subject: How High Should My Fees Be? [print this page] How High Should My Fees Be? How High Should My Fees Be?
One of the very first things that a brand-new Internet Marketer will ask is just how much he or she should charge for the products or services that he or she is offering. This is in particular a hot topic amidst writers who are offering written content and copy creation services to those who need them. Some individuals apparently think that a writer should just charge what the clients want to pay. This is mainly tricky for people who are often told that only the barest minimum of rates is acceptable. If you have been trying to figure out just how much to impose for what you have to provide, here is the way to figure it out.
First you should create a list of all of your month-to-month expenses. This will probably include the amount of money you spend on rent, mortgage payments, utilities, food, credit cards, other services, etc. Be sure that you put in the funds you spend on fun things like going shopping or going out to dinner. Add all of this up after which multiply it by twelve. This is the amount of cash that you should put in the bank each year. This is absolutely not the same amount of cash that you need to earn.
To find the amount of cash you should earn, take the amount of money you need to put in the bank annually and add at least forty percent. This will help you to have enough money for fees and taxes; don't forget, the money you earn on the web is income and will need to be reported to the IRS; not only that but you will need to pay taxes on it. This extra forty percent should cover the cost of social security taxes, Medicare, etc. The number sitting in front of you right how-your expenses plus forty percent-is the amount you should make.
You probably anticipate doing work at least forty hours a week. This is a good volume to work toward, but it is important to note that you will only spend probably fifty percent of this work time performing duties for your clients. The rest of the time will probably be used up on marketing, paperwork, etc. Why does this make any difference? Because it has an effect on how much you charge. Your initial reaction 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, you should be dividing by twenty-this is the time you will be investing on client work.
Now that you hold the quantity you need to charge on an hourly basis from here what you charge is up to you. How long could it take you to generate an article or a sales page? Take the time it is going to take you to complete a project and multiply it by your hourly rate. This is the amount that you need to be charging for your various jobs.
