When it comes to freelance, it is inevitable that not only you will be forced to learn new skills, expand your expertise, and work with a variety of clients from different industries, but you’ll also need to increase your rates to excel in your professional life and live a prosperous life.
You can increase your pricing from 10% to 25% gradually after finishing successful projects. Could be every X months, every X amount of projects, or annually. One of the best ways to do it is to let your network of clients know about the upgrade with 1 to 3 months of anticipation. This method is considered the most honest and open communication. You do it this way out of respect and courtesy for those who stayed with you, either from the beginning or for a long period.
Some clients have a perception of value for a certain product or service, and if you offer a low rate, chances are they will start to question whether or not you understand the project’s scope and/or vision. Ultimately, they’ll probably find someone who has a similar or greater rate to their perception of value for the desired product or service.
Even though there is no right or wrong time to increase your rates, since this decision will depend on your life circumstances, If you feel confident and recognize you deserve to increase your prices to keep thriving professionally, then do so. It may be well received or not, as well as it may work for you now or probably in the next 3 to 5 years.
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