Whether you're a freelancer working from home (opens in new tab) or a small studio owner, something everyone has in common is money. You do the work, you get paid, right? Sounds simple. However, making sure you get paid correctly and on time requires a lot of planning and patience, which many freelancers will attest to.
There are many things you need to consider when calculating how to price your design services (opens in new tab), so where do you start? Earlier today Mitch Goldstein (opens in new tab), a professor at Rochester Institute of Technology’s College of Imaging Arts and Sciences, started a thread on Twitter (opens in new tab) asking creatives to share their valuable insights on money. He also pointed out that the subject was not one covered much in design schools, and so called on 'Twitters' to help.
This topic is so often not talked about in any detail at design school — so let's help each other out here on the Twitters.May 24, 2018
And the design world answered his call in droves. Goldstein's conversation now has creatives all over the globe sharing their experiences and offering advice and tips on everything from how best to price your services to things they wish they'd done from the start and what to avoid when it comes to money.
Below are just some of the tweets that have come flooding in, and these handy tips featured represent just a snippet of the brilliant money advice up for grabs over on this Twitter feed.
Do you have a money-related question? Or have you got any finance tips for freelancers? Why not join in the conversation and help out your fellow creative folk.
Rule #1 - Never leave money laying on the table. Know your preferred rate, but open the conversation with your prospective client asking what they had in mind. If it is too low, tell them your minimum. If they offer you more than your regular rate, boom - you just got a raise.👍May 24, 2018
I price myself in every single way possible. By project, hourly, and retainer. Because at the end of the day I know some types of clients want to pay me in a way they are comfortable and I’ve got bills to pay. I think stressing about doing exclusively one type is unnecessary.May 24, 2018
2 things I do now that I wish I did years ago: 1. Offer pricing tiers (usually 3)2. Discount 2% off if paid up front or in full within 3 days of completed assignmentMay 24, 2018
Related articles:
- 6 ways to save money as a freelancer (opens in new tab)
- The freelance survival guide (opens in new tab)
- 6 things to know about getting freelance clients (opens in new tab)
