Freelance to Founder
[Q&A] Free Money [Part 2]
Apr 16, 2024
Austin Church, talented freelancer and author of Free Money, joins the podcast to discuss calculating survival rates for freelancers. They delve into the minimum amount needed to stay in business, sustainable pricing strategies, and incorporating specific numbers in client proposals for credibility and trust. The episode also covers negotiation tactics and exciting updates on Austin's new book and upcoming webinar for freelancers.
27:11
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Quick takeaways
- Calculate your survival rate accurately to set sustainable pricing as a freelancer.
- Transition from hourly rates to project-based pricing for enhanced earnings and client trust.
Deep dives
Setting Rates for Freelancing Success
When setting rates as a freelancer, it's crucial to break down your survival number to determine how much to charge by the hour or project. One common oversight is overestimating the amount of work in a year, leading to miscalculations. To calculate your rates effectively, consider your true availability in a year and your effectiveness, which determines the billable hours. By understanding these factors and aligning them with your financial goals, you can establish smart, strategic, and sustainable prices for long-term success.
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