Short on Time?

Image
Time2Grow #1 Damn the paradox! Full speed ahead! Apart  from   time travelers  -  which are a very rare type of people -   we all  get the same  24 hours   a day .  Similarly, monks , hermits and lone wolves are usually the only ones capable of freeing themselves without delay from the most ordinary types of everyday hassles and many other kinds of  not-so-fun   responsibilities. Ain't it cool to shave your head...? So, what does this leaves us with? 😕   Well... with an overwhelming majority of people having exactly the same amount of time in hand as you do , and – most likely – the same unexceptional daily chores and struggles ... Same "stuff", different day... We’re not all that different , although some may try to convince you otherwise. Especially time lords . They’re the worst.  Speaking of which… never trust a time lord .  Have you ever met one?  Full temporal perception … being able to observe the past, the present and the future… in any timestream . Hm

Which pricing method to use?

We have picked three different methods by which you can determine a price for your work. Unfortunately, there is no universal solution for it. It depends on the person and on a series of circumstances. However, we think this will help you find the best method for you:

1. Hourly rate


How it works:  you track your time and calculate how much the job costs based on your hourly rates (be it client-specific, by activity, a general rate, etc.)

Advantages

  • An hourly rate may look more inviting for the client, making it easier for both sides to negotiate. It also offers the feeling of more malleability in terms of payment if compared to a fixed price.
  • A freelancer can decide how much effort to put in a project according to the hourly rate agreed.
  • It is likely to increase productivity, since it requires time tracking and time management, therefore, more organization.
  • Less risk of ending up underpaid if a job takes long.

Disadvantages

  • An hourly rate may seem high in comparison with a monthly wage.
  • It can happen that your time tracking and the client’s estimate do not match. That can be solved by previous agreements and arrangements, though. 
  • Gives the customer more control over your working process, which may hinder your freedom to work and the client will most likely expect the same excellent result regardless on the limitations imposed to your working time.
  • Some people argue that this system punishes those who are able to work well and fast (which can be solved by rearranging hourly rates, though)

How can time tracking help: besides making the whole process more agile and the billing much easier, it will provide you with a fair income and the flexibility to organize hourly rates according to what each activity demands.

2. Fixed price


How it works: a price is set from the start. Either agreed with the client or based on a standard price list.

Advantages

  • You can put a price and just agree with the client on the steps of the projects and stick to it.
  • It is easier to set conditions and establish time frames.
  • More flexibility to create a price list for additional activities, should the customer need some.
  • If you finish faster than expected, you still get the same pay.

Disadvantages

  • Clients have a harder time accepting extra expenses, since they understand the price agreed is for you to work for them regardless of the kind of job agreed for the project.
  • At the beginning of a project, the customer has no idea about how much extras can be necessary and how much they will cost unless a time tracking system is agreed on.
  • Negotiations about what is and what is not included in the total price can demand longer negotiations, for which you will most likely not be paid.
  • If it turns out the project was more complicated than you thought at first, you still get the amount agreed with the client.

How can time tracking help: tracking your time, with or without hourly rates, will provide you with data, which can help setting prices, and providing more precise time estimates in the future. In addition, it makes it much easier to come up with a report if required.

3. Price ranges


How it works: a price range is set with a minimum and a maximum price for the job.

Advantages

  • It makes the client feel safe since it provides a boundary over which price will not go. 
  • Gives you flexibility to work and staying under the limit makes the client happy.  
  • You know the minimum you are supposed to receive.  
  • You have room to arrange prices according to the market.

Disadvantages

  • Clients may believe you have a price set and the flexibility is just a sales pitch.
  • It makes it complicated to negotiate over the maximum price even if very necessary to meet the client’s request. 
  • May require further preparation and negotiation so the possibilities are covered, in case there is a need to go beyond limits.
  • You might have to stay closer to the minimum more often than you found you would at first.

How can time tracking help: Tracking time will help you know where in that interval you should place your final price. With a set of hourly rates you create, you can come up with a price you consider fair and adjust it according to clients or the market.

These are of course our suggestions. Try the method that seem to fit your needs best and share with us, we might have forgot something. Thank you and have fun. :-)

Comments

Robert Welain said…
Here's a bunch of cool remote spy software for you, guys!
ellieharry said…
Under the Cost Model, the advantage is conveyed at cost less aggregated devaluation and debilitation. do my assignment. Under the Revaluation Model, the advantage is conveyed at a revalued sum, being its reasonable incentive at the date of revaluation less consequent deterioration and impedance, gave that reasonable esteem can be estimated dependably.
Olivia Katie said…
I discovered your blog to fit my requirements very well. It contains wonderful and helpful posts. You can visit us at: https:/www.errorcodeexpert.com/how-to-fix-epson-printer-error-code-e-01/ for the best solution for immediate assistance linked to Epson Printer Error Code E-05.
Unknown said…
I will definitely choose price ranges because it gives flexibility to them whereas, in our company which has professional thesis writers, are also prefer price ranges because they also think that their client will never irritate from this.
The information you give us is very helpful, thank you.
I really didn't knew about pricing methods, Thanks for information i am really feeling good because this is making me halpful for others.
johnsmith265 said…
thanks for the information provided by you it's really a great help from your side but i got the complete solution from mentioned site
Milly Smith said…
Thanks for sharing such useful information.
kate said…
It's a great experience while reading your post! If facing any problem related to a printer please visit us ricoh printer offline to settle down your issues.
George Martin said…
You have really imparted useful tips/ knowledge.
If you facing any problem regarding Brother printer paper jam hit in it and solve your problem.
Hi, I appreciate your speculating as it attracts people’s attention and make this topic discussable. If you want you can also read this blog which talk about Microsoft Windows Error in a very easy way.
shane lee said…
Essay editing services have a number of top-notch editors with extensive academic writing experience. Best Assignment Writing Service
arianapham said…
On the topic internet page game cool math games you will see my best information, be sure to take a look at this level of detail.
alicetaylor said…
In short, a pricing strategy refers to all of the various methods that small businesses use to price their goods or services

hotstar app free download for windows 7 32bit
Best said…
I gave detailed replies to each student's answer and I saved all my emails so I could copy and paste my replies to different students who had the same answer. Correct answers were easy - I said, "you are right" and reiterated why it was correct. 360DIgiTMG data science institute in hyderabad
Anonymous said…
This allows us to be as close as possible to you and be very responsive, and to follow up also with your teams in France and locally regarding the progress of your development.
TTE Gulf market research company in dubai
adam scott said…
wonderful post, very informative. I wonder why the opposite specialists of this sector do not realize this. You must proceed your writing. I am sure, you’ve a great readers’ base already! Epson printer offline
joehansan said…
Facing Brother hl-5370dw wireless Printer setup. This Brother hl-5370dw wifi setup happens due to the failure of the printer driver software or due to a virus or malware invasion. We give online help for Any problem in Brother printers.
360digitmg said…
You have done a great job. I will definitely dig it and personally recommend to my friends. I am confident they will be benefited from this site.
Best Institute for Data Science in Hyderabad

lily jones said…
People as Hitler and Mussolini are a black spot on history and humanity.
https://www.hpsupport365.com/blog/error-code-0xc00000f-windows-10/









subha said…
I really glad to visit this post and it is very useful for me to know about this topic. Thank you...!
Advanced Excel Training in Chennai
HTML5 Training in Chennai
HTML Training in Chennai
360DigiTMGNoida said…
I am reading your post from the beginning, it was so interesting to read & I feel thanks to you for posting such a good blog, keep updates regularly.I want to share about data science courses in noida
james smith said…
I was very impressed to see this post, the steps to activate using then it's good to read the latest articles and blog posts on our page. www.trendmicro.com/downloadme
salar said…
You could be a student or a fresher just out of college or a working professional that wants to shift their career into Digital Marketing can attend this digital marketing course
Maya Ali said…
Hourly pricing is pretty simple for everyone to understand. You bill $X for each hour of work you do for a client. You can sell prepaid blocks of time 10 hours at $X / hour.
Assignment Assistance Pakistan
I was actually browsing the internet for certain information, accidentally came across your blog found it to be very impressive. I am elated to go with the information you have provided on this blog, eventually, it helps the readers whoever goes through this blog. Hoping you continue the spirit to inspire the readers and amaze them with your fabulous content.
th
Data Science Course in Faridabad
I'm hoping you keep writing like this. I love how careful and in depth you go on this topic. Keep up the great work
data scientist training and placement in hyderabad
SEO Training said…
We offer the Best SEO Training in Hyderabad with advanced topics that can help you get a job easily on SEO in Digital marketing which has plenty of job openings.

Ultimate blog i would like to see your blog in future.
Unknown said…
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. If possible, as you gain expertise, would you mind updating your blog with more information? It is extremely helpful for me. https://nationaldebtlines.co.uk/is-an-iva-a-good-idea/



blogger said…
Thanks for sharing this useful information! This is really interesting information for me. visit us ..digital marketing agency
James Zicrov said…
Thanks for the great information and it is very useful to read your blog with easily understand for all readers. Well done!
Games like Synergism
legal blogs said…
I really love your blog there's a lot to share. Keep it up.Visit my site too.

new jersey divorce statutes
joe said…

Bronx New York Divorce Lawyers


Choosing the right pricing method is akin to selecting the perfect brush for a masterpiece – it shapes the contours of your business's success. Each method holds its own charm, offering a unique blend of simplicity, precision, and profitability. Whether you opt for cost-plus pricing for its straightforwardness, value-based pricing for its customer-centric approach, or dynamic pricing for its adaptability to market fluctuations, remember, the canvas of your business is yours to paint. Embrace the nuances of each method, wield them with finesse, and watch as your pricing strategy becomes a stroke of brilliance in the grand tapestry of commerce

Popular posts from this blog

Short on Time?

GDPR and updates in primaERP

25% of your money down the drain – how poor time management affects results