How to Price Yourself
The 3 Easy Steps to Always Have a Price Ready
If you’re a freelancer, you’ve heard it a million times.
“How much do you charge to make an app/write a blog/create this website?”
And when a freelancer doesn’t immediately have an answer ready, most people seem confused.
“But you’re a writer. How much to write my book?”
As a potential client, please bear in mind that any price I give you when we first chat has to be an estimate, as I don’t know exactly what you need yet.
In order to give you an accurate, customized quote I need to know exactly what you need and what your expectations of me would be.
Freelancers: To craft a price, you really only need 3 steps, 2 pieces of information, and simple math.
- How much money do you want to be making per hour?
- How many hours (approximately) will the work take you?
- What does the answer to number 1 times the answer to number 2 equal?
That will be your cost, assuming you don’t have any additional fees, such as hosting their website, purchasing software, buying a domain name, etc.
Hourly vs. Per-Word Pricing
I like the hourly pricing as it is an easy number that most clients understand, but many clients like doing per-word pricing.
No one has to track time and the final word count is obvious to everyone involved.
The breakdown for a per-word rate is similar to hourly.
- If you know how much you want to make per hour, for example, $75, then you can estimate how long the average 1000-word article takes you to research, write, and edit. Let’s say that’s two hours.
- Take the hourly rate that would be: $150 and divide it by the number of words. $150 divided by 1000 words is 0.15 or 15 cents per word.
It really is that simple.
So many aspiring writers ask me about prices, or I see people on Reddit, Medium, Quora, and other sites asking about an Upwork job that pays $0.02 per word for a textbook or something equally ridiculous.
You must value yourself highly. If everyone could do your skill, then they would. They wouldn’t need to hire you if they could make their own app, website, or blog post. Therefore, your skills must be valuable to them.
Act like it, and charge what you actually are worth and need to be making for you to have a sustainable income.
There will be potential clients who say no. There always are. That’s true whether you’re charging $1 or $1000.
Some people won’t want to work with you specifically, some won’t like your prices, or think your hair is dumb, whatever.
The world is full of people who will really appreciate and value your work, with only a few of the ones who don’t. Don’t allow those few to dictate your business and pricing, and don’t ever bend over backward for jerks.
There are a ton more clients out there! I promise, there are, even when you feel like they are not.
Do yourself a favor and value yourself highly first. Confidence!
Check out my YouTube video that goes along with this post.