The Freelancers Guide to the Galaxy
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Transcript of The Freelancers Guide to the Galaxy
![Page 1: The Freelancers Guide to the Galaxy](https://reader034.fdocuments.in/reader034/viewer/2022051610/549e7150ac79593d768b4724/html5/thumbnails/1.jpg)
Freelancing
Time Balance Money
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What's happening?
Cost of an employeeCalculating rates
Real-life advice (lots of it)
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How much money?
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How much money?
The same as an employee
Somewhat more, as I carry the biz risk
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An employee's income
24000 / year
before income tax and health insurance.
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An employee's income
24000 / year
24000 / 12 = 2000 / month
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An employee's income
24000 / year
24000 / 12 = 2000 / month
2000 / 173 = 11,56 / hour
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An employee's cost
24000 / year
24000 / 12 = 2000 / month
2000 / 173 = 11,56 / hour
Average hours per month!Good number to know!
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An employee's cost
24000 / year
24000 / 12 = 2000 / month
2000 / 173 = 11,56 / hour
… is this actually true?
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An employee's cost
She has holidays. 4 weeks / year!
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An employee's cost
She has holidays. 4 weeks / year!
24000 / year
24000 / 11 = 2181 / month
2181 / 173 = 12,61 / hour
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An employee's cost
She is sick sometimes.
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An employee's cost
She is sick. 4 in 100 days.
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An employee's cost
She is sick. 4 in 100 days.
2181 / (173 – 4%) = 12,61 / hour
2181 / 166 = 13,13 / hour
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An employee's cost
She gets pension benefits.
500/month.
2181 + 500 / 166 = 16,15 / hour
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An employee's cost
She gets pension benefits.
500/month.
2681 / 166 = 16,15 / hour
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An employee's cost
She has an office. And a computer.
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An employee's cost
She has an office. And a computer.
200/month.
(2681 + 200) / 166 = 17,35 / hour
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An employee's cost
She has an office. And a computer.
200/month.
(2881) / 166 = 17,35 / hour
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An employee's cost
She has one job.
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An employee's cost
She has one job.
Her manager organizes work for her.
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An employee's cost
She has one job.
Her manager organizes work for her.
Now, let's think like a freelancer.
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A freelancer's rate
She has to find work to do.
No-one does it for her.
She spends one third of her time on this.
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A freelancer's rate
She spends one third of her time on this.
(2881) / (111) = 25,95 / hour
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A freelancer's rate
She doesn't always find work.
So sometimes she doesn't know what to do.
This happens one in ten days.
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A freelancer's rate
She sits around one in ten days.
2881 / (166-55-17) = 30,64
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A freelancer's rate
She has to spend time on administration.
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A freelancer's rate
She has to spend time on administration.
Another half day in a week.
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A freelancer's rate
She has to spend time on administration.
Another half day in a week.
2881 / (166-55-17-17) = 37,41
![Page 30: The Freelancers Guide to the Galaxy](https://reader034.fdocuments.in/reader034/viewer/2022051610/549e7150ac79593d768b4724/html5/thumbnails/30.jpg)
Your rate?
What do you need to live?
Cost for living, communication, transport, health, pension, holidays, clothes, notebook, leisure.
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Whoaa. 40-80 €/hr !!!My customer doesn't understand.
My customer says others are cheaper.
My customer doesn't want to spend that much money.
My customer doesn't understand the complexity of my work.
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Dealing with „Whoaa!!“Sell your work under price
Don't get the job
Build a product
Automate parts of your process
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Prices
Econ 101:
„A function of supply and demand“
Supply: You.
Demand: Your customer.
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Communicate well
Be polite
Don't be late
Be emphatic
Smile often
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Manage Expectations
Tell the client what's in scope (and what isn't!)
If you do extra work: Talk about it!
If you work for free: Make it explicit!
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Freelancing
> 50% of freelancers work 40-50 h/week
20% work > 50h/week
40% of freelancers have 10-20 days vacation a year
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Typical week (40h)
20h client work
10h administration
6h Meetups, Networking, Akquisition
4h learn new things, techniques
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Work vs. Life
aim for office hours
dont work in your freetime
dont work in bed
have a tablet for private browsing
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Plan your day
make yourself a timetable
plan your week before the weekend
plan your day the evening before
recheck your planning after lunch
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Focus
Do one thing at a time
have silent hours without calls, facebook, twitter…
Avoid ASAP – it will screw up your day
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Invest time
… in your workflows
… to try new software
… script repeating tasks
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Care for yourself
Eat well
Sleep enough
Do some sports
Take breaks
Take free days
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Plan ahead!
plan your money – have a reserve for 3 months
plan your projects with milestones
plan realistically– clients might need more time than you think– you might need more time than you think
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Specialize
Have a strong suit
Have one thing in your portfolio you know better than anyone else
Write / talk about it!
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Pro Tips at the end
Develop a technique to do boring stuf
Get to know your work-style
Build a network for your work with other freelancers
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Why work under price?
Because you learn.
Make it explicit.
Don't pay for work. Ever.
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Enjoy LifeYou'll earn less at first.
You'll live better.
You'll work for yourself.
Enjoy life.