Unvalidated Ideas #012
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Freelancer/Consultant price exchange
Knowing how to price engagements is one of the toughest things consultants and freelancers have to continuously figure out. As someone who does both consulting and freelancing, it took me far too long to price engagements properly.
This particular problem is recurring, unsolved at scale, and persistent.
Good freelancers and consultants are always trying to increase their "luck surface" (the trendy term these days) so they'll be much easier to talk to. I've held this idea close to the chest for a long time. This means your customers will actually be trying to find you.
Obviously, this problem isn't new. The same information disparity exists for full time employees. Companies deal with 10s/100s of contractors, and contractors generally deal with 10s of companies. Companies know what the prices and ranges are but consultants/freelancers do not -- correct this inbalance and you'll have happy customers and recurring business.
The idea is simple -- make a market pay rate/invoicing data product, and sell it to the people who need it most -- freelancers and consultants.
Selling to companies on the other side of this equation is also obvious, but I personally tend to side with the little guy first (we can always sell to the big guy later).
Most good freelancers/consultants know of @patio11 and his advice to charge more, but nothing convinces faster than finding out you're charging below market rate, or that companies would happily pay 2x for the same project you worked hard to complete.
This product is guaranteed to change the revenue trajectory for any consultant. Sell that.
Read my raw notes >
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