There are 3 main things which the
webmasters look at before hiring a freelancer:
- Your resume, CV, portfolio,
reputation etc. I.e. everything which can help them appraise your competence as
a freelancer
- Your interest in and understanding
of their specific project
- Your price
And it is not necessarily in that
order. Some will look first at the price, others will be most interested to see
that you understand their project, third will want to see that you are an
expert. Regardless of which criteria is most important for your potential
customer, all of them will have a big influence on their decision.
This article will help you win 1/3
of the freelance battle by giving the most appropriate quote.
The best quote is not the lowest
quote
Even if the buyer of your freelance
services values the price as the most important criteria, he does not always
look for a low quote. Of course the customers in the freelance market can't or
don't want to pay too much, otherwise they would contact some big company. Most
of them want reasonable price.
What does reasonable mean?
It's not about how much you want to take or how much you think is fair. It's not
about the market prices, about how much effort is included or how professional
you are. It's about how much the customer think is fair. A reasonable quote must
meet the following requirements:
- Does not include overcharges
- Is not too low. Your client does not want amateur to work on his project
- Does not make them feel scammed
- Does not make you feel underpaid
So how do you know what price to
give?
Simple, ask them what is their
budget! No, it's a joke of course. I fact, it's good to avoid asking the
customer what is their budget. Direct asking may make the customer feel pushed.
Sometimes you will have "hints"
about your client. They may give approximate budget themselves. You may know
them from someone else. If you work on a freelance site, usually the projects
have approximate budget or price category. In this case it's easier. But knowing
that is not enough.
Calculate your optimal quote
This is really simple. As a
freelancer you must be able to estimate the amount of work involved in the
project. You probably have average hourly rate. Multiply the hours to your
hourly rate and you have the basic quote. Add to this any fees you may need to
pay - for credit card procesors, bank wire, check fees, western union, escrow
fees if any and freelance marketplace fees if any.
Now you have your optimal quote. But
as said above, such a quote is not the best. Sometimes you may earn more,
sometimes may need to work for less.
If you have a fair hourly rate (i.e.
not too different from the market) your optimum price will not be too low,
neither will be too high in the eyes of your customer.
Going below your optimal quote
Just like you have average hourly
rate, you must have a minimal hourly rate. This is a price of your freelance
work under which you won't agree to work. For example it can be 70% of your
average hourly rate. Do the calculations from the previous item and you will
have your minimal quote.
You may need to quote between your
minimal and optimal price in case you:
- are looking for longer term
relations with the client
- are desperate for new work
- think the project will help you build expertise or portfolio
Even in these occasions, you need to
do it only if you feel the customer won't accept your optimal quote.
Going above your optimal quote
This is the best scenario. Sometimes
the customer will be prepared to pay much more than your optimum price.
Sometimes you will know that because they have stated what their target budget
is. Sometimes you will be able to judge by the timeframe they offer or by their
previous projects.
Being able to receive more does not
mean you should overcharge your customer. It is just a nice way to receive a
better payment than usual which will allow you also to do a better job. Try
giving higher quote only if you feel your potential client is willing to pay
more.
Don't stick to your optimum price,
calculated by your hourly rate. This is the market, something costs as much as
someone is willing to pay for it. Be flexible when pricing your freelance quote.
Bobby Handzhiev manages a website containing free articles and
advice about
freelance employment -
http://freelance-employment-help.com
