Wednesday, April 26, 2017

Never Work for Low Rates – Part 2

Namaste friends and freelancers,

Daily Blogging Challenge: Day 6, May Day Special!
Let’s continue from where we left yesterday (Part 1). I hope the first two reasons were clear to you. Here is the third and most important reason why we should not work for cheaper prices. Cheaper prices attract cheaper buyers and more often these cheaper buyers make our lives hell, as a freelancer!

Reason 3: Cheap Price attracts Cheap Buyers

Well, this is very controversial as we often play the role of a buyer as well while being a freelancer, and we also expect to get our job done for as low a price as well – often while reselling a service. But I have to say, from the years of experience I have as a freelancer that more problems are faced when you work for cheap for buyers who want their work to be done for the cheapest price possible. More often than not, these buyers would not know what they really want from you and will make you rework while beating around the bush. We often get both kinds of buyers – who are very understanding or are very problem creating, they know not what has to be done and hence, the hassle. There is no rule saying buyers paying you more will create lesser problems, but if you have to spend time on rework and meeting unrealistic demands of the buyer, isn’t it better to do these for a higher paying buyer?

There is this algorithm, that I tell everyone about cheap price and cheap buyers. A buyer who knows what has to be done would know how much time and effort it would be necessary. Based on that he can easily calculate how much he should pay. Now, the differentiating factors of choosing a seller would be the quality of work the seller has produced so far (based on reviews) and the experience that the seller might have (based on portfolio and profile description). He would also know where all a seller can make mistakes. Hence, he can point out the exact problem and reduce the time taken to rework and fix those issues.

One cannot expect these things from those buyers whose main concern is the money that they are paying you. They do not look at anything else other than the money and will hire you even if you do not have expertise or experience in that niche – only because you have quoted a lower price. And the moment you accept the offer, the disaster will start! Neither you will be happy working for a low price (as we saw earlier) nor will the client be able to guide you on what he wants, clearly. In most cases, these clients are those who resell their projects.


Put a Price to Your Expertise

It is most important to know your worth and put a price that respects that worth. Find out what the average hourly rate is in your niche. Find out what other freelancers are working for. Based on that, set yourself a price which will be able to meet your freelancing goals and tell the buyer that you are better than most of the others who work for a much lower price. Pricing is key, but it is not everything that a buyer look for while choosing a freelancer for his project. There are lot more in you and your business than being only a cheap offering!

With this, I will end this article spread over the two days. I hope this helps you in your journey. Please remember these while bidding for or accepting an offer from the buyer. Know your worth and have trust on your own skills and ability to attract buyers and get more work.

Wish you all the best in your endeavors. Have fun in the journey. You will have a wonderful destination to rejoice.

Cheers!

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Thanks a lot,
The Indian Freelancer
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