Ask Adam Savage - How to Price Freelance Gigs

**The Importance of Taking Responsibility and Pricing Oneself Correctly**

When it comes to freelancing, taking responsibility and pricing oneself correctly is crucial for success. As I always say, "if you're not ready to cut right off the top, that's a great thing" because it shows that you've thought through your work and are willing to take on challenges. However, this also means being prepared to rectify any mistakes or problems that may arise during a project.

**Setting Client Expectations**

One of the most important things I do when working with clients is setting clear expectations about what they can expect from me. This includes explaining how I'll handle potential problems and what kind of communication they should expect. As a carpenter, for example, I might explain to my client that if I've chosen the wrong type of wood, it could split and become an issue. By being upfront and transparent about these potential risks, I can help manage their expectations and avoid any surprises down the line.

**Taking Responsibility and Giving Back**

Sometimes, as a freelancer, you may have to take a loss on a project in order to maintain good client relationships or to avoid being taken advantage of. This can be tough, but it's an important part of building trust with your clients and growing your business. I recall one time when I bid on a job for the San Francisco Maritime Museum and didn't get it - only to find out later that they had given the contract to someone internally for $800, which was just $100 less than my bid. It was a tough pill to swallow, but it taught me the importance of bidding strategically and being willing to take calculated risks.

**Separating Fear from Pricing**

One of the biggest challenges freelancers face is separating their personal fears from their pricing strategy. It's easy to get caught up in wanting to land a job at all costs, but this can lead to underpricing yourself. On the other hand, bidding too high can also be a problem. My goal as a freelancer has always been to bid about 10% over what the client wants to spend - not because I'm trying to make a profit, but because it gives me some wiggle room in case things don't work out as planned.

**Understanding Market Rates**

This is where market research comes in - understanding what the going rate is for your services and pricing yourself accordingly. It's not about making a good day's pay for yourself, but about meeting the market demand. I remember when I was working in the pharmaceutical industry, I could have easily bid on projects for $500, but that would have been undervaluing my skills and expertise. Instead, I'd bid around $3,000 to ensure that I was being fairly compensated for my work.

**Institutional Knowledge**

As a freelancer, you'll encounter all sorts of clients with different needs and expectations. This is where institutional knowledge comes in - having experience working with similar clients or on similar projects can help you anticipate potential problems and come up with creative solutions. Don't be afraid to ask other professionals for advice or call in outside experts if needed.

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