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Pricing Freelance Projects with Tom Hirst

Pricing Projects - Tom Hirst

Web developer Tom Hirst shares his top tips for pricing freelance projects.

Who are you, and what do you do?

My name’s Tom Hirst, and I’m a web developer and creator. Programming, business and marketing are my interests.

How long have you been freelancing?

11 years.

What was the catalyst for you to consider how you priced your freelance projects?

Pricing has always fascinated me, so I studied the topic out of interest. I tested anything that I found to help get me ahead in my freelance career.

What do you think freelancers find the hardest when it comes to setting their prices?

Understanding value. The concept of pricing for the value you provide instead of the hours you spend doing something takes a little getting used to.

Look at the value you’re providing a project more than the time you’re spending.

What are your top three tips when it comes to pricing?

  1. Move away from hourly billing as soon as you can.
  2. Look at the value you’re providing a project more than the time you’re spending.
  3. Get payment up front (a deposit at least).

How did you decide to launch the product side of your business?

I’ve always been asked about freelancing by friends, so I thought perhaps I could help people on a broader scale. I’m a big proponent of multi-revenue streams, and the products provide me with that alongside my project work. It’s something I’ve wanted to try for a while, and the pandemic was the catalyst.

How do you plan to balance products versus services moving forwards?

I’m taking it as it comes. This month, for instance, I’m focusing on a new course about personal websites, with only a little service work.

However, in November last year, I only did service work day-to-day and my books sold in the background. This is the advantage of products; they continue to benefit you post-creation.

If product revenue starts to overtake service revenue, I’ll have a decision to make; products are more scalable than bespoke services.

Can you tell us a bit more about your mentorship programme for freelancers?

The idea behind the programme is to give independent workers a second brain for any tough decisions they have to make or scenarios they come across. It’s delivered over email, and we also have a communal Slack channel. We’ve seen some great progress and successes along the way.

This article was originally published in Freelancer Magazine Issue 1. Get Freelancer Magazine delivered to your door or inbox.

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