My 5 Favorite Things In: What To Charge

Since I’ve started freelancing for a living, I’ve screwed myself over multiple times, mostly by undercharging clients.

It never fails. A new possible client asks for my rates, I panic, and then I proceed to sell myself short. I’m still learning, even as I get a firmer grip on market norms, which is why Laurie Lewis’s What To Charge: Pricing Strategies for Freelancers and Consultants is such a great resource to have on hand.

After the jump, my five favorite things about Ms. Lewis’s book:

1. It provides the basic equation for figuring out your hourly rate — (total income minus expenses) divided by hours logged — and then moves on from there.
2. It lists all the questions you should ask a client before settling upon a set rate or flat fee (a reminder that you shouldn’t freak out, as I sometimes do, and rush to provide rates that end up biting you in the butt).
3. It gives perfectly reasonable suggestions for dealing with clients who are slow in handing over your cash (a common problem for many freelancers).
4. It provides examples to aid in drawing up contracts and letters of agreement.
5. It shows that there is no one-size-fits-all rate or pricing method, and helps readers figure out how best to adapt the tips throughout the book to their own freelance business.

Get thee to the nearest bookstore!