One of the most common questions we receive at OnFrontiers regards setting hourly rates. Engaging with an expert network can be an exciting freelance endeavor, but knowing how to value your hard-earned knowledge can be intimidating.
Instead of keeping track of your time and charging hourly rates, you can charge an agreed-upon project rate.
With this type of fee, the focus is on the result, instead of the amount of time you take to complete the project. Try to take your experience, dependability, and speed into consideration instead of just using the number of hours you think it will take when calculating your project fee. The client doesn’t need to know how you came up with your fee. They just need to know how much it will cost to get the job done.
An obvious benefit is a fact that you may finish the project faster than you thought. On the other hand, it could also take longer than you expected. What if the client changes their mind or doesn’t clearly explain what they want? The project could also become more time-consuming with the addition of new elements or unforeseen challenges.