Freelancing – how much should I charge?
It’s a common problem for us as Freelancers – at least when we first start out. How much should I charge?
And sorry to break it to you ladies, but this is largely a girly problem. Time and again, when comparisons are made, we tend to undercharge or give away too much of our time compared to our male counterparts. (Perhaps it’s the Venutian in us. We favour nurturing and caring over the more practical, tinkering of our Martian mates).
If you have ever struggled with charging your true worth, you’ll know how debilitating it can be in business. It is purportedly one of the main reasons why female owned businesses struggle (I emphasise one of the reasons, not THE reason). It could be the death of your business if you don’t get a handle on it.
So, are you new to Freelancing? If you are, how much should you charge?
Here are two very simple tips which can be applied to any sector of the Freelance market that you work in:
1. Be results orientated.
It is so important to be results orientated. Your clients are not interested in the job that you are doing, but what you are achieving. Essentially:
- What’s in it for them and
- What problem are you solving for them.
So, if you feel nervous about charging your true worth, create a long list of the results your clients get when they use your services.
Example: You’re not simply a copywriter. You produce exciting copy that leaps off the page. Or you produce winning copy that converts to sales. Or even better still, “By using my copywritng services, my clients doubled their response rates.”
Exanple: You’re not just a Virtual Assistant. What problem are you solving? You’re saving clients’ time. Now try quantifying it. How much time? How much time each week? How long have you been saving them that amount of time each week?
Which statement do you think sounds more powerful? “By using my services, 20 clients saved on average 100 hours each month” or “I’m a Virtual Assistant with 20 clients on my books”?
2. Research, compare and add a bit more.
If you are new to the freelancing market, you may feel more comfortable charging roughly the same as others in your market or geographical area (and there really is no hard and fast rule about that). But it is absolutely imperative that as you gain more experience, your rates move and grow with you.
Just think, what message are you giving by always charging the same? Indeed, by charging the same as everyone else, aren’t you simply saying that you are the same as everyone else? Think niche.
Check what your competitors are charging. Now go back to your list and determine what your niche is (and by the way, the value you are giving your clients + your unique take on it = your niche), then charge a bit more. You’re worth it!
While you may be wary of inflating your worth, by charging more, you are making the statement that you are worth more. People really do respect and value something when they have invested more in it.
Mary
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