Understanding your value
Calculating what it costs to be you ...
- add up what it costs you to live each year
- three incomes ranges: a base number, a target, and a goal income
- https://thecreativeindependent.com/guides/an-artists-guide-to-financial-planning/
Calculating the cost of running your business ...
- add up the costs to operate your business each year
- add onto the three different incomes
- cost of living increases by 1.5%-3% annually
Calculating your hourly rate ...
- calculate how many hours you would work each year, multiply by the number if billable hours you expect to work on client projects each day, divide your annual base by your annual billable hours = hourly rate
£ Annual Revenue / Annual Billable Hours = £ Hourly Rate
At HAWRAF they are not big fans of charging an hourly rate and prefer to provide a client with a flat fee - using the hourly rate to inform the pricing.
Pricing services based in their value ...
- charge clients based on the value of what you're offering - value is added through your education, experience, skills, process etc.
- is the client an individual, small- or medium- sized business, or a mega crop
- what will the project do for them
- are you interested in the project?
Screening potential clients
Setting up a call or IRL meeting ...
- who is the client?
- where are they based?
- how many employees do they have?
- do they have investors?
- how much funding do they have?
- what is their annual revenue? sale projections? recent press?
- what is the role of the person you are talking to?
- How long have they been there?
- What is their expertise?
Having the first conversation ...
- sell yourself and services but also decide if it is a project that you want to do
- what is the main challenges?
- what are the biggest concerns?
- what are the expected outcomes? what does success look like?
- have they contracted a [whatever it is you do] previously? how was that?
- are they talking to anyone else for the job? if yes, who? what will be the biggest deciding factor? When are they trying to decide by?
Following up with potential client
- follow up on a first call within 48 hours
- an email provides a shared reference to keep everyone on the same page (prevents future legal issues)
Deciding whether you should do this project
- do you want to do this project?
- does this budget align with your economic realities?
- do you need this project? Is working at a loss better than missing out on the project altogether?
Writing the proposal
- deliverables, budget, timeline, and contact information
Following up (again)
Sealing the deal
Contract to give to the clients - https://www.aiga.org/standard-agreement
The questions that they ask potential clients once it has been made clear that there is a possible project, prior to sending a proposal. They introduce themselves at the end.
ABOUT / TEAM
Who are you? What is your role?
How long have you been there?
How long has the company been around? What’s its story?
How big is your team? What does it team look like?
Any other stakeholders or decision makers? What will their input look like?
How have you worked with vendors/studios in the past?
GOALS / CHALLENGES
What have you done so far? What has worked? What hasn’t?
What are your challenges?
What are you trying to communicate?
How would you measure success for this project?
GENERAL
Who are your primary and secondary target markets?
What’s your budget?
Where is your funding coming from?
Timeline?
BRAND
Do you have an established brand?
Art direction? Photography?
WEBSITE
FUNCTIONALITY
Who is using this site? What for?
Do you see this as a starter apartment, a 2-3 home, or a 10-year mortgage?
What does it need to do?
E-COMMERCE
How many sales do you do through your site per month?
How would you measure success for your site?
TECH STACK
Do you have a domain, and if not is there a domain you have in mind? Subdomain?
If you have a domain where is it registered (follow-up, need info)?
Do you want to own the domain or do you want us to purchase and manage it?
Is the site already hosted? Do you want to host it or do you want us to handle hosting?
Have you used a CMS before? Which & Preferences?
OUTRO*
We talk about ourselves.
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