Freelancing is getting popular, thanks to the increasing unemployment rate worldwide that has forced people to become self-employed and be their own boss. Freelancing is freedom and like many other niches, good quality attracts more business.
The majority of freelancers are hesitant and afraid of raising their rates. They are afraid of losing job opportunities if they increase their price. The growing popularity of non-traditional freelance marketplaces such as Fiverr has also instilled fear among freelancers suggesting, the lowest price is necessarily the “winner”.
This is not actually true. If you are confident about your skills and your portfolio speaks volumes about the quality of your work. If your profile tells your high-commitment level, you can take the liberty to increase your price.
There are two ways a freelancer can double what they charge:
- Their work plate is already full. This gives them the liberty to increase their price for accepting new work.
- They have a great profile. Their portfolio reflects high-quality work. Feedback on their profile is 5 stars “highest” with great testimonials. They are recommended by their previous clients for their good quality, time management, and communication skills.
Seasoned freelancers do not realize, a good client will always appreciate good quality and honesty.
They understand what it takes to produce quality output. They respect your time.
For freelancers, time is money. Freelancers who know their worth are confident of providing a value proposition to the clients, therefore, they are always appreciated.
Also from a freelancer’s perspective, you should only increase your price if you feel confident about your work.
If your work has substantially improved over the years. If you have worked with diversified clients, worked in different industries and the portfolio reflects good quality, only then you can take a chance of increasing your asking price.
The answer is simple. If you have improved a lot as a service provider and your work is getting better, your profile reflects your good work, take a chance, and increase your price.