Don’t Undersell Yourself

Posted by KC Morgan Oct 18, 2007

“Please send hourly rates, cover letter, and resume.” It’s a standard line for job ads, but do you have a standard reply? The need to get work and the desire to succeed may be strong motivators to push that project bid a little lower, but it’s important that you don’t undersell yourself even when struggling with self employment.

Estimating Your Worth

Just how much is your work worth? That’s pretty much what employers want to know when they ask for project bids, and it’s important for self employed professionals to screw their courage to the sticking place. Before you make a decision, avoid underselling yourself by learning the standard rates for entrepreneurs.

Learning the Rates

For freelance writers, general rates are derived from word counts. Other self employed professionals estimate their worth on an hourly wage. It’s not at all unheard-of for writers and other entrepreneurs to make fifty or more dollars an hour, if that puts your own worth into a frame of reference.

Your Own Rate

You’re the one who decides what your rate shall be. Choose an hourly or per-word rate you feel you can live with, and stick to it. Quote the same rate to all comers, and don’t lower your fee unless the work seems highly promising or compelling in some professional way. If you absolutely cannot get work, then perhaps you’ll want to lower those rates - but only if you absolutely can't get work. Figure up your cost, estimate your own worth, and refuse to undersell yourself. You’ll find employers willing to pay your price, and you’ll find richer opportunities for your efforts.