Strategies for pricing your services

Strategies for pricing your services

This following article is for our baby freelancers, who've just embarked on this amazing journey into the world of freelancing! Before diving in, let's get one thing straight: stop comparing your start to someone else's middle, especially those glossy Instagram freelancing lifestyles. Those filtered photos of luxury travels and posh coffee shops are just snapshots of someone else's journey, not a benchmark for success.

It's essential to set boundaries, manage clients, and hold onto hope even when the going gets tough. We know it can sometimes be a steep learning curve, but remember, every freelancer has been where you are now, navigating the ins and outs of setting prices, managing client expectations, and finding their unique place in the vast freelance market.

How to stop comparing my life with others - Quora

The power of perception

After finding clients, one of the hardest things to do as a freelancer is to determine your freelance rates. You don’t want to price yourself out of the market, but you still need to be paid fairly for the time and effort you put into your work, as well as for your talent and skill. You also need to make a living! Remember, there’s only one thing worse than charging a client too much–not charging enough.

The first, most pivotal lesson in freelancing is not necessarily about the mastery of a particular skill—it's about perception and positioning. How you present yourself in this vast market, from the design of your portfolio to your communication etiquette, can profoundly impact potential clients' perceptions. Price isn't just a number; it's a statement about your brand. It indicates how much you value your time, and expertise, the quality of work, and the innovation you bring with each project. Pricing right is a mix between understanding your worth and acknowledging the market.

Sensation, perception, emotion (Animation) - YouTube

Plan, plan, plan - in advance!

It's only natural to start your freelancing journey with a head full of dreams, optimism brimming in your eyes, and aspirations touching the sky. And while optimism is the fuel that'll drive your passion, it's equally important to have your feet firmly planted on the ground of reality. Understand the market dynamics, recognize your competition, and assess the unique value you bring to the table. Remember, every profession has its highs and lows, so plan your finances and time accordingly.

Once you have an idea of what the going rate is out there for your freelancing work, it’s time to focus on your needs. What is the minimum amount of money you need to make from freelancing to survive? This includes your monthly payments, utilities, food, transportation, and other bills.

While the first thing you need to take into consideration is the baseline amount of money you need to survive, that of course isn’t your main goal. By going freelance you choose how, where, and when you work, as well as how much you work. In theory, there really isn’t any limit to what you can earn.

Adapt & overcome

Freelancing might seem like a solitary endeavor, but in reality, it thrives on connections and networking. Engage with other freelancers, join online communities, attend webinars, and never miss an opportunity to learn. Other freelancers can offer advice, refer clients, and even collaborate with you on larger projects. Remember, at HYVE, we believe in community over competition!

Whether it's praise for a job well done or constructive criticism on areas of improvement, take it in stride - the ability to listen to your clients, understand their needs, and adapt your services accordingly can set you apart in this competitive landscape.

Decide on how you want to get paid

The choice is up to you here - many traditional freelancers resorted to HYVE because the traditional banking system and fiat currencies are not so stable right no. Using cryptocurrency, they can spend and receive money from anyone, anywhere, at any time throughout the world and without the need for a bank or a government. In addition, our platform has the lowest fees in the market, therefore see if you match with one category and try it!

What's in store for us?

Such a simple question, that can yield so many answers! As we mentioned earlier today, Q4 is going right to plan! We are trying to start our advent calendar earlier, and deliver around 1 to 2 new partnerships a week until Christmas Day - it's like Santa came in early!

Now that we move back to our freelancing informative blogs - before choosing one payment option for your services, it's important to know how to price your strategies. Hope that our latest piece helps you on your freelancing journey and enables you to have a lucrative pricing strategy! Drop us a mention on X with how it works for you.