Here’s a hard question: How to Calculate your Freelance Rate?
This is a serious consideration if you’re thinking of quitting your job in pursuit of leading a more fulfilling, self-employed career. For a more stress-free way of testing your way into entrepreneurship, I’d recommend starting your freelance career while you’re still working.
Often, in the interest of netting new clients and seeming like a more attractive hire, freelancers will charge as little as possible, hoping to make up for your low freelance rate by sheer volume. This kind of pricing, is extremely risky, because it doesn’t take into account the ebb and flow of work, nor does it allow you to grow your business by expanding markets or investing in marketing.
Depending on what stage of your freelance practice you are in, you can treat your profile hourly freelance rate into two different ways – as your minimum hourly rate or as your desired hourly rate.
Ideally, your profile Freelance rate should be the minimum hourly rate you charge. And the keyword here is “ideally”.
However, if you are just starting, it may be a good idea to set your price as high as you’d like but still bid on lower paying jobs to get your foot in the door. But remember, I am not talking about underbidding the competition and getting paid pennies for highly qualified work. No. I am talking about “glory work” projects
Here is a Infographic to find how to Calculate your Freelance Rate
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