One of the biggest problems I have seen with newbie freelancers is that they price themselves very low or they have a lot of pricing issues okay. So, in this lesson I am going to show you what are the mistakes they make and how to fix them okay. Now first we are going to look at the factors that define your hourly rate or your pricing okay number one is your market Do you have a rare skill you are a shining diamond you are rare to find then your rate will be higher okay maybe like $80 or hundred dollars per hour or maybe $50 okay it depends on your market. So, if you are in USA, your rate will be different if you are in have similar skills and you are in Asia, India or Pakistan or Egypt, your dollars hourly rate will be different. Now. First thing is that try to figure out your rate.

Okay. Try to search different websites online and try to see what is the hourly rate that is That suits you okay. According to your market Don't try to be too high or too low in the start okay second thing is level of experience. Now if you have like 10 years experience or more than five years experience your rate will be higher. Third thing is that what value you are offering even if you have hourly cheap hourly rate or low average rate but if you are offering a very good opportunity to your client Okay, the value of your of your service is very high. Like for example, my clients need MailChimp email integrated with their WordPress website Okay, so they want their subscription to go automatically.

Now they don't know what are the steps involved in this job but I know and I am going to charge them good for this because it is really needed feature for their website okay. So this is basically the value you are providing them you are providing them automatic subscription via MailChimp, okay? The fourth factor is that your previous work record okay now clients what they are going to do is on any freelance website I'm going to show you in few seconds the example of my Upwork profile okay what they do is they are going to look at your previous jobs you have completed and they are going to compare that hourly rate with their own okay. So if you have applied on a job with $100 per hour rate and the previous job you did was for $20 per hour, I think this will make your client upset okay.

So the takeaways are never start too low or too cheap hourly rate in the start of your career Okay, this is going to fix your you can say anchor so if if your first anchor or first arrow is a bit higher, then in the future you will aim more higher. Okay, now in the beginning of your careers second thing is that let your client For two to three hours and then start billing them Why? Because if your hourly rate is a bit higher like maybe even in the start you are charging, charging $20 your client will be reluctant to you know give you task okay because you have no previous record or no experience. So what you need to do is you need to tell your client that please test me for two to three hours if you don't like my work, I will refund you Everything okay.

So this is a way of starting your carrier. The biggest problem I have seen in the freelance carrier is that pricing yourself too low in the start of your carrier Okay. Now what it is going to do is it is going to put an anchor in your clients head okay. So client will always judge you with your starting rate. So if your first job was like $10 per hour, he is not going to pay you above $10. Okay, so It will be very difficult for you to go above now how to fix that is that try to take fixed rate jobs in the start okay small fixed jobs rather than hourly.

When you have comfortable you are comfortable that this client is giving me good hourly rate then switch to hourly rate Okay, second thing is that try to learn some skills Okay, upgrade your skills, upgrade your level of experience upgrade your portfolio to get more high hourly rates. Now here is a very cool and secret tip how to use anchoring to psychologically dealing with your client okay. So what we are going to do is that we are going to set our hourly rate 10 to 15 or maybe $20 higher in our profile, okay. So in your freelance profile or any profile on your freelancing website, set your hourly rate $20 or $10 or $15, higher okay. So this is the first step in using this psychological technique. Now the second thing is the second step is that when you apply on any job you are going to give your client a discount of like 10 or $15 in your hourly rate and he will be you know happy to get it even this happens with me a lot when I'm I go shopping and few of the shopkeepers they have this technique applied and this I am always amazed by it because it improved by improves my satisfaction level Okay, if he says that this thing is $100 and he said okay for you, I am going to make it just $60 and then the next step is I never bargain okay?

So I say okay, yes, that's it, give me this bag or purse or something like that in just $60 Okay, so I'm, I'm saving $40 over here. So this is anchoring effect. Okay. So at some 10 or $15 to your profile hourly rate and then reduce them while you are applying for a job. So this is all about pricing yourself low and using anchoring technique to psychologically deal with your client and get good rates. So that's it if you have any questions asked me.

Let's move on to the next lesson.