Author: Nelly Clarkson
Have you ever considered freelancing? It is a great way to be your own boss, set your hours, and choose the projects you want to work on.
But when it comes to negotiating your rate, it can be tricky to know where to start.
Freelancers who don’t negotiate properly, often ruin their chances of getting high ticket deals. The inability to negotiate also delays the expansion of portfolios, and missing out on future career prospects.
Here are some useful tips to help you get the best out of your freelance career through proper negotiation.
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Decide your Minimum Wage
As a freelancer, you should not get into a discussion without determining your lowest hourly rate wage.
During negotiation, do not go below this rate (Minimum Rate). This fee can be determined by your years of experience and your impact in your niche. Furthermore, ensure your minimum acceptable rate suit the quality of the life you wish for the future rather than your current status.
As a freelancer, you don’t have to be scared of your pricing because it determines your worth most of the time.
Set a limit, and you will be amazed by the result and the kind of project this fee can get you.
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Don’t Work Overtime
It may seem clear, but if a client hires you for five days, don’t overwork. If your client does not have the finances to complete the project, you don’t have to deliver more than what you agreed on.
Nevertheless, you have to make it clear from the onset. Discuss what you can do within their budget, and tell them any additional work will cost more money. Also, do not underestimate the time small projects might take.
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Know your Worth
Don’t undervalue yourself. You are a trained and experienced professional who has put in a lot of effort to get to the level you are now.
Keep in mind that you didn’t get a job based on connections but merit. You have a lot of work opportunities because of your skills and experience, and if you take one that doesn’t appreciate you, you might miss out on excellent ones.
Your competence appears through the way you work with your clients, and it will eventually help you express your worth more effectively than even the best-designed pitch or proposal.
Many freelancers neglect the fact that a client’s readiness to agree to their rate is driven by their (freelancer) “tone”. Therefore, before you begin bargaining, take the opportunity to persuade them with your skills.
This will convince them to know your worth before you talk about pricing.
Conclusion
Negotiating prices is an important business strategy. As a freelancer, it is up to you to figure out how much you are worth. Also, note that what works for one person might not work for another. Consider exploring different tactics to find what works best for your clients and industry. This will help you know the best way to negotiate fees like a pro while building your brand.