When you’re contemplating leaving a job and freelancing part-time or full-time, a regular income is an important goal. So you must start with what hourly rate to charge… based on what you are putting into the business, your skill level, and what your normal salary would be.
As part of the launch for the book, How to Start a Freelance Business (in Australia), Jennifer has designed an income calculation formula (Excel) to work out what to charge as an hourly rate or daily rate. You’ll probably need Excel or something akin to it to open it.
You don’t need to share the hourly rate with clients; you can still use it for fixed fee proposals that require a (time and expenses) x hourly rate analysis.
One of the formulae also helps you to work out the ROI of your marketing. Jen reminds you that any money you put into the business, and overheads, must also be returned eventually.
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