It’s amazing how many freelancers don’t run a profitable business and they don’t even know it!
I’ve already met a few of them.
If you don’t track your expenses, you don’t know if you’re earning or losing money.
Before you start looking for more clients and working to exhaustion, make sure you’re charging appropriately, including all costs in your rates.
Include Travel Time
If you have to spend your time getting to and from clients or projects, include that in your freelance rates. You wouldn’t be traveling if it weren’t for work, so it’s appropriate to charge for that. If you’re driving, you’re also putting wear and tear on your personal vehicle. It’s also ok to charge for that.
Be Upfront About Edit Rates
If your work is eligible for edits, (like writers or graphic designers are), be very clear about how many rounds of edits are included in your price. If a client wants more than they originally paid for, be clear that more edits will cost more money.
Know Your Monthly Income Needs
Knowing how much you need to live off of is critical. You need to know how much your life costs before you set your rates. If you need to make $5,000 a month in profit, that will help you determine your rates and the number of projects that you take on each month.
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