Freelancer Problem #1: What’s your WIN?
Forget about individual projects right now. Where are you dong to be in 3 years? Is your freelance work part of your entrepreneurial business plan that will see you starting a major enterprise? Or would you like to end up working at his company? Or are you just using freelance work as a side-hustle until you do something else? Maybe you’re involved with NGOs or organizations that do socially important work that you support.
The key strategic issue is how this freelance assignment fits in with your bigger picture goals.
That is going to be key to figuring out how much to invest in getting the job — and how much you’re going to get paid.
Figure out your base rate. We’ll look at this in much more detail at a later time, but if you want plan on grossing $100K in a year, you’ll need to earn $400 per day, or $2000 per week.
So if $400 per day is your base, you now have to think about how much you are willing to adjust your price -- premiums as well as discounts. .
For an ordinary assignment, your base rate is a great place to end up. If it is an industry or cause that you really care about, you can give a significant discount if it means getting the job. And what about a difficult client or an industry that you don’t care about — or will have to do a lot more work to complete? Add in a premium that ill make it worth your while.