How To Price Your First Freelance Project

what up guys and welcome to my second part of starting your freelance business if you haven't watched the first one click here to see how I recommend you get started on freelancing but assuming you're here you have just got the opportunity to do your first freelance project so hopefully if you've listened to the first episode in this series you haven't gone in full-time as a freelancer but you still have kind of a job and so this project is kind of extra on your day job and you're not like fully dependent on this one project if you are fully dependent on this one project I'll talk about this later on but assuming that you still have a day job and you just got a recommendation or a client potential client gives you a call saying hey I need your help with designing we're developing we're doing that thing can you do this for me how much will it cost now this is a tricky quiz the situation because you haven't done this before and you're not really sure what to ask for so here's what I recommend first of all before you go into any kind of negotiation or talking about money you have to know what you want because if you don't know what you want you're never gonna get it right because you don't even know the way you want so you'll just accept whatever they offer you or whatever they tell you you're not gonna be able to judge is it a good offer is that a battle first so my recommendation before you even get on the phone if you just have somebody who said can we talk about this or approach you by email or whatever before you want to the talk where you discuss money or going to the meeting do your research which is as simple as if they're asking you to design a logo go and Google and write how much does a logo cost and there's probably like gazillion articles about this and you should read them obviously most of them will probably be on the low end or you should at least know that for every product or a service there's kind of a low end which probably might be something like something that you would find maybe on upwork or five or something like that there's probably going to be an average cost of that service kind of an average and then there's gonna be a high end so maybe for a logo design like a super cheap end would be maybe around $5 to $100 medium cost can be a few hundred dollars and then high end would be thousands of dollars or tens of thousands of dollars so you don't really want to be on the low end and the reason that you don't want to be on the low end is as I've described in the previous video being on the low end is somewhere right it's gonna be super hard for you to go and go out of this kind of low end as you progress in your freelance career so you want to start somewhere from the average so by doing this research you know that if they're talking about the low end pricing you probably don't want to be in that position right now you probably want somewhere in the average obviously you can start from the high end is your first project ever now when you go into the discussion about money the first thing that you should say is asking them when they ask you how much you water or something like that you should ask them what is your budget and the reason that you ask them if they say the price first there's a good chance if they'll say what their budget is that it's much higher than what you were planning to ask for them and if they say I don't know like $1,000 or budgeted $1,000 and you were willing to do this job for like a $500 then obviously they just did the negotiation for you you can just say all right let's do it for $1,000 I can work with that obviously you don't have to look too happy because if you look too happy then they know that how they're paying you more than you think you deserve so don't do that because it's important that they will feel good as well right fuming yes thousand dollars they're gonna be feeling like oh my god I can't believe we're paying in $1,000 so you need to make sure they're happy as well and to make them feel happy you have to be like struggling $1,000 I don't know yeah I can do this for you because you seem nice and there 'only yes he's willing to do it for only $1,000 actually we would pay him 2000 but I got him down to 1,000 so in that case everybody's happy and so again maybe and it's very likely that it won't tell you their budget if they will awesome awesome for you if they don't give you their budget then at least you have somewhere where you know where you can start and that is the average price that you have researched and you can try and start from there and hopefully they'll go with it maybe there'll be some some negotiation obviously but that's a good place to start now remember if this is your first job then your best priority is to work with clients to build yourself a portfolio and build and work with high quality clients that's why again you don't want to be on the low end you want to work with good clients to get started to get the ball started to get some good referrals if you did not listen to my previous video advice and you did went all in to your freelance business and when you move to full full-time freelancing pricing becomes very very different because you really need to know what you're making in order to break even so you have enough money to pay your rent and pay everything else and then it's more complicated because you first you have to understand what your break-even rate how much you have to do pare working hour in order for you to not get it get into that and then you're more limited in what and how low you can go because you need to have a certain break-even rate but you must charge above hopefully much more about but there is a break-even rate which you need to charge as a minimum rate so that's what you do when you move into done freelancing all right hope this was helpful for you guys I have a lot more videos coming up on this so if you're new to this channel be sure to subscribe and join me on my journey hopefully make $300,000 as a freelancer this year alright catch you tomorrow [Music]

Channel: Flux Academy

Views: 48,191

Keywords: design, freelance, tel aviv, ran segall, ran segal, רן סגל, work, life, vlog, startups, How To Price Your First Freelance Project, pricing strategies, web design pricing, how to get your first freelance client, freelance pricing, start freelancing, first freelance project, design pricing, how to price design, how to price your work, how to price development, how to, graphic design, ux, ui

Id: HyLXp6q_4UA

Length: 6min 14sec (374 seconds)

Published: Mon Apr 16 2018