Word-of-mouth business is the closest thing we’ve got to perpetual motion in the freelance world. Not only are freelance referrals easier to get to sign on the dotted line—because your business has a third-party endorsement—they’re also far more likely to be easy to work with. With rare exceptions, a good client won’t send you a bad client. First, because a good client wants you to succeed. Second, because their own reputation is on the line. (Obligatory note of caution: Be wary of word-of-mouth business from not-so-hot clients, who have a penchant for passing along their equally challenging pals.) [Read more…]
How do I charge for meetings with a new freelance client?
A reader asks…Dr. Freelance: Yesterday I had an extended (almost 2-hour) meeting with a potential new client. The good news is that they have a project for me, assuming the estimate is acceptable, and they said there would be more in the future. The bad news is that the project is small enough that I can’t possibly recoup the costs for my time, because it would basically double the estimate. I know you believe you should charge for meetings, but how do I do that in this circumstance? I don’t want to price myself out of a freelance job!—Time Is Money (i.e., you can call me “Tim”) [Read more…]
Stop worrying about freelancers who undercharge
“Freelancers who undercharge are ruining the business!” “Freelancers who work for free are undermining my prices!”
Nonsense.
Freelance project deposits aren’t just about the money
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…]
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