How much should you charge for your work as a Freelancer?

 

This is a common issue that we all encounter during our freelance career. You enter a space where you find a wide range of prices that sometimes make absolutely no sense. Some article writers will charge per hour, some per word and their price range can be pretty wide. You, as a newcomer become confused and have no idea what to do. Should you follow the one that has the lowest price, the one in the middle or the one with the highest price? The answer is none. You should always have a minimum price for your work calculated before you start sending the proposals.

I have spent way too much time on calculating the prices for my work. Some guides were helpful, some were a complete waste of time and in the end, it all depends on what is the lowest price you would work for. This is where we should all start. Here are a few tips to keep in mind when calculating your minimum price.

1. Establish your minimum salary

Calculate your minimum monthly wage by adding every expense you have during the month to the equation. This includes your bills, rent, food costs and projected savings (don’t go too far with that one). How much does all of that cost? If you plan to work 8 hours a day then divide the total cost with your projected monthly working hours and there you have it, your absolute minimum price for your work.

2. Don’t ignore taxes

Everything mentioned above is great for starters but you should always think about your taxes. You don’t want to end up with no cash at the end of the year when taxes are due. They are a key part that should be added to this equation.

3. Pay attention to the working days

On average, a working year should last about 260 hours but you can’t base your minimum wage on that assumption. A lot of that time you won’t be charging your clients but rather reaching out to them, sending proposals and doing marketing for yourself. A good rule of thumb that I use is 5 working hours per day. This is the number you should use in the minimum wage calculation.

4. Prioritize projects.

This is probably the most important part. We all know that there are some projects that look exciting and there are some that you would just rather not touch. But what to do if a client with non-interesting project contacts you? Have two sets of prices. For projects, you would enjoy working on use your minimum wage or add just a few dollars on the top of the price. For the ones you don’t like add 50% or even double up. This way you may hate what you are doing but at least you will know the pay is great at the end of it.

 

Freelancing can be both enjoyable and rewarding if you set things straight and know your priorities. Work hard, play hard and always charge the right price for your projects!

If you feel something should be added to this list of tips please feel free to leave suggestions in the comments below!

Time Management Tips To Make Your Day More Productive

So you started freelancing, finally quit your 9 to 5 job and made your dreams a reality. Remember that time when you were telling everyone “if I could work from home I would be able to work 10 hours a day!” How did that turn out? It took me about 3 months to start slacking and delaying my work for tomorrow that never came. I always ended up working on weekends because of this and I know a lot of you have the same problem. So what can we do about it? Here are my ten cents.

1. The Two Minute Rule

This one is very simple. If you have a task that takes less than 2 minutes to complete you should do it instantly. This can be a small data entry task or throwing your laundry into the washing machine. In your head, they can be long as a century but once you are done with them you will realize how little time awareness you actually have.

2. Act like you are going on vacation tomorrow

If you ever feel like not working today and leaving everything for tomorrow just imagine that you are going on vacation tomorrow. Not this obviously can’t work for everyone but it does the tricks for me. Creating a feeling of urgency can make you more productive and responsible.

3. Don’t waste time for no good reason

We probably all did this. I recently read a study that claims 89% of people waste time at work. This does make sense if you are working at an office for minimum wage. You feel like you deserve more and don’t want to give everything at work because of that. Working as a freelancer should eliminate all of that. You aren’t underpaid now. It is you who defined the hourly price. Wasting time as a freelancer makes no sense. By wasting time you are wasting money and shortening the time you could be spending with your friends after the work is done.

4. Leave your hobbies for later

I had the worst experience with this. I am guilty of checking Reddit boards every half an hour and this really affected my work. I could get stuck in one subreddit for hours talking about stuff that doesn’t really matter that much. It just felt much better than working. If you get used to mixing hobbies and pleasure with work you will have a really hard time in the long run. Put work first and hobbies second. You will be earning more for less time in front of the computer.

5. The Pomodoro technique

This one was created by Francesco Cirillo and it’s really simple to follow. It breaks down your hour into two Pomodoros that last for about 25 minutes. After that Pomodoro is done you take a 5-minute break to do whatever you want. This will help you focus more on work and spend that break time a lot better than usual. When you have only 5 minutes for doing something you really like you will want to make those 5 minutes count!

 

Try to combine all of the above. No one can change overnight but once you realize how much time you are loosing on stuff that doesn’t really matter, life and work will become a lot easier.

20 Top-Paid skills For Freelancers in 2018

If you have heard from someone that you could make a living out of freelancing, that person was right and you definitely can make a living from it. The only question is what you are good at and how much you will get paid for it.

Accumulated billing data from 2017 on a popular freelancing website was sent to Money for analysis. This list was containing every billed hour on the platform and the end result is what we are talking about right now, the 20 top paid skills for freelancers in 2018.

The price range is a bit big. Some freelancers managed to bill over $100 while others got about $15 for an hour of work. This all depends on your skill, how many clients are looking for that skill and how many freelancers are offering those skills at this moment. It is completely logical to think that a programmer would earn more than a marketing assistant.

“Network Analysis,” which involves complex datasets and virtual systems, is currently the most paid job you can find online averaging about $200 per hour.. “Computer vision,” a component of AI development, averages $145 an hour. The third and fourth highest-paid skills, “Chef.io,” a programming language, and “neural networks,” a component of machine learning, average $140 an hour each.

All of these numbers show that freelancing wasn’t what it used to be. Just a few years ago freelancing was a way to earn money while you were looking for another job or when you have some free time to spare. Now there are people who are making a living from freelancing and, as you can see by the numbers they are making one hell of a living.

Besides the top three jobs, there are a lot of interesting professions on this list. Let’s have a look:

  1. Network analysis ($200)
  2. Computer vision ($145)
  3. Chef.io ($140)
  4. Neural networks ($140)
  5. Firmware engineering ($130)
  6. Hardware prototyping ($130)
  7. Cloud computing ($125)
  8. Intellectual property law ($120)
  9. Trade law ($115)
  10. Privacy law ($115)
  11. Spatial analysis ($110)
  12. Apple Watch ($110)
  13. NetSuite development ($110)
  14. Acquisition strategy ($110)
  15. Algorithm development ($100)
  16. Software debugging ($100)
  17. Digital signal processing ($100)
  18. Ad lyrics writing ($100)
  19. Natural language processing ($100)
  20. Data processing ($100)

 

If you belong to this group then what are you waiting for? The demand for these skills is starting to grow rapidly and you don’t want to be the last one in line. If you still don’t have any experience in freelancing be sure to read some of our blog posts like this one. It will help you get started in no time.

5 Reasons Why You Should Hire A Freelancer

We all know how a project that we started can be the most important thing in our lives for a period of time and we want to see it through all the way to the finish line. What do we need for that? Competent people and possibly experts who would contribute to the project with their knowledge and experience. Small company owners usually don’t have that kind of staff so they go beyond their company and look for contractors elsewhere. This is where freelancers should come in regardless of what you are doing and what your project is about. Here is why. Continue reading “5 Reasons Why You Should Hire A Freelancer”

What Makes a Good Freelancer

Freelancing is a specific kind of job. If you aren’t working on a group project there will be no boss, no PR service, contact with your clients is completely up to you. All of this requires more skills than just your profession. You need to be flexible, good with words and ready to adapt to different types of people you will meet along the way. This is why we are asking the question, what makes a good freelancer? Continue reading “What Makes a Good Freelancer”

How To Write The Best Proposal as a Freelancer

The ever growing market of freelancers is becoming very competitive. Some numbers show that there are 54 million freelancers in the US alone. This is your competition, this is who you are competing against when sending a job proposal, so how do you stand out from the crowd? Honesty and a good background! It may sound simple but it’s not. Let’s try to break that down.

Continue reading “How To Write The Best Proposal as a Freelancer”

How to Stay Focused While Working as a Freelancer

Let’s face it, before we started our freelance journey we thought that it is the best possible solution for us. Flexible working hours, most of the time we can work how much we want, and when we want but some deadlines need to be met. When compared to a regular 9 to 5 job freelancing has a lot of advantages but they come at a price. Continue reading “How to Stay Focused While Working as a Freelancer”

Why Work as a Freelancer in Europe?

If you are a professional struggling to find a promising career that pique your interest, being a freelancer in Europe can be a rewarding option. It is true that most 9-5 jobs won’t let you nurture and showcase your talents simply because you are typically confined to specific job requirements. You follow your superiors’ instructions, and most of the time, no matter how great your ideas are, you are left with no choice but to shrug them off. Continue reading “Why Work as a Freelancer in Europe?”

The Art of Contracting in the UK

While the old adage goes that everyone has at least one book in them, not everyone is prepared to give up the career they already have in order to find out whether this is true. Similarly, starting out as a contractor when you have only ever previously been an employee can be a daunting prospect.

Even if it does appear to be a leap into the unknown, many people are prepared to take this step and will need to use certain techniques to create the best chance of becoming a successful contractor in the UK. Continue reading “The Art of Contracting in the UK”