Pricing freelancing projects
Fixed, variable, one time
Fixed, variable and one time pricing strategies
COVID–19 and economic slowdown have harmed and benefitted freelancers at the same time. Layoffs have created more work, but they do not get market prices. By 2020, 50% of workers may go freelance.
Tom Hirst has been freelancing as a software developer for the past 11 years. He shared his pricing strategy. According to him there is no one pricing strategy. Different pricing methodologies work for different projects. They are hourly billing, daily billing, retainer, fixed-pricing and value-based pricing.
He writes, “Things that increase perceived value and thus project price:
The scarcity of your time (availability)
What you’ve done before (credibility)
The project price itself.”
His advice to freelancers is to avoid hourly billing, get a deposit for fixed work, avoid sharing estimates, and retainer ship provides safety.
Dig deeper: India’s Gig-Economy -A Peek into a Freelancer’s life Link