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The main drawback to freelancing is defining yourself as a "$$ by the hour" worker. It's very common to do so, but it invariably leads to burnout. It's not terr
by einarvollset 11y ago
The main drawback to freelancing is defining yourself as a "$$ by the hour" worker. It's very common to do so, but it invariably leads to burnout. It's not terribly hard to shift your mindset to do something different, but it's not necessarily obvious how to do so.
The main things to do are:
- understand that recurring revenue is unsurpassed in terms of LTV of your customers.
- realize that it's easy to become a world expert in an extremely narrow field
..then combine the two: what niche thing (much narrower than you're thinking) can you become a world expert in and charge a recurring fee for?
- timpiele 11y agoYup, bill by value not the hour. Look at a Project and say that'll be $10,000 and knock it out in two weeks.
- pmontra 11y agoI usually do fixed cost projects unless projects are so ill defined to require by the hour billing. Your advice is my advice but unfortunately customers are not so out of touch with reality. If they expect the project to be done in 2 weeks they'll start negotiating from 2,000 and If I can do it in two weeks they won't expect more than one month.
- patkai 11y agoI agree with you, but this is a really bad advice for most people reading this. Billing by value - as a consultant/freelancer - will get you in endless discussions about what value actually is and you will have problems estimating the project.