Last week I offered some thoughts about getting started as a freelancer. Today I want to talk a little about growing your business once you’ve managed to get things running. Two main things we’ll talk about are cultivating a client list and how to price your services.
One of the questions I’m often asked is how I got started working for myself. How did I pick up clients early on. It’s something I’ve written about in the past, but also something I know people are interested in learning. Recently I was asked the question again by David of prova.fm who’s a reader here as well as a member of my small business forum.
I thought I’d share what I said to David and add a few more thoughts about my own story getting started in the hopes they can help someone just starting out on the road to a freelancing business.
Yesterday I talked about the importance of setting goals and walked through the successes and failures of the goals I set for 2009. I promised I’d give you a look into the goals I’m setting for 2010 and I’d also like to add some more thoughts about breaking down large projects into smaller tasks so you keep moving forward and complete those projects
I’ve never cared much for resolutions. Within a few weeks you’ve generally given up on them and as the days get further from the New Year an excuse excuse seems to exist for waiting until next year. In the end little changes and you are the person you were in the moments before the calendar changed.
Time is an important factor in how much money you make as a web designer. Your primary cost on any project is the time it takes you to complete that project. Learning to work more efficiently will save you time leading to more profitable projects. You can then take the time you saved to either have more free time or take on more projects to make more money.
Price = Rate x Time
Rate = Price / Time
Reduce your time while holding your price constant and your rate goes up. It’s in your best interest to work more efficiently and without too much effort you can get more done in less time.