Hourly rates are the least desirable way for freelancers to get paid. I understand that’s the norm but it’s not a good model because it emphasizes the wrong thing (time spent) and introduces the wrong incentives.<p>If you sell your time you should set up retainer agreements. That’s similar to what f/t employees do.<p>Better, charge based on business value. With my customers I ask them to list their pain points and issues and then assign priorities and value to those. We both know what the work is worth. Getting it done faster than expected usually means the work is more valuable.<p>We all use this model every day. When I eat a restaurant I pay for the meal, not the time. When I pay someone to mow my lawn I expect a flat price based on the work, not to pay by the hour.<p>If you and your customer working together can’t define the tasks, put them in order, and assign values to them then you’re not doing the necessary requirements gathering and analysis. That’s how so many freelancer engagements end up in failure, disappointment, anger, and legal mediation.
Wanted to share a thing I built for the freelancers out there. I know there are a few "hourly rate calculators" out there for independent folks, but they're all pretty generic and not especially useful. Saymyrate is a bit different because it's powered by a team of humans with a big pile of data. And they reply back with an hourly rate that's tailored entirely to you. Free too, at least for now. Give it a look if you're curious what you maybe <i>should</i> be charging: <a href="https://www.saymyrate.com" rel="nofollow">https://www.saymyrate.com</a>