As a new freelance professional, you are eager to get started. You think that you will get more work by initially undercharging for your services.
Freelance professionals typically charge and hourly rate, or base a fee on how many hours they estimate a certain project will take to complete. However, undercharging is a fatal mistake for two reasons.
The first reason is that there is only one of you, and you only have so many productive hours that you can work, so it is absolutely critical that you charge the best rate that you can and still get some work. Otherwise you will be overworked, underpaid and the quality of your work will suffer.
The second reason that undercharging can be fatal is the damage it can do to the client’s perception of your worth. If you charge pennies-that is what he will think it is worth. By undercharging you are sending the message that your work is not worth what your competition is charging.
One thing that helps many new freelancers in determining a fair price is joining a good freelance community like GoFreelance. This will help you negotiate an acceptable price for your work with new clients and let you mutually agree to a rate that works for both of you.
If you keep your rates high enough, you will be able to concentrate on quality, and everyone wins. Your client is happy and you are happy because they send you even more work.
Your bottom line is this: Charge what you are worth and that puts more money in your pockets faster than undercharging ever would.
Eden Paul is a CPA and small business owner who enjoys helping others follow their dreams by using resources like GoFreelance For more information and ideas on how to start working for yourself, visit http://www.freelanceworkreview.com