First things first, let's quickly go over some of the most common pricing mistakes that freelancers and business owners are committing.
- You base your hourly rate by reverse engineering what your annual salary used to be.
- You can't justify your pricing model and rely solely on calculators, market rates, or the previously mentioned salary.
- You still have a subordinate-to-boss mind-set when negotiating your rate with a client.
- You haven't been collecting social proof, testimonials, or reviews to validate your rates.
- You still charge by the hour. As we've explained in the past, "you are stuck making the same amount of money each hour, no matter how long it takes you to complete an assignment. You can raise your hourly rate, and you might be able to charge a large amount, but you still need to base your earnings on how long you work."
- You haven't raised rates -- despite building a solid portfolio and a stable of clients.
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