Going Solo: Where do you start when you set a fee for your services?

by Urs E. Gattiker on 2008/05/16 1 views

in e marketing 101 KISS

    Going Solo Live, Having a session on billing, how do you get projects paid for – billing – hourly or per project or comingation, find out and read on. I keep blogging about this #GoingSolo, @Suw @dahowlett, @StowBoyd

We have already posted these stories about Going Solo Live here:

Going Solo – @Pistachio – how to use Twitter smartly NOT

Going Solo – it started

Suw Charmann moderated a session entitled Setting Rates and Negotiating with clients Martin Roell, Stowe Boyd, Dennis Howlett. What they shared with us was:

– set your rates according to type of client, type of project, different risks, different pay-offs, etc.;

– often it depends on what you are doing – people compare your rates to other people’s rates;

– what is the job worth to your client;

Whatever you do it will depend upon:

– type of project

– size of corporation – Fortune 500 companies are used to paying certain rates

– people may not be interested in your credentials but check them out before you even come to the meeting – in Europe more often than you think (make sure the info is on your blog – see about Urs)

Bottom Line

Very much about billing is based on comparing your price – while this might imply your services are commoditized – it is reality.

Utlimately one becomes selective with whom one works or what clients one tries to get jobs/assignments from.

Please consider

– dealing with a government or an agency you deal with certain rates and policies that cannot be changed (e.g., European Commission has certain rates – up to Euro 4500 a project

– if it is higher it must go through an open bidding process – going above Euro 850 per day with your rate causes problems);

– make a contract – take an agreement or saying may coming to the office starting the first day of work or paying the first installment means that you (client) means agreeing with this contract – else use an electronic signature – echosign.com

– if a venture fund needs an assessment yesterday – based on the investment at risk, the rate may be a secondary issue;

– getting part of the payment upfront is a good idea, it helps to build trust ==> 30 – 50% pre-payment helps your clients to focus and weeds out those that are difficult payers;

– finally, it depends on a freelancer or the small firm – find a way on how you can sell your rates

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