With the current harsh economic times in Kenya, many individuals have opted to venture into online freelancing to earn an extra coin. Freelancing gives one the liberty and flexibility to choose their favorable jobs. Today, many Kenyans are joining the freelancing industry and making it their main income generating entity. Nevertheless, many newbies are faced with a challenge when it comes to quoting prices against their bids.
Flexibility in the Freelancing Industry
While many freelance jobs come with a fixed rate, freelancers are often required to define their payment expectations. This can be very challenging, especially to a beginner. There are various factors to consider when placing bids and quoting prices?
What to Remember when Quoting Prices as a Newbie
1. Understand that there is Stiff Competition in the Freelancing Industry
There are millions of freelancers worldwide. Landing a freelancing job requires good project bidding skills.
Many clients are out to hire freelancers on a low-budget. Newbies should be ready to work on low budgets in the beginning.
However, this should not stop beginners from quoting reasonable rates. Remember the quoted price is also a reflection of an individual’s worth and an indication of how competent they are. Quoting a very low budget can be perceived as being incompetent. Prices can actually determine the clients a freelancer attracts. Remember it is easier to lower prices than it is to increase them. When freelancers quote high rates, they should be confident of the quality of their work.
2. Charge More to Maximize Your Profits
Freelancers who charge more earn more. However, charging high rates comes with the obligation to deliver quality work. Clients will always be happy to pay if they are assured of quality work. Freelancers should not be gullible while charging for their services. Carrying out extensive research can help them determine how much their competitors charge for similar work. They can then use their findings as guidance towards setting up their preferred rates.
3. Consider Your Experience
Landing freelancing jobs as a newbie is not an easy task. Many clients prefer working with experienced individuals. This should not discourage people from venturing into the industry. Every successful freelancer began as a newbie. Many of them have shared their stories in their blogs which prospective Kenyan freelancers can use for motivation.
Newbies should not be afraid of quoting low prices. Doing these projects plays an important role in developing their experience.
4. Choosing Between Price per Hour and Price per Service
Many freelancers get confused when choosing between price per hour and price per milestone/ project options. While the price per milestone option may be more convenient, it may not be the better option for a long term project. In order to maximize profits while tackling long-term projects, freelancers should choose the pay per hour option.
5. Consider the Client’s Expectations
Different clients offer freelancing work with varying expectations. Some bulky projects may come with a short deadline, and inconvenience a freelancer’s schedule. For such projects, freelancers can quote reasonably higher prices as compared to the more flexible projects.
6. Do Not be Afraid of Negotiating
Many individuals are never comfortable discussing money. However, when it comes to freelance work, individuals should be ready to discuss their expectations with the client. This gives them an opportunity to get the best terms.
7. Establish the Client’s Budget
Since clients always have a set budget, freelancers can try to find out their budget before laying down their expectations. This helps them adjust their rates accordingly. In as much as clients may have low budgets for newbie’s, freelancers in Kenya should work towards proving their skills and worth by submitting quality work. This way, clients are likely to increase their rates accordingly.
Freelancing can be a difficult task for newbies. Understanding bidding and quoting of prices can be equally challenging. However, research and consultations and experience can help one get better.