Double Your Freelancing Rate NOW!
Many freelancers ask me “how do you double your freelancing rate?”
That’s an easy question to answer but before I answer I have to say in full disclosure that it’s an odd question. The question doesn’t ask “is my freelancing rate accurate?”, “Am I charging too much now?”, “Am I charging too little now?”. Assuming that your current rate is accurate and you want to double your freelancing rate now, only then will the below advice work.
First, in order to charge more you need to provide more value, so make a list of things you can do BEFORE you charge a client that will show your value.
- For example. I have a designer that sends watermarked samples over before charging a prospect.
- I know a UX guy who does website reviews for prospects.
- I do a great discovery call where I show them I am an expert at strategy.
The more valuable you are before they higher you, the more you can charge.
Second, don’t bill hourly, bill per project. If you have done a similar project in the past for a client and this new prospect wants virtually the same thing done, you can use your existing work as a base. For example, content strategy is very similar from client to client. I created one complete content strategy for a client many years ago and now each time I have to create a new one, I just that first strategy as a “base”. it’s 80% the same, but it’s unique to the client. So in cases like these, bill per project. This way you are able to charge as if you made it from scratch, the clients get the value of a perfectly fleshed out and fresh project and you get to reap the rewards of spending less time on the project than you thought. So a project that would have taken 10 hours, now takes 3, but you’re billing for 10.
Third, go outside your comfort zone. You need to try some prospecting you’re not used to. Put this on your calendar and force yourself to do it.
Have a great presence online, yes your prospects will google you.
Maximize sales-The more you can help a client, the more they will pay you. So, identify problems upfront, even before the prospect knows about it. So instead of just saying I can help you write this blog, I can help you format it, code it for HTML, publish and distribute it.
All of the above tips should definitely help you. The most difficult is going outside of your comfort zone. Most freelancers, most people, in fact, don’t like to go outside their comfort zone. Just remember, unless you get lucky, nothing in business comes easy. If it were easy, everyone would be doing it! Do you think most people would spend their day working 8-5 Monday through Friday in a cubicle because they want do? Do you think most people like to ask permission to go on vacation? Hell no! They do it because they like the security blanket of an 8-5 job and steady paycheck. Those are the people who work for people LIKE YOU! The entrepreneurs, the 3% of people who go outside their comfort zone, take risks and are willing to reap the rewards of their creative and risk-taking labor. Look at Elon Musk, when he sold Paypal for a gazillion dollars he reinvested ALL OF IT for his next “idea”.
Now go out there and double your freelancing rate! If you haven’t yet, check out our Masterclass course and start building toward your goals.