Like most freelancers and small business owners, you’ve probably agonized over a simple question: “How much do I charge for my services?”
On the surface, it seems like a simple question. You know there’s going to be some variation between you and other freelancers due to your location, experience level, and skills, but you may never feel like you come up with a good number. When a client declines to work with you, you always wonder if it was because of your price. Were you too expensive for their budget? Or were you so cheap that they worried about quality?
Plus, it’s in the interest of both parties to come up with an accurate figure. If the number is too high, the client will feel like you’re taking advantage of them. If the number is too low, you won’t feel properly compensated for your work.
So how do you come up with good prices to charge your clients? There are basically two models: fixed pricing and time-and-materials pricing. Each model comes with advantages and disadvantages, so you’ll need to choose the one that works best for you, but in this article we’d like to give you an overview of both options to help you decide.
Keep in mind, however, that you aren’t bound to one system or the other. Feel free to switch between these pricing models based on the types of clients you serve and the projects you work on. Now let’s explore fixed price vs. time and materials pricing.
As a freelancer, your time is everything. The faster you can complete projects (without sacrificing the quality of the work), the more money you can make. “Time is money,” as they say.
Adding hours to your day isn’t the only way to make more money. If you can complete projects faster without wasting precious time, you can schedule more projects, and thus make more money. If you waste time, therefore, you’re actually throwing money out the window. So it’s critical that you take time management seriously.
“But I work for myself,” you might be thinking. “I want freedom and flexibility. I don’t want a boss standing over my shoulder making sure I’m working diligently, so why would I do that to myself?”
That’s a fair sentiment, but good time management doesn’t mean putting yourself under a lot of stress. It doesn’t necessarily mean working extra hard, either. It just means working smartly.
So how do you improve your time management and truly optimize your workday as much as possible? In this article, we’ll explain how with a collection of time management tips for freelancers.
Whether you work for yourself or someone else, the benefits of project management are undeniable. It keeps you organized, helps you manage deadlines, and ensures you meet all of your obligations. Without project management, there’s a good chance tasks will fall through the cracks, which will ultimately disappoint your clients and affect your revenue.
According to the consultancy firm Bain & Company, most work will be project-based by 2027. This explains why the demand for project managers has been growing faster than the demand for skilled workers in other occupations. Putting someone in place to manage the project is often more effective and more productive than adding another person to handle the frontline work.
While 77% of high-performing projects use some kind of project management software, many people don’t take project management seriously. According to Project Management Institute, only 23% of people use standardized project management practices. These people are leaving productivity on the table (and probably losing revenue).
Most of us spend a lot of time in video calls these days. And keeping track of how much time we actually spend in all these meetings can be challenging.
To help you with that, we are happy to announce that Timing 2021.3 now automatically offers to create tasks for video calls!
Once a call has ended in any of the apps listed below, you will receive a notification like this:
If you click that notification, you’ll see a task editor to enter your meeting details.
In addition, Timing’s automatic idle detection is disabled for the duration of the call.
If you have allowed Timing to send notifications, there is nothing to set up — it just works!
Call tracking is compatible with the following apps (audio-only calls are tracked as well):
- Microsoft Teams
- Google Meet
In addition, this update includes several quality-of-life improvements with regards to picking date ranges in the toolbar and editing tasks. Read on for the full list of changes!
As an effective professional, you know that it’s important to keep track of your own time. Whether you track to bill clients or optimize your productivity, your time tracking app is a critical part of your daily software stack. It’s a powerful tool to stay organized, focused, and productive while you work.
But like all software applications, your time tracking app is only effective if you use it properly. If it doesn’t have the right features for your needs, or if you fail to use its features properly, you won’t receive the tool’s total benefits.
According to one survey, 38% of people who track their time still use manual processes like paper time cards and spreadsheets. Only 25% use a dedicated time tracking app. And many of those apps are simple timers that require constant maintenance.
This means that you’re likely making regular errors that disrupt your time tracking efforts. These errors can throw your productivity and client billing into confusion.
In 2020, there were 64.6 million freelancers working in the United States alone. By 2028, that number is anticipated to grow to 90.1 million. In short, freelancing is becoming a more common way than ever to make a living with freedom and flexibility. The key to a successful (read: lucrative) freelancing career? Effective time management.
Being able to successfully manage your time as a freelancer doesn’t just mean that you’re great at goal setting, however. It also means that you’re logging more billable hours with your clients by keeping track of productive time and reporting that time in a clear, accurate format.
The challenge is that freelancers can often get caught up in unproductive work–whether that’s wasted time on “administrative” tasks (like needlessly checking your inbox), time spent on social media, or inefficient workflows that drain your time and attention away from a truly productive “flow.”
As we start a fresh new year (see you 2020!!!), we’re taking some time to reset our work life habits–namely, our ability to bill more hours (and make more cash).
Take a look at our comprehensive list of steps to help you bill more hours in 2021–and develop a more successful freelancing career.
We are happy to announce the release of Timing 2021.1, featuring Timing for Teams!
Timing for Mac has always been a great way to track your time as an individual.
However, so far it has been cumbersome to coordinate your Timing projects across multiple team members.
Gathering timesheets from all team members has also been a difficult task, with a lot of emailing to collect all the needed reports.
That’s where the brand-new Timing for Teams comes in.
It lets you share projects with team members and view their time entries in the Timing web app.
And with the year having just started, now is the ideal time to get your team’s time tracking in order!
Read on for more information on how the new feature works, and how you can get the most out of it! Read More…
Any successful freelancer knows that time tracking is an absolutely critical part of finishing tasks and projects on time. Though you can easily try to track time by hand–taking manual notes on an app, or even with old-fashioned pen and paper–you’re a lot more likely to succeed with time tracking software. Click To Tweet
In theory, time tracking software helps you to succeed at getting all the juicy benefits out of tracking time, like successfully completing tasks and projects on time, managing your work hours well, and gaining insights into your work life that ultimately help you to become a better, more lucrative freelancer.
In the following article, we’ll take a look at the seven best time tracking tools to help you get the most out of time tracking.
Does this scenario sound familiar? You’ve finished an exhausting day of work, with 10-12 hours under your belt – and you still haven’t finished your projects. It’s wildly unsatisfying: All that hard work, with none of the dopamine rush you get from meeting goals. Not to mention, you’re even more stressed than at the beginning of the day, with an ever-growing list of unfinished tasks. The culprit? Time sinks.
Somewhere along your work day, you got held up, distracted, or pulled into an unproductive activity that wasted your precious time and energy. Now you have a list of unfinished projects that make you more stressed. For freelancers, solopreneurs, and entrepreneurs, this kind of day is pretty much unacceptable. Unless you can stay on top of the ball, you’ll fall behind in income, future growth, and overall excellence.
The good news? You can learn to eliminate time sinks and unfinished projects with just a couple simple strategies on Timing.
In this article, we’ll look at those strategies…as well as a big-picture overview of why time sinks are so destructive, and how to reframe your mindset to make you a more focused, productive worker.
We are happy to announce the release of Timing 2020.10, featuring a whole new design and full compatibility with macOS Big Sur!
This summer, when Apple announced sweeping design changes coming to macOS Big Sur, we took the opportunity to refresh the design of Timing on all versions of macOS. This is the result:
As you can see, we touched every bit of Timing’s interface, reducing visual noise and focusing on the stuff that you are here for: what you spent your time on.
But that’s not all — Timing has an all-new icon, created by Matthew Skiles: