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Pricing freelancing services

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Saved by Tom "Bald Dog" Varjan
on June 1, 2010 at 5:38:47 am
 

Session time: 1:10 – 1:55pm
 

Location: 1st floor

Session leader: Tom "Bald Dog" Varjan from Dynamic Innovations Squad

 

SESSION SYNOPSIS:

 

The Curse of Karl Marx
Why Most Freelancers Under-Charge For Their Services And What To Do About It?

 

Before citing their fees, freelancers need to build trust, respect and credibility with their buyers. Unfortunately, traditional pricing methods often destroy trust and limit freelancers' earning potential.
Using hourly rates, freelancers become peddlers of time chunks. Using contingency (performance) payment, like commissions, they become mercenaries and focus on short-term results even at the expense of long-term and lasting prosperity.

 

As a result of their pricing strategies, many freelancers are traded on price, like sacks of potatoes. Then they try to make up on volume by working harder and longer to sell more time, and gradually running their personal lives into the ground, and becoming the prisoners of their businesses.

 

But buyers don't buy time chunks. Buyers don't wake up in the morning thinking to themselves...

 

"Let's hire 20 hours of coding from a low-priced programmer."

 

They are more likely to wake up...

 

"Today I get all the problems on the website fixed, so it can generate sales lead for us, so we don't have to resort to ugly, filthy, bone-jarring, mind-numbing cold-prospecting grunt work ever again."


So, today we'll take a closer look at how freelancers can price their services in a win-win fashion that not only removes the financial ceiling from their businesses but sets a massive financial floor, so they can feel safe and no longer need to chase after more billable hours.


Specifically, we discuss...

 

  • How Karl Marx's labour theory of value impoverishes freelancers
  • 6 reasons why most freelancers shy away from raising their fees
  • Why buyers regard most freelancers as fungible vendors as opposed to respectful experts
  • How to screen out real buyers from the ocean of self-important flunkies
  • Three value components freelancers must discuss with buyers
  • How to come across to buyers as a respected expert
  • Setting your fees based on perceived value


We know from McKinsey & Co. that a mere 1% fee increase can lead to a whopping 11.7% increase in operating profits. Yet, when it comes to their fees, most freelancers merely stay in step with inflation.
This is your opportunity to discover how you can charge for your services what they're truly worth to buyers regardless of the number of hours you take to deliver it.

SESSION NOTES & RECORDING:

 

Notes: http://freelancecamp.pbworks.com/f/How%20To%20Price%20Freelancing%20Services.pdf

Recording: http://freelancecamp.pbworks.com/f/How%20To%20Price%20Freelancing%20Services.mp3

 

OTHER RESOURCES:

 

My monthly newsletter: Commando Consulting: http://www.di-squad.com/toolshed.html


Measure what matters to customers webcast (8 hours): http://webcast.educationfoundation.org/p60148156/

 

Join the fight for value-pricing at http://www.verasage.com, a global think tank on burying value pricing and trashing time sheets. 

 

TESTIMONIALS:

 

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