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I feel like the challenge I’m working through most right now is just getting started. I keep letting little details bog me down. I just did my taxes and I only freelance for about 3 months last year (with abysmal pay) and still the IRS would have taken tons of money away from me if I wouldn’t have gotten a break because I was a full time student.
I won’t have the student excuse for 2016 taxes and it’s already freaking me out. I know I need to get paid more and I think that I’m worth $40+ an hour, but whenever I pitch to a client I get worried they won’t be willing to pay and so they’ll overlook me.
I feel you Brittany…and I promise…you’re worth more than $40 an hour. One of the reasons most freelancers aim for $50+ is that taxes hit you so hard.
Do you think you’d be up to pushing $50 for your next project? I think you could really do it if you…
1) make sure to screen for clients who have more money and
2) consider working by the piece as opposed to the hour, so you have more control over how much your time comes out to be worth.What do you think?
I’d definitely be up for that. I may just be looking in the wrong places.
What do you mean by working by the piece?
I think my biggest problem is I go after clients that I know could do so much better, but probably can’t afford what I want to do for them. After a consultation they’re always ready to dive in and commit, but after a week of no changes, they’re ready to call it quits. Truth is, you don’t build a social presence in a week and every blog post written isn’t going to go viral, these things take time and I’m always honest about that up front, but maybe it’s something I need to include in the SOWs I have clients sign.
Working by the piece might be harder with social media management, but it’s doable. I seldom work by the hour since you basically penalize yourself as you get faster.
So for example, I create social posts for Twitter/LinkedIn for some of my clients, but I charge per post ($15-$25) and only charge by the hour for actual time managing their account. Blogs, I NEVER charge by the hour…only by the piece and on a word count range using a model post so we’re in agreement re: complexity and research needed.
But yeah…you’re hitting on expectation management there and it can be hard to get new companies to understand how long it can take to build an effective social presence. I try to send them some stats/articles around how long it takes (usually 6 months to a year to see traction) but at the same time present small victories up front ASAP (like getting followed or shared by someone they respect.) Staying in communication via weekly/monthly summaries can go a long way in making them feel the value you bring.
But as far as looking for better clients, I run my clients through Hoovers.com to see what their yearly income is. Under $1M and they’re probably not going to pay that well. You can do small companies, but you’ll need serious volume…which is easier if you work by the piece. Hope that helped!
It definitely did. Thanks!
Thank you, BlackFreelance, for sharing your advice on this. I do that for clients that I obtain when I meet them away from the client platforms.
What advice do you suggest for freelancing platforms (like oDesk, Guru, etc.) that require an hourly rate? I don’t use this often (usually), but they do serve as an income supplement?
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