client refuses to bend on a terrible quote, no matter how much “exposure” or “additional chances” they’re offering, use that freedom.
6. After completing the job, you should expect to get your full payment.
Unless you already have an excellent relationship with a client, you should insist on a deposit before you begin working. Get paid as much as possible upfront so you can protect yourself from folks who wish to steal your code. Keep an eye on the clock!