🔴 Freelance & Business

Recommended Readings

Item

Links

Documentation / Tutorials

  • The Futur by Chris Do

Industry / Case-studies

Books

Books (value-pricing payment)

  • Alan Weiss - Value- based fees

Tools

Questions

  • What if your first freelance job pays low but you are just starting out. If you do your due dilligence, you have the design chops and know how to speak to clients, you can negotiate for a higher rate. If not, walk away and go find your own clients.

General

  • Design shouldn't be a surprise, do not spontaneously show client designs after few weeks. Keep the client in loop with throughout the whole process. Design then, is a conversation / service.

Data data data — Self assessment and information curation

Have a spreadsheet with your:

  • Overheads, expenses

  • Contacts and bookings

  • Projected earnings

Pricing your works & Knowing your worth

Putting a price to your the work is never easy especially when you are starting out. You may feel that you are overpricing or under-pricing the work you give. The simple solution to this problem is: basic arithmetic! Let's use the power of mathematics to calculate how much you should be charging per hour.

Let's take the scenario that you are working as a freelancer, and you need to make enough to cover your basic expenses for each month. After which, add 20% of that as profit, and you will have what you need to make each month. Divide that by your working hours, and you have your freelancer rate.

(Expenses+Profit)/workinghours=rate(Expenses +Profit)/working hours=rate
- rent
- utitlies / bills
- workstation / computer / tools
- software that you used
- overheads (vimeo
- tax
* Use a spreadsheet to calculate all these

Contracting

Pause clause (source: The Creative Truth)

“If a client deliverable— such as input, approvals, or payment—is late more than 10 business days the project will be considered ‘on hold.’ Once the deliverable is received and the project is re-activated it will be rescheduled based on the company's ’ current workload and availability. Just to say it loud and clear, it could be weeks to get you back in the system if the project is put on hold.”

Invoicing

Tips

  • Clients want to follow the money, and see where it goes. Your invoice should have detailed breakdown of your process from ideation to rendering. For each item, state the number of hours you spent and the cost.

  • Your invoice may state your full-rate, but you can put discounts to show generosity when working on your first few-gigs or for friends.

Covering your ass and getting paid

  • 50% upfront payment to start the project, and the other 50% upon completion and delivery

  • When you deliver your final cut before your final payment; put a watermark / audiomark / give a lower resolution render

Notes from books

The Creative Truth

  • Pause clause

SCAD Freelancer workshop

  • Definition: independent contractor, work for hire, temp, gig worker, contract employee, 1099 employee

  • Do not receive

    • insurance

    • retirement plan

    • paid vacation days, sick leaves, time off