Average freelance bookkeeping cost
Here’s a few pros of fixed fee pricing models:
With fixed fee pricing you’re typically on the hook to complete the job, so it still pays to know (at least internally) what your actual deliverables are, how much time the project will take, and how much you want to make per hour. Or it might make sense for a services-based freelancer to create specific packages that have a fixed fee price, like a certain amount of blog posts per month, or a fixed management fee for an advertising campaign. You can justify your fixed monthly fee pricing by a set number of deliverables, or a fixed number of consulting hours, or based on a certain amount of value that you are delivering to a client.Ĭharging a fixed fee makes sense for a lot of freelancers delivering different types of services.įor example it might make perfect sense for a consultant whose job is more abstract, more strategic, and more of a support role versus an implementation role. This is a very flexible pricing model that can be customized in any way you want.įor example, you might set fixed pricing per week or month, a fixed price for a package of services, or a fixed price for a specific campaign. Let's dive into getting paid by deliverables as a freelancer, the pros the cons, and everything you need to know about this pricing model.įixed pricing means that you're being paid a fixed amount per project. However, for experienced freelancers, and for a project you have experience with, this can be a great way of getting paid for your services, because there's very little room for error assuming that you've actually laid out your tasks and project-based deliverables clearly in advance. That’s because if you don’t correctly estimate the number of deliverables the project will require to complete, the dreaded scope creep can eat your profit away. This can be a very risky pricing model for beginner freelancers or for project types that you don’t have experience with. Now that you’ve got your project-based deliverables figured out, and you know the price for each, all you have to do is go down the list of tasks, tick them off and inform your client as you progress, and boom, you're getting paid per deliverable. Once that happens, all your profit can go out the window as your hourly rate decreases with every unplanned hour spent chasing down tasks you never considered in advance. Get this wrong and you may end up in an untenable situation with the project getting out of control. If you're pricing is project-based, make sure your deliverables are clearly defined before starting the project.
Pricing by deliverables just means that you're charging a client based on the completion of specific tasks outlined in the SOW (Scope of Work). There’s a lot of talk about “deliverables” and “projects” in the freelancing world, so we thought we’d clear up some confusion on this pricing strategy.