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Here's what you're missing when you calculate your freelance rate [View & share this email from your browser]( Hey, again! I'm curious: how do you calculate your freelance rate? Because there's [a million ways to do it](. And while picking a number out of thin air might work when you're just getting started as a freelancer, it's not enough to help you [become insanely profitable](. For serious freelancers, a lot goes into calculating your rate. There's taxes, expenses, days off, and loads more. So we built this for you: [The Ultimate Freelance Rate Calculator]( Here's a sneak peek: It's BY FAR the most robust freelance calculator you'll ever find. And it'll help you see where you might be [losing money]( in your freelance business. We hope you enjoy! Also in this email: - How to gracefully tell a client you're raising your rates - How to respond to a client that asks "Why do you charge that much?" - How to Create a Freelance Rate Card + 8 Examples for Inspiration Enjoy! Preston & the Millo Team PS. Want to know why serious freelancers love [Moxie]( (formerly Hectic)? $20/month gets you everything you need to thrive as a freelancer. From contracts and proposals to client management and a ton more. [Start with a free trial](. How to gracefully tell a client you're raising your rates Telling a client you’re raising your rates can be especially nerve-wracking when you’re wondering how to approach your biggest clients. There's a lot at stake. But there are ways to tell your clients you’re raising your prices do this without losing their business. Below are a few suggestions to smooth the transition: - When raising rates, give plenty of notice and explain how the rate increase will give more [value to your client](. - Offer alternative solutions, such as a [retainer agreement]( or [project-based pricing](. - Be confident and professional in your communication and be prepared to lose 10-20% of your clients. For more, read this by Ian Vadas: [How to gracefully tell a client you’re raising your rates]( "Freelancers often underestimate the value of their work. Remember, you're not just selling your time; you're selling your unique perspective and skills. Price accordingly." – [Austin Kleon]( [Get paid on your own terms with a free trial of Teachable Pro]( [Teachable]( - Stop chasing invoices and start earning on your terms. Monetize your skills through courses, coaching, and downloadable content on Teachable's flexible, no-code platform. [Start your free trial now.]( How to respond to a client that asks "Why do you charge that much?" Have you ever had a client ask you about your pricing? Well one freelancer recently did and he wasn't sure what to say. So we gave him our best advice during a recent episode of our podcast [Freelance to Founder](. Here's the quick answer: You don't have to explain yourself or your pricing to your clients. You just have to demonstrate the value you bring. For more, you'll want to listen to this 12-minute Q&A episode: [[SHORT] "Why are you charging me that much?"]( [Moxie (formerly Hectic)]( - Stupid-good tools for freelancers. We can't run your business for you, but we can make it easier. Freelancing is the future of work & creative entrepreneurs deserve tools that are stupid good. [Start your free trial now.]( How to Create a Freelance Rate Card + 8 Examples Lastly, once you've figured out your perfect freelance rate, here's how you can develop a new [rate card](. - Create a comprehensive list of all the services you offer, considering past projects and future focus, for both public advertising and personal reference. - Specify [deliverables]( for each service, including tangible assets clients can expect to receive, and consider additional charges for extras like stock art or long-term maintenance. - Determine your base rate by calculating your target annual salary, desired weekly working hours, accounting for time off and taxes, to establish a fair billing amount for each service or deliverable. (Or just [use this calculator]( - Choose a format for your rate card, typically digital but possibly physical, and create both a detailed version for proposals and discussions, and a concise one-page version to share with interested clients that represents you as a professional contractor. For a deeper dive and inspiring examples of rates cards you'll want to review this: [How to Create a Freelance Rate Card (8 Examples for Inspiration)]( Action Item: - If you haven't recalculated your rates in a while, [use our free calculator]( to get a clearer picture and then move forward with confidence. You've got this! Whew! If you made it this far—thanks for sticking with us. See you in next week’s issue of 🔥 Freelance Fire. [Twitter]( [Facebook]( [Website]( [YouTube]( [LinkedIn]( Copyright © 2023 Millo, All rights reserved. You subscribed to this newsletter at Millo.co (previously GraphicDesignBlender.com). Thanks for subscribing. Our mailing address is: Millo 265 N Main Street Ste. 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