Are You Setting Prices Correctly?

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A common question from beginning freelancers or service business owners is "How much should I charge?" This presentation walks you through the 8 steps to establish your freelance rates.

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Are You Setting Prices Correctly?

  1. 1. WAHBOOMERS.COM Presents ARE YOU SETTING PRICES CORRECTLY?
  2. 2. #1: Decide if You’re a Commodity or Value Service • Price = Commodity • Value = Branding
  3. 3. #2: Check Market Rates • eLance, oDesk, Craigslist • Median • Maximum
  4. 4. #3: Evaluate Supply & Demand • Specialty • Less is More
  5. 5. #4: Determine Your Hourly Goals •$$ annually •Hours annually •Divide $$ by hours
  6. 6. #5: Determine Billable Hours • What’s on your to do list? • How long will it take? Assume 50% • Hourly goal X 2
  7. 7. #6: Factor in costs • How much do you need to spend?
  8. 8. #7: Choose a Pricing Model • Piece • Hour • Project
  9. 9. #8: Start Low • Median, 10% or 20% below • Portfolio • Feedback • 80% capacity? Raise rates
  10. 10. Summary • Commodity or Brand • Research • Market prices • Supply & demand • Pricing model • Costs + hourly rate/billable rate • Start low
  11. 11. What’s Next? • Go to www.WAHBoomers.com • While you’re there, join as a free member • And download your Special Report

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