I was wondering if anyone had any tips that they would want to share about the strategy they use when deciding how much to bid on a project.
I’ve been freelancing for awhile now, and, have a pretty good portfolio built up, but I feel like I am losing a lot of jobs because I’m either bidding too high or too low. I have to think that there are some basic principles that I could apply to my bids which would allow me to find that sweet spot that results in being awarded more jobs.
Thanks ahead of time to the community for any input you may have.
I take my hourly rate and estimate how long it will take me. Pretty straightforward. I tack on some time for unmentionables like communication and possible revisions (the hardest really when it comes to flat rate).
I charge 1 hour for 500 words except if there is something crazy like they want me to write code and write. Then it's more like 3-4 hours.
I bill $85 for one-off articles because I find between the bidding process, discussing with the client and communication, it takes longer than an hour. For bigger projects, I usually just bill 1 hour for 500 words.