Raising your freelance rate can be extremely beneficial, the most obvious reason being that you can make more money.
Having an increased income allows you to dedicate more time to projects, improve your business, and create an overall better client experience.
The biggest problem that many freelancers face when raising their rates is doing it confidently.
That’s where IttyBiz comes in. They’ve written a fantastic article that poses 5 questions you need to answer if you want to confidently raise your rates.
The first question is extremely important and will arguably play the biggest role in confidently raising your rates.
“1. Are you under-charging right now?
“Raising your rates” is not the same as “Charging fair market value already”. It is completely normal to charge 50-60% of what the industry is charging when you are a beginner and trying to get some paid experience under your belt.
If that’s you, then the first thing you can do is change your frame away from “raising rates” and start seeing yourself as a qualified professional. If you’re a chiropractor charging $20 a session when everyone else in town is charging at least $50, then you don’t have a rate issue, you have a “treating your business like a business issue.”
You don’t have to get empowered, or “charge what you’re worth”, or “claim your power” to play on the same field as everyone else in your industry.
To get more confident in this area, you have to look at why you don’t feel like you, personally, can treat your services with the same respect you treat the average provider in your industry.”
Check out the other 4 questions at IttyBiz.