Calculate your revenue

Changing your status from a full time employee to a freelancer may be a challenge for many. For instance, you should be aware that, unless you have some healthy savings put aside or some big big projects going on for at least one year, your revenue may not be as secure as it used to be.

I mentioned several time the problem of being paid late even one month after the project was finished, but also about the special situations when you are not paid at all, as the proud employer deleted his/her account on the network of freelancers or simply did not answer your e-mail. It happened for me very often in my first year of full freelancing, and it still happens - more about spams in a next post.

One of the biggest questions when you start freelancing is how to evaluate your work. For instance, do you need to set up some prices that may be negotiated with the employer or not. 

If you are part of a network of freelancers as Freelancer.com that I use regularly, some projects do have already the price set and it is up to you to accept or not the quotations. At the beginning, when I was very enthusiastic to put my writing skills on trial, I accepted quite law payments for my articles, but after I realized that one month and several dozen of articles later my revenue was the equivalent of a modest pair of Converse, I put on hold all the attractive and cheap projects - 0.50$ for 100 words sounds familiar to you?

If you have a trustworthy employer and a good system to evaluate your work, working per hour is a good opportunity. Honesty, I prefer to use this system because I am quite good to time management and I am more than scrupulous when it comes to the strict counting of the hours and minutes. Especially for my PR and customer service projects I love such a counting. 

However, when it comes to translation and proof-editing projects, my preference is for pay-per-page calculations. In the case of proof-reading it is very easy to show how much did you work with the help of the track changes. The translation projects are also suited for a pay/word, but in the majority of cases, most employers will prefer for the sake of simplicity a very clear counting.

As for the price itself, even though you are a very beginner, the evaluation should be realistic: be sure that your evaluation covers a minimum of needs that will bring you the necessary energy to continue the project - meaning that you will not starve or work in a park because no more money for food and/or rent. Even if you do such jobs for your perfect fun, be aware that once you set the stake low, your example can be used against freelancers auctioning on the market and it is not a good advertising for the freelancers' rights.

As a junior and middle level employer, you will need to wait a couple of months, or more than one year till you will be able to really enjoy your freelance life. Make sure that your career advances with decency and stability.

Good luck, freelancers!