Dr. Freelance: Like you, I prefer to give prospective clients a range estimate. But once they accept it, what number do I use to determine the amount for freelance project deposits? I’ve heard anywhere from 30-50%—I’m feeling comfortable with 35%, personally—but 35% of what? The low end? The mean? Probably *not* the high end.—Rachel [Read more…]
Value-based pricing: How can it boost your freelance business?
Valuing your services on the basis of your skills, knowledge, and experience—as opposed to hourly rates for a task—gives your freelance business a lot more income potential than blindly following rate sheets. It’s not a calculation you can make in isolation, however. A value-based pricing approach requires looking at the situation from the client’s perspective: What can they expect from their investment if they hire you? [Read more…]
Thoughts on the Mode Media bankruptcy
It’s a strange feeling to have a blog post go viral and wish it hadn’t. That was my experience on Friday, when I checked Google Analytics and saw a huge surge in traffic to my post about what to do when a freelance client files for bankruptcy. I subsequently went to Twitter, and found the cause: the Mode Media bankruptcy announcement on September 15. [Note: I am using “bankruptcy” loosely not legally here, as in “they’ve shut down and aren’t paying their creditors.” The company hasn’t yet filed for legal protection, but that would seem a likely path forward according to this article.] [Read more…]
Upwork raised its fees, and here’s what you can learn from it
If you’re looking for a slam on bidding sites or outsourcing services, you’re not going to find it here. No, this is about the news that Upwork raised the fees it charges freelancers from 10% to 20% on projects of $500 or less and created a sliding fee scale based on freelancers’ lifetime billings. (The fees drop to 10% on projects of $500.01-$10,000, and 5% above that.) My interaction with Upwork, formerly Elance-oDesk, is limited to a strange experience with hiring a freelancer whose freelance rates were so low they made me question her talent. [Read more…]
Keeping your freelance rate on the QT with references
Dr. Freelance, a potential new corporate client has asked to speak to a couple of my existing clients as references. Is it fair and appropriate to ask those clients to keep the freelance rate I charge them confidential, since it’s lower than what I’ve quoted this potential client? I have different rates for different types of clients, but the new client may not appreciate the distinction. Any advice on approach—what to do/say or what not to do/say—would be greatly appreciated. Thanks!—Keeping It on the QT
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When a freelance client files bankruptcy
I started to get suspicious when a reliable freelance client still hadn’t paid their invoice after 60 days and several follow-ups. My left eye started to twitch when I discovered both of my main contacts had been let go. Yesterday, after several voicemails and emails of second and third notices, I got my answer: They’re filing for bankruptcy. It wasn’t a huge invoice, a couple hundred dollars, but it was a reminder from the universe that there’s no such thing as risk-free freelancing. [Read more…]
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