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Thanks for the insights, much appreciated. If you don't mind me asking, what's the W/Y and W/Z ratios in your case? Do you find it useful to charge it per day

Thanks for the insights, much appreciated. If you don't mind me asking, what's the W/Y and W/Z ratios in your case? Do you find it useful to charge it per day instead of hourly (if you've done so)?

brudgers 9y ago
To be clear, I am in the US so travel usually means driving. When I drive I charge time at my usual rate plus mileage at the IRS standard rate. I don't discount my rate based on task though sometimes it is helpful to have a flat rate to visit the client because it allows business over lunch or dinner without straining client relations. In terms of retainer, the retainer at a minimum reflects the maximum amount of work I expect might happen between my invoices on a small project. On a larger project, it will cover several invoices. The intent of applying the retainer against final invoice is that I always owe work for what I have been paid rather than the client owing me money for work I have already done. If there is an unpaid invoice, I stop work without being in the hole, and my contract says that will happen. The potential downside is owing work that won't produce a check (because it already has). On a larger contract, I may apply part of the retainer to invoices in the latter portion of the project so I am not holding onto as much of the client's money when there is a better basis for trust and the project is looking successful. This better aligns cashflow with work remaining which makes client's happier and removes some psychological overhead from my work. Early in my freelancing I would spend a lot of time preparing proposals. I typically charge by the hour because it is straight forward in an early conversation. Coming up with a price quickly is valuable because it qualifies prospects and I can walk away from a meeting with a check. The sooner it clears the sooner I start. Days match up better with some projects than others. At one time I usually proposed in half days, and that was working for the kind of projects I was doing...most of the tasks were about a half day and near the beach it the business climate was more casual.

Thanks for the insights, much appreciated. If you don't mind me asking, what's the W/Y and W/Z ratios in your case? Do you find it useful to charge it per day instead of hourly (if you've done so)?

brudgers 9y ago

To be clear, I am in the US so travel usually means driving. When I drive I charge time at my usual rate plus mileage at the IRS standard rate. I don't discount my rate based on task though sometimes it is helpful to have a flat rate to visit the client because it allows business over lunch or dinner without straining client relations. In terms of retainer, the retainer at a minimum reflects the maximum amount of work I expect might happen between my invoices on a small project. On a larger project, it will cover several invoices. The intent of applying the retainer against final invoice is that I always owe work for what I have been paid rather than the client owing me money for work I have already done. If there is an unpaid invoice, I stop work without being in the hole, and my contract says that will happen. The potential downside is owing work that won't produce a check (because it already has). On a larger contract, I may apply part of the retainer to invoices in the latter portion of the project so I am not holding onto as much of the client's money when there is a better basis for trust and the project is looking successful. This better aligns cashflow with work remaining which makes client's happier and removes some psychological overhead from my work. Early in my freelancing I would spend a lot of time preparing proposals. I typically charge by the hour because it is straight forward in an early conversation. Coming up with a price quickly is valuable because it qualifies prospects and I can walk away from a meeting with a check. The sooner it clears the sooner I start. Days match up better with some projects than others. At one time I usually proposed in half days, and that was working for the kind of projects I was doing...most of the tasks were about a half day and near the beach it the business climate was more casual.