You’re a business, price it right. Use this formula to determine a rate that works for your biz.
You’ve finally finished your client’s project. Helping to improve this individual’s time management was no easy task, but you did it. Then you look at your invoice and think, “wait, that’s how much I got paid? But I put in waaay more time and effort than that.”
Don’t worry. Figuring out the price of your services takes time and practice. There are ways to make that process go smoother and eliminate face-palm moments. Start by asking the following:
Ask Yourself: How much do I need to live? How many hours can I work before losing my mind?
We put together a formula for you. Since three’s the magic number, it’s three steps:
Remember This: You’re a business just like the big guys. Price your needs and capacity accordingly.
This tip comes from Flo Hardy. Flo is a lawyer, CEO of a crowdfunding portal, entrepreneur and Founder of SmallBizFlo, a blog offering up tips for solopreneurs, freelancers and gigworkers. Hit her up with questions on aligning your work and your worth at @smallbizflo on Twitter.
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