#2: Lowballing Rates
New freelance writers often have the false impression that they should set their rates low to begin with, and then gradually increase them as they gain more “experience”. But consider this – if you set your rates low to begin with, it will be much more difficult to increase them later once you’ve established relationships with regular clients.
If you’re a talented writer, there’s no reason you shouldn’t be compensated for it.
Don’t feel like you won’t be able to compete with all of the writers out there charging base rates – make quality your number objective and you’ll already be ahead of most of the Internet.
Any client who takes pride in their work won’t mind paying extra for a job well done.
When you’re quoting a project for a client, it’s best to avoid calculating the cost of the project on a per-word basis. Some projects require a considerable amount of research, so get into the habit of pricing each project on an individual basis.
Figure out how much you want to earn per hour, and set your rates accordingly. Remember to factor in time and expenses for unbillable hours, such as marketing campaigns and client correspondence.
Finally, don’t feel obligated to display your rates on your website or disclose to a client how much you charged someone else – each project is going to be different, and you reserve the right to up your rates to make a project worth your time.