How to Price Your Services in a Way You Don't Get Busto

// A THREAD //

Whether you're a full-time freelancer or you just want freelance on the side you have to know your price so you don't get busto.

We will discuss the three most common ways how to price your services:

- Hourly rate
- Project rate
- Service as a product

But basics first.

Don't think about the price as a one-night-stand.

Rather build a very close relationship with it.

It:

- helps you to increase/decrease demand
- gives hints about how good/bad your service is
- positions yourself on the market

Know how to use this tool.

Cheaper ≠ Better

Imagine someone selling you a car for $350.

What would you think about it?

Exactly.

Set the fair price, not the scam inducing one.

The cheap price will bring you a specific sort of people.
- to be polite.

So always compete with quality, not price.

1. Hourly rate

This is the most straightforward way how to set your price.

How to set it?

The basic equation may look like:
[Monthly target profit ($) + All costs ($)] / no. of billable hours in a month

PS. Even if you're starting out don't get much lower under this price.