subject: What Should I Charge For My Product? [print this page] What Should I Charge For My Product? What Should I Charge For My Product?
One of the most crucial things that a new Internet Marketer wants to learn is what amount he or she should be charging for his (or her) products or services. This is in particular a hot topic amidst writers who are offering content material and copy creation services to those who need them. Some folks believe that they need to charge whatever folks are willing to pay. This is admittedly tough those of you that are often told that only the lowest of rates is okay. If you have been trying to puzzle out how much you should charge for your writing, here is the way you come up with that number.
First you should produce a list of all of your month-to-month expenses. This list must include the sum of money you will be paying on things like food, credit card payments, utilities, rent or mortgage payments, cell phones, etc. Make sure you include the charge of doing enjoyable things like going out to dinner once in a while or cash for a few frivolous purchases when you go shopping. Add all this up and then multiply it by twelve. This is the amount of money that you need to put in the bank every year. This is NOT the amount of money you should bring in.
To determine how much you need to make from your clients take your annual total and add forty percent to it. This can help you handle your taxes and feesafter all, the money you make online counts as income and you will have to declare it to the IRS and pay taxes on it. This extra forty percent can help cover the taxes for social security, Medicare, and so on. The number sitting in front of you right howyour expenditures plus forty percentis the amount you have to make.
You possibly believe that you can be working at least forty hours each week. This is a good amount to plan for but you should realize that only about half of that time will be doing actual work for clients. The rest of the time you'll be doing paperwork, marketing, etc. Why is this critical? Because it has an effect on how much you charge. Your primary impulse is most likely to take the amount of money you need to make and divide it by fifty two and then divide that number by forty (which will help you figure out your hourly rate). Instead, what you need to do is divide the amount by the number of weeks you think you will be working and divide that number by twenty.
Now that you know what amount of money you should charge per hour, from here just how much you charge for a project is simple to figure out. How long will it take you to produce a bit of content or maybe copy? Take that amount of time and multiply it by the hourly rate that you have established. This is the amount you should charge folks.
