Monday, 30 May 2016

Determining Worth

I'm a freelance writer. It's something I've mentioned before, but not often enough given some of the things I get to write about. Really if I ever find myself not sure of something to write about I'm sure I could just write about some of the stuff I've been paid to write about. I have two main services; I write original articles and I rewrite others.

If you'd like to hire me you can do so by clicking to the right!
I recently decided to alter my prices and value myself a little better. At least as far as rewriting goes. When I started it up I decided to rewrite 750 words for $5. I wanted it to be better value than writing an original article because I wasn't really putting in any research to rewriting an article. I considered it less work. This value for money was the reason I've been able to bring in so much money. Almost 90% of my hires, if not more, are for rewrites. I've kind of reached the peak of what I can earn using my current pricing and, honestly, it's not enough. I'm doing too much work and not getting paid enough for it. So I restructured.

I now rewrite 600 words for $5. This may not sound like much less but it really is. It means I get burned out less and I'm earning slightly more. It's my hope that with this new pricing model I'll be better able to manage my work and increase my earnings a little bit more. I doubt I'll ever feel comfortable charging more than $1/100 words but, for now, we'll see how this goes.

I messaged some of my bigger clients personally to make them aware of the change. So far everyone who replied told me they supported my decision and thanked me for letting them know. That was nice of them.

Remember folks that value is about more than just price. Value is quality/price. With the quality of my work (Over 250 4/5 star reviews!) the price was ridiculously good value. Now it's a little more expensive, but still great value. Here's hoping the move works well for me and I'm able to bring in slightly more money.

If people weren't bored to tears by this post then maybe I'll be more comfortable talking about work in the future.

8 comments:

  1. It's good of you to personally message your clients, just part of professional relations. Would be a dick move to just change the price without notifying anyone, so it's easy to see why people appreciate your heads-up. (:

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  2. To them it's not a massive change in price but to you it's going to make all the difference so this was a great idea Mark. I'm glad that you increased the price a little. I'd imagine your client base will all stick around and fingers crossed you see no negative effects from increasing the price. I can't see that happening.

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  3. Prices change from time to time as overheads increase etc. That's business, I'm glad you can make money at something you enjoy.

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  4. Does that mean you're going to have to redo your clip? I liked your promo clip.

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  5. good for you Mark, kind of like artists pricing their art, not an easy thing.

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  6. I thought the post was interesting. I think you should charge as much as people are willing to pay but doing it gradually is probably the best move.

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  7. I wasn't bored to tearS but I do have a single tear in my eye. It may be allergies, though. Does that count?

    No, this was really interesting, and so true. It's funny, when we started charging $5.99 for ebooks there were a few people who actually complained and said that as Indie authors we were just being greedy, because apparently we were only worth 99 cents to them. Sorry, but major publishers charge as much as $15 for an ebook, and we're not going to earn pocket change from the sale of a book that we busted our backs on.

    That's our longwinded way of saying good for you, don't ever sell yourself short.

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