Double Your Freelancing Podcast

Episode 3: Understanding Pricing

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Hosted by  Brennan Dunn and  Eric Davis

Show Notes
  • Fall in Virginia
  • Writing fiction
  • Pricing freelancing services
  • Double your freelancing rate
  • Reverse engineering your former salary
  • Value based pricing, value delivered to clients
  • Origins of your price
  • How to decide on a price
  • Cost plus – Cost of materials, cost of equipment, labor cost, and profit.
  • Commodity pricing
  • Lack of major expenses for freelancers when using a cost plus model
  • Cost of living
  • Market rate
  • Battle between supply and demand
  • High demand drive rates up, low demand drive rates down
  • Also a commodity based strategy
  • Economic substitutes
  • Imperfect market
  • Value based pricing (Consulting)
  • Hired as an investment
  • Goal is to make more money in the long run than the cost
  • Emotional need
  • Charge based on results
  • Reflecting on the customer’s business and proposing a solution to help
  • Using your skill (software, copywriting, etc) as a means to the end (business results)
    • Next Week

    Interview with Nathan Barry. If you have any questions for him, post a comment below.

    Resources

    Brennan  -  Samson Meteor Mic,  Shush Mac app, and  The Strategy and Tactics of Pricing: A Guide to Growing More Profitably.

    Eric  -  Million Dollar Consulting.

    Action steps

    Ask your next potential client questions that get at the business value of the project:

    • Why are you looking for this project?
    • What kind of financial outcomes are hoping a successful completion of this project will bring you?
    • What would you consider a failed project?

      • Try to get to the root of why the client is coming to you and see what you can do so you can deliver a substantial amount of business value to them.

      Transcript

      We’re hoping to get a transcript later.

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      Double Your Freelancing PodcastBy Brennan Dunn, Zach Swinehart
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