You can choose when to raise your pay as a freelancer.
However, increasing your freelance rates can be intimidating.
You work hard to keep your clients happy and risk losing them if you unexpectedly raise your rates.
As employees, we have the ability to delegate the value of our work to others.
Every year, we await our annual review, which may result in a promotion and a pay raise.
We can work our buttocks off, but getting a raise is still in the hands of our bosses.
As self-employed individuals, we determine the worth of our services. It’s frightening and vulnerable because our potential clients may reject our worth.
To avoid this rejection, we frequently undervalue our services or keep our rates stagnant. We are safe.
In this post, we’ll discuss when you should raise your rates as a freelance proofreader and how to do so effectively.
1. Everyone else in your industry charges a higher price
This one is very close to my heart because I charged HALF of my industry’s standard for 6 years.
I had no idea what the industry standard was.
To be honest, don’t be like me. It is not acceptable to undercut others in your industry.
If your industry’s newbie rate is $100/hr, don’t charge $50/hr. Charge the lowest end of the pay scale if you have the skills required to be considered in your industry.
2. Your customers aren’t fully committed
When I was undervaluing myself, one of my biggest frustrations was the lack of clients who were fully committed to their investment in me.
It’s easy to believe that the ‘customer is always right’ and maintain a working relationship despite communication and payment issues.
But keep in mind that the ‘customer is not always right for you.’
3. You’re charging for time rather than results
When working for someone else, being paid by the hour is standard, but for those of us who run our own businesses,
it doesn’t make sense to offer the majority of our services on a pay-for-time basis.
What about the work you do to keep your business running when you’re not working with clients?
4. You’ve never raised your rate before
Maybe you got your pricing right a long time ago, but you’re afraid of losing your customers if you raise your prices.
Allow yourself to be bold and receive the compensation you deserve. If you’re worried about losing a long-term client, trust your abilities and know that if they value what you do, they’ll adjust to your new pricing.
You could always inform them of the pricing change ahead of time so that they have a grace period before deciding whether or not to proceed at the new rate.
5. You’ve started putting things off
Projects that were once difficult now appear to be simple.
You put them off because they don’t require any effort from you and you don’t seem to enjoy them as much as you used to.
It’s time to acknowledge that your experience and expertise have grown if you’ve started saying things like “I could do this in my sleep.”
And, of course, start charging more for it.
6. When you’re kind of a big deal
If you’ve recently completed a degree or are having your work displayed in a high-end venue, it’s time to rethink your pricing.
Have you recently completed a project for a high-profile client?
Put their logo on your resume right away, and if you’re satisfied with your work, ask them for a LinkedIn review.
Working with a well-known company raises the perceived value of your work, and their glowing recommendation could be the factor that puts you ahead of the competition for your next big opportunity.