Kamran Ayub is a technologist, speaker, and Pluralsight author and specializes in building full-stack solutions with a focus on modern web technology and cloud native architecture.
This is a good post! One thing I learned recently that I've been doing is to try and avoid hourly rates.
This is a good discussion on why trading time for money (what most of us do for a dayjob and then translate to how we should freelance) is the lowest rung on the ladder to working for yourself.
For myself, as an example, I do freelancing technical articles for a client on a semi-regular basis. When they reached out, I used this advice to avoid doing hourly billing. Instead my rate is based on how much I write, not how long it takes me. Now if I really wanted to level up, I would change to offer a packaged service, like $1000 for 2 articles a month or something on that line. In more sophisticated cases, I'd be able to point to how much business my articles drive (like, 200 people clicked through the trial subscription sign up link in a previous article which drove an estimated $x revenue for you, therefore I'm asking for $y based on how much value I offer).
I know when I first started out doing client work, all the advice seemed to be hourly billing but I'm glad I found out about better ways to offer value and get paid for it that isn't tied to time spent.
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This is a good post! One thing I learned recently that I've been doing is to try and avoid hourly rates.
This is a good discussion on why trading time for money (what most of us do for a dayjob and then translate to how we should freelance) is the lowest rung on the ladder to working for yourself.
nathanbarry.com/wealth-creation/
You can see this advice echoed by other consultants and freelancers as well once you dig into podcasts or articles.
Daedtech is one of my favorite resources on professional freelancing/consulting and Erik gives out excellent advice:
daedtech.com/dont-take-freelancing...
For myself, as an example, I do freelancing technical articles for a client on a semi-regular basis. When they reached out, I used this advice to avoid doing hourly billing. Instead my rate is based on how much I write, not how long it takes me. Now if I really wanted to level up, I would change to offer a packaged service, like $1000 for 2 articles a month or something on that line. In more sophisticated cases, I'd be able to point to how much business my articles drive (like, 200 people clicked through the trial subscription sign up link in a previous article which drove an estimated $x revenue for you, therefore I'm asking for $y based on how much value I offer).
I know when I first started out doing client work, all the advice seemed to be hourly billing but I'm glad I found out about better ways to offer value and get paid for it that isn't tied to time spent.